Permadove Chuck Evans Speaks, Precious Metals Soar

Tyler Durden's picture


Gold and Silver and surging this morning as the Fed's Charles Evans talks on CNBC of the need for more accomodative policy by the Fed. His 'infiniter' easing seems to have sparked this move as he clarifies the seeming psychopathy of the Federal Reserve's actions. His message clearly is that the amount doesn't matter (nor the unintended consequences), the printing and flooding of money into an already stuffed banking system will continue until morale improves.

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Mon, 10/01/2012 - 08:49 | 2844499 johnnymustardseed
johnnymustardseed's picture

Who watches CNBC anymore?

Mon, 10/01/2012 - 08:52 | 2844510 Stackers
Stackers's picture

Thats not flying - Thats falling -- with style


Mon, 10/01/2012 - 08:53 | 2844521 malikai
malikai's picture

HAH! Another fed crone, not Benny yet. Can't wait for the quiverer to show up.

Mon, 10/01/2012 - 09:05 | 2844569 GetZeeGold
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Sir.....Chuck Munger is on line 2......and he sounds ticked.


Mon, 10/01/2012 - 09:11 | 2844593 BigJim
BigJim's picture

I was wondering what kicked off the movement in gold & silver just now... thanks, Tyler.

Mon, 10/01/2012 - 10:04 | 2844823 new game
new game's picture

we like spikes!!!!!!!!!!!!!!!

cost of living just went down

thank you kindly ben


citizen of facist ussa

Mon, 10/01/2012 - 09:06 | 2844575 Top_Kill
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Evans says that higher interest rates are good, but higher rates now would be bad, because everything would crash again, so lower rates are good. So savers would end up getting screwed anyway. So it is better to start screwing them now. I think these guys are freaking lunatics.

Mon, 10/01/2012 - 09:07 | 2844584 HelluvaEngineer
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Lunatics?  I'd agree with you if I actually thought that they believe the BS they are spewing.  They know exactly what they are doing and why.

Mon, 10/01/2012 - 09:19 | 2844635 ElvisDog
ElvisDog's picture

Couldn't agree more. Bernanke knows that lowering interest rates or QE doesn't create jobs or encourage J6P to borrow more money, but he has to go through the motions of claiming that he's doing all this to "maximize employment in the context of price stability". He does this to continue the $40B a month transfer to the big banks.

To make a football analogy, people complain that the comissioner of the NFL, Roger Goodell, favors the owners when he does things. Of course he does, because he works for and is paid by the owners. Same with the Fed. They are not civil servants working for the public good. They are paid by and are presidents of a collection of private banks.

Mon, 10/01/2012 - 10:02 | 2844818 A Lunatic
A Lunatic's picture


Mon, 10/01/2012 - 09:44 | 2844740 debtor of last ...
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Savers screwed? They should save in pm's, and buy with paper. Stupid savers.

Mon, 10/01/2012 - 09:17 | 2844620 1fortheroad
1fortheroad's picture

Yea, the quivering never stops even when he sleeps, give the man some meds. 


The fed cant be audited so they can buy anything they want and turn the losses back to the treasury. 


Thats scary.

Mon, 10/01/2012 - 08:52 | 2844514 stocktivity
stocktivity's picture

Until the printing stops....It's all Bullshit!

Mon, 10/01/2012 - 08:56 | 2844530 cbaba
cbaba's picture

Only the ones who doesnt have gold.

Mon, 10/01/2012 - 09:08 | 2844578 TWSceptic
TWSceptic's picture

Who watches CNBC anymore?

Tyler, to report and remember us that it still sucks. It's a dirty job, but someone's got to do it.


BTW did anyone else notice the PM haters are nowhere to be seen lately?

Mon, 10/01/2012 - 09:13 | 2844603 BigJim
BigJim's picture

They'll be back, at the bottom of the next correction, to say the top is in, and Sell! Sell! Sell!

They do it as a public service, out of their infinite concern for us. 

Mon, 10/01/2012 - 09:24 | 2844658 BandGap
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CNBC serves a purpose, and a master. It only takes one person to watch and spread the news through their lens.

Mon, 10/01/2012 - 10:23 | 2844916 Meesohaawnee
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they are an embarrassment. they are just an infomercial. nothing different than what you see on sat  morn. its so painful to watch what little i do

Mon, 10/01/2012 - 08:50 | 2844501 EscapeKey
EscapeKey's picture

The economy is in trouble?

Perhaps we should try printing some money? Has anyone though of that?

Mon, 10/01/2012 - 08:51 | 2844511 jekyll island
jekyll island's picture

I like it!  You don't work for the government, do you?  

Mon, 10/01/2012 - 09:04 | 2844568 EscapeKey
EscapeKey's picture

Well, we all do. I didn't build that.

Mon, 10/01/2012 - 09:07 | 2844580 GetZeeGold
GetZeeGold's picture



You don't build print it.


Mon, 10/01/2012 - 09:42 | 2844734 JimBowie1958
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Actually, they dont even print most of it any more. Just move electrons around and call it money.

Mon, 10/01/2012 - 09:19 | 2844632 iinthesky
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Mon, 10/01/2012 - 09:16 | 2844612 BigJim
BigJim's picture

 I like it!  You don't work for the government, do you?  

According to my Inland Revenue tax demand, that's exactly whom I work for.

Mon, 10/01/2012 - 08:54 | 2844527 NorthenSoul
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The government say it illegal...or something like that. Not that said government is bothered by such triffles when comes the time for them to do whatever they please.

