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ECB Says May Buy Gold, Stocks Next, Admits "Not Sure If Japan's QE Has Worked"
While it remains to be seen if a majority of the Swiss population want their central bank to purchase a whopping 1,500 tons of gold in the coming years, perhaps the most notable event for gold overnight (aside from news that while India exports fell 5% in October, gold and silver imports soared by 280% and 136% Y/Y, respectively), came from ECB Executive Board member Yves Mersch who in a speech in Frankfurt said that the ECB balance-sheet expansion is "neither an end in itself nor a fetish." As quoted by Bloomberg, the ECB member said that "the effect on rates that comes along with it is at best a collateral benefit."
Nothing new here: we have discussed why unlike Japan and the US, the biggest gating factor for Europe is the presence of freely-available, unencumbered collateral that could, at least in theory, be purchased by the ECB. Which brings us to the Mersch punchline: "Theoretically the ECB could purchase other assets such as gold, shares, ETFs to fulfill its promise of adopting further unconventional measures to counter a longer period of low inflation."
In other words, for the first time ever, the ECB revealed just what the endgame for the Eurozone would looke like: full-blown monetization of virtually everything that is not nailed down. Including gold.
More from Mersch via Bloomberg: "The ECB should allow current stimulus measures to take effect first, then potential new measures must be analyzed in advance for effectiveness and conformity to ECB mandate." He concluded by saying that "Monetary-policy easing can bring no positive effect if Europe’s economy isn’t structurally well-positioned" through reforms.
Which is ironic because in the same speech the same Mersch also opened a whole new can of worms when he admitted that he is not sure if the BOJ's QE has worked.
"I’m not so sure it has worked, considering that this morning we saw that Japan has officially slid into recession again."
Well, it has if one is long of the Nikkei (in Yen or USD terms). For everyone else, it has been an absolute disaster as we previewed early this summer in Abenomics' Legacy: Japan's Greatest "Misery" In 33 Years.
But back to gold. Here is the Telegraph's take:
Gold, shares, and exchange-traded funds (ETFs) - the European Central Bank (ECB) may turn to buying any or all of these in an attempt to boost inflation in the currency bloc.
Yves Mersch, a member of the ECB’s executive board, said that the purchase of these assets was “theoretically” an option for the central bank, which earlier this year resolved to “take further unconventional measures to counteract a lengthy period of lower inflation”.
His speech, delivered in German, came as official statistics published on Friday showed inflation of just 0.4pc in the year to October.
Very low levels of inflation were characterised by Mr Mersch as “abnormally low”, as price growth remained well below the ECB’s target of close to 2pc.
"Every purchase of a security - or precious metal or foreign currency - naturally increases the credit risk of the buyer”, he added, noting that the ECB may lack a mandate to increase the risk of its balance sheet.
Mr Mersch, a Luxembourgian, is often seen as leaning towards the position of the ECB’s German members - hesitant to pursue monetary stimulus in an attempt to revive the eurozone.
So yes: in "theory" the ECB can buy pretty much anything, up to and including gold. And before all is said and done it most likely will, especially if one looks at today's GOFO update, where the 6-Month rate remained at a negative -0.0075%, while the 1 Month rate just dropped to a fresh 13 year low, of -0.22%, a fresh low since 2001, suggesting concerns that institutional demand is (and will continue) soaking up all physical for a long, long time. This is how DB carfeully tiptoed around this topic late last week:
It is interesting to note that benchmark gold-dollar swap rates have recently traded negative, meaning investors are paying to borrow gold. This is unusual as gold is traditionally used as a source of collateral for cash financing. While a number of factors may play a role, such as excess dollar liquidity or an increased demand for collateral on the back of the global regulatory developments, it is possible that anticipation of an affirmative vote in the gold referendum has played a role.
In other words, if Switzerland "returns the favor" to the US, whose president recently crushed the legacy banking secrecy prevalent in Switzerland for centuries, and votes to force the purchases of massive amounts of gold in the open, or not so open market, watch as the entire GOFO curve trades negative for the first time ever.
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The ECB won't buy gold.
But Greenspam gave the green light
Double dog dare you.
Excuse me, I have a little question to ask: how is buying stocks and ETFs inflationary to anything but asset prices?
Nevermind, I jsut answered my own question.
So the Euro Central Bank casually says it can/will buy gold (lifeboats) to get the economy going again.
Next they'll suggest their asset buy to include freeze dried food, ammunition and farmland to get the economy going again.
