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From The Big Picture: I mentioned last week that bullish sentiment was getting a bit frothy. After a few weeks of record highs, expectations that stock prices will continue rising had surged. Not quite an extrapolation of recent trends into infinity, but getting there. This morning, I wanted to address the flip side of that — Bearish sentiment (expectations that stock prices will fall in the near future). This Pessimism remains above historical [...] by David Schectman, MilesFranklin.com: Things are out of control and beyond fixing. That’s not being negative, it’s being honest and realistic. Why so? Soon we won’t be able to pay the INTEREST on our National Debt. We have been spending more than one trillion each year than we collect in taxes and have been doing so for years. The government borrows $0.43 of EACH DOLLAR they spend. This can’t continue. Our tax revenues are $2.3 trillion. [...] from Silver Underground: Ben Bernanke is set to speak tomorrow about the Federal Reserve’s future plans. Recently, the private central banking cartel decided to initiate a third round of quantitative easing in response to a recent jobs report, believing falsely that inflation will somehow help stimulate job growth. Also, rather than just buying a set amount of Treasury bonds in one burst, the Fed opted to begin purchasing them in an ongoing [...] from CNS News: Treasury Secretary Timothy Geithner said Friday that Congress should stop placing legal limits on the amount of money the government can borrow and effectively lift the debt limit to infinity. On Bloomberg TV, “Political Capital” host Al Hunt asked Geithner if he believes “we ought to just eliminate the debt ceiling.” “Oh, absolutely,” Geithner said. “You do? Will you propose that?” Hunt asked. “Well, this is something only Congress can solve,” Geithner [...] from silverdoctors: Japan’s likely next Prime Minister Shinzo Abe Wednesday called for the Japanese Central Bank to print “unlimited yen” to reach an inflation target of 3%, triple the current target of 1%. QE will continue TO INFINITY…AND BEYOND!!! throughout the entire developed Western world until the Western financial system collapses in Weimar flames.
from CNBC: Japan’s main opposition leader Shinzo Abe, seen as the most likely next premier if a snap election is held [...] From The Big Picture: The obvious answer is that extrapolation of current trends into infinity fails in any data set that is cyclical. The Short Side of Long takes a swipe at the question, writing: “The fact is, most economists are totally useless at predicting recessions. “According to Variant Perception (I recommend reading their leading indicator economic research), ‘in the past four U.S. recessions, consensus forecasts did not recognise the recession even when recessions [...] Last week’s news that the Bank of England had stopped Quantitative Easing early because it was not needed was a load of rubbish. The truth is that it was stopped early because MORE COUNTERFEITING WAS NEEDED, and the BOE figured out a way to directly monetize the debt, while out of public scrutiny. by Peter Schiff, Gold Seek:
If no one seems to care that the Titanic is filling with water, why not drill another hole in it? That seems to be the M.O. of the Bernanke Federal Reserve. After the announcement of QE3 (also dubbed “QE Infinity”) created yet another round of media chatter about a recovery, the Fed’s Open Market Committee has decided to push infinity a little bit further. The latest move [...]  JIM SINCLAIR: A ROMNEY ELECTION MEANS $3,500 GOLD & A DOLLAR COLLAPSE WITHIN 6-9 MONTHS!! The legendary Jim Sinclair has sent an email alert to subscribers comparing this week’s terrible situation along the east coast in the wake of Sandy to the coming collapse of the US dollar. Sinclair states that Ben Bernanke is the only person in US financial management that understands the current situation, and that QE? is the only thing delaying [...] “Immediately after the 2008 financial meltdown, the Fed laundered more than $2 trillion in worthless assets held on the balance sheets of private banks. According to a watered-down 2011 audit of the Fed by the Government Accountability Office (GAO), there have been $16 trillion in Fed bailouts to banks and corporations around the world since the financial meltdown in 2008. Since that report, Bloomberg has reported on an additional $9 trillion in [...] vidrebel.wordpress.com Catherine Austin Fitts recently commented QE to Infinity and the Lie of the January Financial Cliff. She describes what the bankers are doing to us a Slow Burn. She believes that all assets are being taken away from us day in and day out and being given to the Global Elite offshore. She says there will be no January Fiscal Cliff unless we agree to let the bankers [...] The legendary Jim Sinclair sent an email alert to subscribers tonight advising readers thatQE? cannot stop even temporarily or the dollar would collapse due to the economic implications. Sinclair states the current bullion bank generated corrections in the metals are nearing completions, and guarantees that gold will trade above $3,500/oz.