Mon, 10/01/2012 - 08:49 | 2844502 redpill
redpill's picture

Nice chart, morning wood.

Mon, 10/01/2012 - 09:26 | 2844671 Bay of Pigs
Bay of Pigs's picture

Wood? New all time highs for gold in Euros.

Mon, 10/01/2012 - 08:50 | 2844504 jekyll island
jekyll island's picture

Yeah!  Keep him talking, my wife needs some new shoes.  Might be inclined to part with some more fiat if PMs are up.  

Mon, 10/01/2012 - 08:50 | 2844507 Sphinx_www
Sphinx_www's picture

They have no clue.

Mon, 10/01/2012 - 08:53 | 2844522 Stackers
Stackers's picture

Sadly they do have a clue, they just find the destruction of the American middle class as an acceptable cost to maintaining their banking cartel

Mon, 10/01/2012 - 09:33 | 2844701 1fortheroad
1fortheroad's picture

Its just not the destruction of the American middle class, its way more evil than that.


They want complete controll before everyone wakes up.

The Banking cartel is only a tool.

Take that away, maybe we have a chance.


Mon, 10/01/2012 - 09:29 | 2844685 Galactic Superwave
Galactic Superwave's picture

If you happened to watch, he tends to talk while looking with head down and eyes upward...also the dark circles under the eyes.... and you have the look of evil.

If you are a saver or retired, get ready for more ass raping.

Mon, 10/01/2012 - 08:52 | 2844508 Oh regional Indian
Oh regional Indian's picture

A lot of that crappy, smelly easy liquidity is sloshing over here and killing middle India. 

Inflation exportation on steroids, dis-courtsey the FED/ECB.

Benny Bucks the trend...


Mon, 10/01/2012 - 08:53 | 2844517 jekyll island
jekyll island's picture

Tell everyone "Your Welcome" from us here in the states.  Inflation is our biggest export and with those cool new printers, manufacturing costs are at an all time low.  

Mon, 10/01/2012 - 08:56 | 2844536 EscapeKey
EscapeKey's picture

Well, someone launch a gold backed currency.

"Currency Wars" starts with an economic war experiment, in which Russia launches a new gold backed currency. American Keynesians attempt to discredit this, as it would "never happen in real life".

Just like hyperinflations. They don't exist in the minds of Keynesians. HyperDEFLATIONS, however - despite noone ever having seen one, now THOSE are scary monsters, which we need to throw everything including the kitchen sink at.

Mon, 10/01/2012 - 09:01 | 2844557 Oh regional Indian
Oh regional Indian's picture

Deflation = Death to the Supply Siders (Keynes/Freidman/Krugwoman... the lot)

Inflation = Till the balloon bursts... partaaaay!


Mon, 10/01/2012 - 10:14 | 2844863 Zadok
Zadok's picture

It appears to me that the reason that won't happen is because it would end the Ponzi. All that perpetuates the Ponzi goes, and all that would end it is resisted. Hence, claim to fight deflation and pretend inflation doesn't exist. Isaiah 5:20

Mon, 10/01/2012 - 08:52 | 2844512 Sean7k
Sean7k's picture

It's hard to remember what life was like before the algos...

Mon, 10/01/2012 - 08:54 | 2844523 Oh regional Indian
Oh regional Indian's picture

A lot slower for sure Sean.

All around...


Mon, 10/01/2012 - 08:52 | 2844513 LoneStarHog
LoneStarHog's picture

With all this additional printing of FRNs, mattress sales are booming.  Karl "The Hammer" Denninger just ordered five new king size ones.

Mon, 10/01/2012 - 08:52 | 2844516 MillionDollarBoner_
MillionDollarBoner_'s picture

"PMs flying. WTF! This prick need to get with the program!"

J Dimon.

Mon, 10/01/2012 - 09:04 | 2844520 buzzsaw99
buzzsaw99's picture

When in doubt give Dimon & Blankfein bigger bonuses.

Mon, 10/01/2012 - 08:54 | 2844525 Quinvarius
Quinvarius's picture

They need to print a lot more to keep the banks from dying and then to give them the illusion of profits.  At some point they are going to try and get ahead of the issue and fix it all at once.  As long as the banks are a mess and the Fed has freedom to print, the printing will continue.

Mon, 10/01/2012 - 09:16 | 2844615 NorthenSoul
NorthenSoul's picture

As long as the banks are a mess...


As long as the banks are permitted to be an engineered mess, the priting will continue, courtesy of the infinite cowardice and moral depravity of the Wall Street - DC Axis of Greed.


The correct way to solve this problem for generations to come is to do what Icelanders forced their politicians to do.

Mon, 10/01/2012 - 20:10 | 2846910 Jendrzejczyk
Jendrzejczyk's picture

Many of us can't vote you up when you begin with a "quote".

Mon, 10/01/2012 - 08:55 | 2844528 Flakmeister
Flakmeister's picture

Alex, I'll take "Japanese Monetary Policy for $400"

Mon, 10/01/2012 - 09:02 | 2844562 EscapeKey
EscapeKey's picture

Alex, I'll take "Fed price stability" for $400,000.

Mon, 10/01/2012 - 09:07 | 2844581 tmosley
tmosley's picture

Alex, I'll take "Non-dilutable Currencies" for $400,000,000

Mon, 10/01/2012 - 09:54 | 2844785 Sudden Debt
Sudden Debt's picture

I'll take silver for 36$!

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