Perhaps someone at the ECB is waking up to the daymare they've created.
The SNB would never buy 1.5K tons of gold as ZH suggest, since 1) this computation is based on the current artificially expanded balance sheet created out of thin air and 2) it cannot sell the gold it buys.
That would litteraly mean a commitment to an additional 1.5K tons for the long-run/forever financed by means of a money supply artificially increased to 5x+ its structural size. Swiss central bankers are not that stupid. They long for the Eurozone to heal such that they can shrink that BS. We all know it won't happen, but that's still their goal since not even in their eyes that big a BS is tenable in the medium-run.
It would instead have no choice but to give up on the CHF strenght and shrink the BS somewhere close to pre-ceiling levels.
I ticked the yes 2 days ago.
Does this mean that I have to "injest" in some way my kilo gold bars when I leave the US?
If the ECB buys gold they will also need to buy hedges on that gold in the cash market. Forceing the price of the contract lower.
So if they say they baught 500tons of gold then thats 50000 tons of hedges because thats how they roll. Or else the currency would rise and blow up Germanys economy.
Etfs investments would just not be enough to since that pool is to small for the ECB.
"Theoretically the ECB could purchase other assets such as gold, shares, ETFs, wifes and daughters to fulfill its promise of adopting further unconventional measures to counter a longer period of low inflation."
I tell you, it seems like the day is rapidly approaching where the belief in the "central banks can save the world" narrative is going to end. Once that happens, I think gold will see a spike higher like it has never seen before. I think that day is sooner than people realize. That volatility from last week, combined with Japan's negative GDP print and now the ECB's statements, tells me that shit is about to get real. Price action is always the tell.
Switzerland "returns the favor" to the US, whose president recently crushed the legacy banking secrecy prevalent in Switzerland for centuries
Is anything Obama is not guilty of? So he is the mastermind beyond changing the banking secrecy?
Wow... it really takes a stretch of imagination to make such connection ... another comparable one was that Bush attacked Iraq because of his father (obviously he was not able to defeat Sadam) .... yeah, i guess anythin flies ... whatever
Oy Vey..
Such a deal I have for you..
I could be svedish if I ver not yiddish.
When do the beheadings of these "masters of the universe" begin? I want to start the bidding on the Draghi head, infact I cleared some space on a wall for it.
Or they could change the way they measure inflation. More marching powder sir?
Waiting for the weekly Gold/Silver slamdown. Lots of folks need to be fleeced given Friday's daily rally.
Theres that MAY word
Maybe yes
Maybe no
Or is it code to start buying in MAY!
might or may??
who is capable or gives the permission?
when will central banks figure out they should print money and just give to people. The economic rebound would be huge if the FED took the 3+ tril they printed and gave it rather than bought assets from the "banks".
Because the central banks ARE the banks!
The Feral Reserve is OWNED by the banks, NOT the Feral Gubmint.
If the Gubmint really wanted to print money, they could.
They're called "Treasury Notes" versus Feral Reserve Notes we use now
But that would fuck the banks up.
Thanks Banger.
The cabal's days are numbered.
central banking=private banking.
The BRICS Bank is the end of private (Anglo American cabal) banking.
http://www.positivemoney.org
But it, too, would run out and be just as false as what they are doing. We've been party to monster creation and they be:
U -G - L - Y; they ain't got no alibi, they ugly, they ugly.
" If you left a wheelbarrow full of money sitting around in the Weimar Republic, thieves would steal the wheelbarrow and leave the money behind. "
Old Joke , circa 1923
From the original Batman TV series with Adam West:
Every day a man left the factory where he worked pushing a wheelbarrow full of sawdust. After a while people began to wonder whether he was stealing from the company. But since it was only sawdust, they didn't think it was even worth stopping him. But in fact, he was actually stealing wheelbarrows.
A women was taking her bank notes to market in a basket, a robber stole the basket and dumped out the notes into the street. The basket was worth many times the value of the notes which it held.
OR you would get fined for littering.
I was visiting a South American country in the 1980s with very high inflation. I needed some local coins to make a call in a local pay phone. Went to a bank, the guy gave them to me!
I'll take it! I remember shaking my head violently when Bush did his $1200 "go buy a flat screen" giveaway, but I still cashed the check and spent it. It's all fake, we might as well enjoy it until the dark ages return.
The dark ages are already here, lies and propaganda are now considered truth. Thats what dark ages are about, the belief of magic and mystics. Enlightenments are all about going back to reality, finding truth and understanding what is and is not real.