From Jim Sinclair: 1. The entire reason that I launched into the explanation of spread trading was to demonstrate how it is used to [...] The Latest Bubble? Unsurprisingly, the market for mortgage-backed securities is near all-time highs!Subsidies encourage the type of behaviour they are subsidising. And the Federal Reserve’s QE Infinity is subsidising the market for mortgage backed securities by taking them out of the market at a price floor. Unsurprisingly, the market for mortgage-backed securities is near all-time highs: And Wall Street is doing some wild and wacky things. UBS has just launched a 16-times-leveraged MBS ETN. The ETN, called the ETRACS Monthly Pay 2x Leveraged Mortgage REIT, offers double the return of [...] In his latest update, Greg Mannarino discusses Fed Presidents Charles Evans and John Williams’ speeches this week calling for FURTHER quantitative easing. Williams stated the Fed can extend Operation Twist into infinity (which can only occur if the Fed goes out and PURCHASES T-BONDS DIRECTLY!!). Mannarino states we are in the middle of an escalating GLOBAL CURRENCY WAR. The petro-dollar is being threatened as China is colluding with the Saudi’s to bring the [...] In this episode, Max Keiser and Stacy Herbert discuss punk rock ‘Tall Paul’ giving the two finger salute to Ben Bernanke’s QE3 and gold adjusting for zero growth, yield, velocity and confidence. In the second half of the show, Max Keiser talks to Detlev Schlichter of PaperMoneyCollapse.com about quantitative easing to infinity, Central Banking ‘devils’ and the future for the gold standard. http://www.youtube.com/watch?v=_TpbxORxmnY In this episode, Max Keiser and Stacy Herbert discuss flash crashes, reputation woes on the U.S. exchanges and sheep screaming at all the fraud. Max also talks to one of the Queen’s sheep for its opinion on quantitative easing. In the second half of the show, Max Keiser talks to Jim Rickards, author of Currency Wars, about QE to infinity, the dollar, the euro and a gold standard. Follow Max Keiser [...] If the expectation is that we QE to infinity and hard assets inflate then why is velocity of money shrinking? 1980′s – last commodity bull top velocity was in clear uptrend which led to the blow off top. Now velocity of money is dropping like a rock…. Does it tell us that QE is not really working and we are to continue deflation process??? It seems that its not inflation that [...]
Max Keiser talks to Jim Rickards, author of Currency Wars, about QE to infinity, the dollar, the euro & a gold standard. Today John Embry gave a stunning interview to King World News. In it he made some rather frightening predictions. Embry believes, “… we are in the early stages of a global ‘Weimar’ event.” Embry stated, “This is very historic what’s happening here,” as we have now entered “the end game.”
Here is what Embry, who is Chief Investment Strategist at Sprott Asset Management, had to say: “I think the attempts to restrain the gold [...] In one of the most bullish gold calls since the Federal Reserve announced a new round of easing last week, one strategist sees a 36 percent jump in the metal’s price [GCCV1 1767.00 -1.00 (-0.06%) ], to $2,400 an ounce, by the end of 2014. “The new target reflects our view that the Fed will maintain mortgage purchases until the end of 2014 and will move to buy Treasuries following the end of Operation Twist this coming [...] From PragCap: The recent deterioration of sentiment on China has been surprising even to us, as economists rushed to cut their GDP forecasts one after another. That is, before the QE Infinity announcement, Germany Constitutional Court ruling, and the ECB’s OMT, so the sentiment is certainly as bad now as it was two weeks ago. Although we now see some reasons to expect pick-up, or at the very least a stabilization of [...] Today’s horrible piece of news, which at least on the surface was supposed to send the market soaring, comes courtesy of the Empire Fed Manufacturing Index, which printed at -10.41, the lowest print since April 2009, down from -5.85, and well below expectations of -2.0. The Index print confirmed the biggest 6 month drop since records began. The components painted a dire picture for jobs, with the employment index sliding [...] My Dear Extended Family, If you have eyes to see, coordinated central bank monetary and fiscal stimulation action is taking place. Yesterday was “Draughi Day.” Today the Chinese officially released massive fiscal stimulus on top of the already monetary stimulus. Watch for the US Fed to chime in. QE to infinity MOPEd as sterilized is falling into place. Please review my post from last weekend to you on the illusion of monetary sterilization. Gold [...] China has announced 8 trillion yuan ($1.265 Trillion) in stimulus as it desperately attempts to keep it’s economy from rolling over. This now gives Bernanke the political green light to proceed with a $1 Trillion + QE3. Gold and silver smell currency debasement, and are responding accordingly. The metal’s corrections are history. China announces £800bn stimulus to boost confidence by Phoenix Capital Research
Listen up Mainstream Financial Media, the Fed is not going to announce QE 3. You’ve been running the same tired stupid story after every single FOMC meeting since May 2011, desperately trying to spin everything the Fed says into a call for more QE.
The fact of the matter is that only a handful of Fed members have called for more QE. They are Charles Evans and Bill Dudley, [...] Gregory Mannarino discusses why the Fed’s $800 million in repo MBS purchases today constitute the beginning of QE3. Source: silverdoctors |
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