We are a long way from an enlighenment.
plus one hundred points
mass media is all about obfuscation not illumination. The age of empire is past, the age of darkness is all around.
"when will central banks figure out they should print money and just give to people."
By that time the deficit will be $25 trillion and the Fed's balance sheet will look worse.
When the central banks are handing money out to regular people you can bet it will have almost zero value.
that would be communism karl marx was talking about
sorry for duplicate
Agree; this is probably more "baffle 'em with bullshit" from the central bankster playbook.
“What will they think of next.” -Fisher Price
Everybody wants to buy gold when many tight hands will sau FU
I thought it was a relic?
Germany has some gold they could sell to the ECB...........if only they could get thier mits on it
That won't stop them, the ECB can buy the German gold where it sits. It's been bought mutiple times over by hundreds of different entity's and resold to thousands more.
https://www.youtube.com/watch?v=HmVzk5PHlP4
ECB thinks it can talk its way out of anything with little action to back it up.
PC madness: comet genius attacked for wearing 'kinky' shirt during press conference
http://tinyurl.com/pxt867f
"The ECB won't buy gold."
Correct, Not phyzz they won't.
If they really did want phyzz where are they going to get it from?!?!
Germany can't get its hands on any more than 5 tonnes out of 300 that it has decided to give up on re-patriating?
We all know damned well that the ECB/FRB/BOE have been buying equities since Sep 2008. I'm curious as to how much of that "other assets" (which by the way was nearly all sold to the "mysterious buyer in Belgium" to get it off the FRB balance sheet) is currently equities.
Duped again!
They'll buy tungsten!
https://www.youtube.com/watch?v=xxbg6LQjapE
Why don't they invest the money in better infrastructure?
And other programs which will create JOBS!?
Duhhh.. What a concept!
build value to increase worth and thereby inflate the price of everything and through the process inflate wages and increasei employment?
Such a novel idea, but the central bank can't be involved in such things, they are merely transmuters of animal spirits and economic propagandists smoking opium in ivory towers and dreaming mathematical equations whereby adding enough zero's produces a positive number.
They want to BUY the infrastructure first.
Then there will be jobs. You'll be paid in script which you will take to the Obolastore for your sack of rice.
Many serfs will be busy building the concrete warrens to house you and your family in a 12X12 room with a communal toilet.
Meanwhile, out in the woods away from the concrete city, the army will be fighting a running gun battle with the Resistance.
*****
Another cold night. They were right about climate change. Only it got Cold. Then colder. Our warren was on the outskirts of town, near the concrete plant. Bill and I were standing around a fire barrel, swapping stories. A sudden flash of light in the sky about 3 miles away startled us.
"Looks like the Resistance took out a gunship," Bill mused.
"Yeah. But they don't have enough strength to hit local UN HQ yet."
"Shh- the dhs pig is coming around the corner. Put another piece of wood in that fire barrel."
Willy Bronson approached the smoking chopper. One pilot was still alive. A quick burst of suppressed fire finished it.
"Cut off the hands now," ordered Slater. "We'll need their chips."
"Aye, L-T. Here. Put 'em in the sack." The L-T tossed three bloody hands into a waterproof bag and then stuffed them into a fanny pack.
"Check for weapons, let's move out- quick. Thirty seconds."
The squad moved quickly. Within a minute, they vanished into the cold night.
"Why don't they invest the money in better infrastructure?
And other programs which will create JOBS!?"
Unless they can just say the built it or build it out of a mountain of paper that can be re-hypothocated the bankers could not wrap their pea brains around that idea, never work in a paper world. A 40 lane toll road from Mexico to the U.S. maybe, but there again, mexicans would build it and then stay.
So.....the barbarous relic has some 'value' after all?
This is pure desperation.
That's a bold statement there.....you do realize your bold is on......right?
I thought the same thing when the original QE was announced. "This is madness, we must be near the endpoint," I thought. Yet here we are.
ECB stop lying, you know damn well the game is almost over
you already got your marching orders from the TRIBE
If only we had some method of intercepting some of their false moves, we could reduce the amount of crunch in the crash, perhaps.
Why not be different, buy silver.
Edit. Then Obama can accuse the ECB of being terrorists :)
Podcast with artist to have only 9/11 Truth art in official museum
Infotrap: Anthony Freda’s 9/11 Truth art accepted in official museum, remixes Kim Kardashian pic
Since 9th of March 2009, I've been thinking this gets more insane year on year - now I think it's becoming more insane week on week.
Truly pathetic.
DavidC
Running out of popcorn over here waiting on the next shoe to drop!
Like watching something disintegrate in slow motion. Amplitude increases, as frequency decreases.
As it should be.
It ends depending on the initial strength of the entity. Which is why weak entities join strong ones when the shit starts hitting the fan. Just delays the process.
Ends before the end of this year. Or at least the focus changes from collapse to what to do during the collapse.
Yea, right.
Draghi said "whatever it takes" without consulting with anybody.
Berlin rules now.
is Berlin allied with banking lobby or the military ... do you know?
fluid, Germany has no active military and is almost totally dependent on USA for defense.
Gold Hopium! I didn't Print that! Here's the news story used to signal Paper Gold Prices about to get Smashed
the fed will buy shares too. they will own it all someday.
They already are via index futures.
they currently launder stock future purchases through an intermediary. i am talking about full blown, in your face, talk about it every day, fuck you and your little dog too QE.
They need a theme song and the Fad King.
So, when they own it all it becomes totally worthless. Then 'we the people' start over with out 'them.'
Stupid central ba.............oh wait...
So let's see. They'll print up money out of thin air to buy a hard asset & line their pockets with it, but granny, INSTEAD, will have a negative return of her money [with transaction fees loaded on top of that]
Sounds perfectly fair to me. [Oh but some comments here on ZH would make me believe that I'm just stupid & lazy].
http://www.zerohedge.com/news/2014-11-15/paralyzed-iraq-war-veterans-wri...
They'll print up money out of thin air to buy a hard asset
No....they print money to drive the price down.....then they buy it.
Yes of course. Sorry ~ I haven't had my 2nd cup of coffee yet [which reminds me, I better do it now before the price goes up].
Tom Lee on Squawk Box saying S&P 3,500 to 4,000 in the next couple of years.
Charles Biderman trying to introduce sanity - interrupted and scoffed at; Becky Quick lost in the milk.
I'm surprised they didn't bring in Becky D'Angelis halfway through to sing from the "Church of Debt" hymnal.
Tom Lee on Squawk Box
Wow....they still have Squawk Box?
ECB Executive Board member Yves Mersch needs to stop worring about gold and hope and pray that he is one of the first in the queue for the gallows.
after buying stocks gold and other assets, what's left for it to buy? oh crap, the phlebs.
Question #1
The volume of which of the following cannot be increased by printing?
a) ETFs
b) Shares
c) Gold
d) None of the above.
Question #2
The volume of which of the following cannot be increased by printing?
a) ETFs
b) Gold
c) Gold
d) None of the above
Question #3
The volume of which of the following cannot be increased by printing?
a) Gold
b) Gold
c) Gold
d) All of the above
Question #3 is unfair.
Gold is like imaginarium if you work for Jeffery Christian at CME Group.
Just imagine that you have some tonnes and then it manifests itself on paper.
I have tried to get my Gold to gain in weight by imagining. But I guess that the process must be a trade secret as my ounces still weigh out as ounces.
Damn. How can my Gold increase like CME Group's Gold increases?
I just must not be imagining hard enough.
Translation...' We have no clue how to save the economy...it looks fucked'.
ECB to buy hookers and blow to boost the economy....
The Ukraine should add prostitution and money laundering to its GDP. Currency crisis solved. You have to admit, compared to the stuff Krugman comes up with, I should get the Nobel for that idea.
BTFD Draghi. FED already has a fairly decent version of the software available. That way Jamie Dimon and Loyd Blankfein can own all the corporations of the world.. Then the collapse will happen, mass depopulation will take place, the ice age will follow and the primitive greed gene will eat itself into extinction.
This is amazing. How is it that smart people are clueless to the obvious? "It's not working so we will double-double-double down?" Trully things are desparate for smart people to rationalize the absurd.
You are not thinking like a psychopath. It is working exactly as it is intended. The central bankers aren't trying to fix anything. They are doing what they are meant to do.... consolidate wealth into the hands of a few, and they are doing an exceptional job at it.
S&P500 coming up for a correction again...then back up to 2100 in a few weeks!
I wonder what they will do when the combined central banks have finally bought it all?
A world where all assets are owned by these self important nuts.
I'm guessing I won't like it!
Molon labe etc.
Keep sticking money in stocks. Their essence is ephemeral. They are only worth what they are PERCEIVED to be valued. That is why they are items of RISK.
A bond is valued both on the return it offers and the PERCEIVED ability of the issuer to repay. Less ephemeral.
We are screwed. Oh....and apparently STUPID.
Happy Monday!
paper gold yea
Gotta love the paper gold scam....taking demand away from physical to suppress the spot price.
Some blame Obama.....some blame Bush.
I blame Dick Nixon....some of you probably don't even know who that is.
Sure, a lot of us do. Don't you remember the campaign slogan by the people who saw it coming? "Dick Nixon before he dicks you!"
I remember Nixon won by a landslide.....but he tripped on his shoe laces.
We can only hope that happens here.
one would hope the presidents are that smart ... i mean to know everything and decide on everything that is going on .... it seems to be a bit overrated ...
i am a simpleton and cannot master a subject all my life (not the smartest in the room i must admit), but really, how can anyone master the most complex subjects from monetary systems to star wars etc .... just sayin'
printing money and making wars. there's nothing complex about that.
and these decisions are not made by the presidents.
I blame the creatures on Jekyll island.
That operation has been exposed.....hopefully someday we'll do something about it.
"hopefully someday we'll do something about it."
that pretty much sums up the problem
For all who can read in Russian: New trick Putin - is the sale of oil and gas only for gold.
Double post
Gold has found a bottom for the time being and will make some gains over the next few months...
http://www.globaldeflationnews.com/gold-elliott-waves-forecast-a-multi-m...
What is the empty promises/ounce of gold ratio?
Rickards is right... When the time comes theyll buy gold in order to generate the inflation theyre desperate for. Its their last card but theyll be forced to do it like FDR was. Only problem is they wont be able to confiscate like last time bc the gold isnt just sitting in bank vaults anymore.
Instead theyll buy paper gold and theyll lose control to the upside once they do imo...
ECB policy is about prompting up zombie banks and nothing more
So now waiting for the dump on USD and gold.
The ECB is British. It's Evelyn's
Land of usury, piracy, and sodomy.
The German's are going to pivot toward Vlad.
Last year the Swiss public gave a resounding "NO" vote to an extra week of holiday a year (for everyone).
Print until it gets better. In 5 years we'll still be on the same path.
More baby boomers retiring either rich or broke and in debt.
USD killing US business. They wont let it stay at these levels much longer...
2000 crisis - dotcom
2007 crisis - MBS
2014 crisis - Gubbamant debt
buy gold? sure, why not? but debt gets paid off largely in USD. hmmmmmm
Buying assets does not save the economy. There is nothing central banks can do to fight unemployment. Even if they manage to fake numbers good enough to keep GDP green, at some point supporting the unemployed will no longer be possible, as being employed does not make a difference for an ever-rising percentage of the workers. Those working for a living wont be able to support their families, causing a full scale collapse of the economy.
Rising wealth inequality will inevitably cause its own demise.
Yes, the object of the inflation is to lower real wages. Asset inflation has been working already, due to the high percentage of the assets controlled by those at the top.
ECB buys Gold ?
LOL ... Who's Gold ?
Do they mean buying the 10,000 tons from the European Countries ... under the ESM / Bank Debt Union trojan horse ?
They can buy my gold....but it won't be for $1200.....cause I'm not stupid.
I'm not sure either. Maybe another 20 years will tell.
Warren Buffett Is Dumping Stocks out the Backdoor, His Impeccable Sense Of Timing Appears To Have Kicked In.
http://investmentwatchblog.com/warren-buffett-is-dumping-stocks-out-the-backdoor-his-impeccable-sense-of-timing-appears-to-have-kicked-in/
i believe that by buying every fr...king asset is just a way to get to socialism. you see, if they buy everything, then they own everything, thus nothing is owned by us anymore.
Exactly.
Want to have a small business? Apply to the State first....
Yes... and they bought it with counterfeit fiat where value comes from debasing and stealing the savings of the little people.
Sure ... Monitize everything .... MONITIZE my DICK you ECB assholes ! so now a barbaric relic is looking good
there is no lower life form than a BANKER ! they are truly the root of evil
What a scam. The B for IS is trying to force some kind of event in order to unite all central banks officially into 1 central bank, a la the old USSR.
Commufascism for us, free wheeling and dealing for them!
And I quote "a lengthy period of lower inflation" aka deflation. I love the way these banker fuck economist torture the english language. They couldn't ask for a glass of water if their hair was on fire. They won't buy gold (physical) but they will buy gold etf's cause they can manipulate the fuck out of the price that way.
And lets face it manipulation is the entire goal of central banking, it isn't to actually improve society through construction of goods and infrastructure, it isn't to do scientific research to produce new and better materials, it is only to manipulate the social reality.
The central bank is economic propaganda, hence the tortured language.
It is always about gold in the end when it comes to banking. They tried other things. Everything failed. The experimenting is over. They need gold in the banking system and at the correct price or they will flame out.
I hope the SUI gold referendum puts the ECB in the Hurt Locker.
Quinvarius - I think you more or less just summarized FOFOA in one paragraph.
So VERY high demand for a low supply of gold. Prices to PLUMMET. Black is white. Up is down.
Do it like Iran:
http://failedevolution.blogspot.gr/2014/11/iran-to-prepare-for-big-curre...
I think ECB is more likely buying chocolate gold coins. I will only believe it when they have done it and audited by 3rd party firms.
DO WHATEVER THE **** IT TAKES
Paper gold or physical gold?
"unconventional measures"
I'd sure like to produce an unconventional display of my disdain for that Orwellian phrase in front of a few high-level, ECB apparatchiks.
I don't think it is remaining negative. The 12 month rate has stayed at the same level for the last 4 days. They both simply have no liquidity. 0 swaps being made at either 6 or 12 month time periods. Everyone is holding onto their gold. No one is lending. The market is dying.
Did any of you notice that Friday was an outside reversal day for gold, silver, gdx, gdxj, etc? I did some research. The last outside reversal day for gold was 12/31/13. That day also coinsides with the last time the volume of the gld was as high as last Friday. The volume on 11/14/14 and 12/31/13 were about the same 22 mil I think.
Trend change? I have to say that I not felt as bearish (more like hopeless) as I did on Friday since I made my first investment in gold. And, I have been hold gold for ten years. I can hardly believe it has been that long.
ECB will buy paper gold; you cannot scam the paper price of gold to infinity when there's no demand anymore, this gives more control over the price. One thing is for sure, moar rape is underway, the only thing that matters for the cb's is to pimp their excel sheets.
They should buy gold and stop dicking around with the CPI definition so that true inflation is reflected. But the short term impact might be staglation which, shaded of Jimmy Carter, would not be a good thing. Damned if they do, but they did it anyway, and damned when they try to correct it. They should have just let capitalism and the markets self correct on its own. They "fixed" it alright by making it much worse down the road!
They should buy gold and stop dicking around with the CPI definition so that true inflation is reflected. But the short term impact might be staglation which, shaded of Jimmy Carter, would not be a good thing. Damned if they do, but they did it anyway, and damned when they try to correct it. They should have just let capitalism and the markets self correct on its own. They "fixed" it alright by making it much worse down the road!
Does Mr. Mensch mean to say in this article that the ECB is going to dump fiat Euro for hard assets like the Chicoms and 3.5 billion members of the human race are already doing? How smart can the ECB guys really be when they're already in the bottom half of the class adn losing ground?
It's all about psychology. Spread the rumor, buy the news. When ECB announces, it won't buy gold .... big surprise.
Not sure Japanese QE has worked? How could it not work? You purposefully tank the currency, creating inflation for the populace and raise their taxes as well. It HAS to work, it just has to, they just haven't done enough. It's so obvious.
If you can print and buy anything-at will, I would till the sellers run out of stuff to sell, I don't see any barriers to more printing anybody that prints less eats shit, everybody is printing and will keep printing to enable better weapons for future thefts
As opposite guy, I'm going to buy some puts. Disclaimer, I am a shitty trader and usually get my ass handed to me. Do not try this at home.
The only thing they will be buying is paper gold
NEXT !!
I continue to sound the alarm that the present insane gold
policy of our political and economic leadership shall land us in the black-hole of
permanent gold backwardation, with a ticket to the next Dark Age of Western
civilization.
-Fekete
They can buy gold from the Fed.
Unlimited quantities. Provided they store at the Fed, next to the German gold.
look up, keysnian financial model, (facist scheme), in websters, and it will read, we have a printing press, and we'll buy anything in order to churn the assets away from the 99%.
just been reading about americas financial woes since 1913, and i'm truely amazed that there's still is an america.
between who we've elected to represent us, and to those they appoint to head govt. agencies, they couldn't of traded americans freedoms away any faster if they tried.
i'm surprised we're not chanting f.e.d., f.e.d., instead of u.s.a., u.s.a..