• Monetary Metals
    05/02/2016 - 01:28
    The price of gold shot up this week, and silver moved proportionally. Headlines are screaming for gold to hit $10,000 or $50,000. Does this alleged new bull market have legs?

UK QE To Resume In October

Tyler Durden's picture

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Wed, 09/21/2011 - 07:43 | 1691635 Gandalf6900
Gandalf6900's picture

I call bullshit

Wed, 09/21/2011 - 07:52 | 1691657 oobrien
oobrien's picture

Brother, let me give you the news.

This is a global economic fuck-up.

Final analysis?

We're all screwed.

Get used to pork and beans for the next 15 year.

Then get ready for war.


Wed, 09/21/2011 - 07:56 | 1691672 UGrev
UGrev's picture

Good thing I love Pork-n-Beans. 

Wed, 09/21/2011 - 08:14 | 1691721 falak pema
falak pema's picture


Wed, 09/21/2011 - 08:32 | 1691802 spiral_eyes
spiral_eyes's picture

4.5% inflation and a huge existing housing bubble not bad enough for Britain?

We need more QE to raise inflation to what? 6%? 10%? 500%?



Wed, 09/21/2011 - 09:08 | 1691866 TruthInSunshine
TruthInSunshine's picture

I said yesterday that The Bernank will do the Twist/Torque, and not outright QE that expands the Fed's balance sheet.

Well, I had a dream last night, and in that dream I was being chased down the street by a tidal wave of fiat. It was a horrific thing; the most ominous of things, as it darkened the sky, building into a massive, cresting wall of money, crashing down upon all the population, crushing everyone and everything in its path.

No one and nothing was spared total annihilation.

And I could hear...I could hear the maniacal laughing of The Bernank & The Alan Greenspan beyond the distance. You see, I had not read until today that Greenspan just happened to show up at 33 Liberty Street yesterday, for a "haircut" (which was really a seance that he held with The Bernank wherein they engaged in ritualistic fiat worship, and sacrificed objects - word is that a rooster, pygmy goat blood, a cigar, some tungsten, gold spray paint, and other objects were used- to Moloch, in The Bernank's office).

The thing that sealed the deal, IMO, is the fact that all these reports are now being leaked to the 'financial media' about industrial companies, insurance companies and soon enough, toy companies, withdrawing their deposits from particular EU member state banks, and depositing said monies directly with the ECB.

So prepare for the tsunami.

And, oh...that pork & beans thing - here's my homage:

Weezer - Pork and Beans
Wed, 09/21/2011 - 07:57 | 1691676 Snidley Whipsnae
Snidley Whipsnae's picture

Pork and beans for Thanksgiving... Grits and greens rest of the year.

Wed, 09/21/2011 - 07:45 | 1691643 dildo o flaherty
dildo o flaherty's picture

Got physical,UKBitchezzz!!???

Wed, 09/21/2011 - 08:04 | 1691666 Michael Victory
Michael Victory's picture



stack it high EuroZoners.

For the stacker's viewing pleasure:

Wed, 09/21/2011 - 07:45 | 1691644 Id fight Gandhi
Id fight Gandhi's picture

Wasn't the snb doing a floor with the chf/eur not a peg?

Wed, 09/21/2011 - 07:47 | 1691648 Josephine29
Josephine29's picture

If we go back to  summer then we got a hint then back on June 23rd.


A Further Bombshell: They are considering more Quantitative Easing

Tucked away in the nether reaches of the minutes was this sentence.

For some of these members, it was possible that further asset purchases might become warranted if the downside risks to medium-term inflation materialised.

Just so everybody is clear on this “further asset purchases” means more Quantitative Easing and on the Bank of England’s track record so far would mean more purchases of UK government bonds which are called gilts.But whilst we knew one member was in favour of more QE we were not as aware as this sentence suddenly made us that several or more were at least considering it. I guess some will be already wondering if our new member the ex-alumni of the Vampire Squid was one of those. However if I move on from the conspiracy end of the spectrum of opinions there was something else significant in that sentence.


Wed, 09/21/2011 - 07:51 | 1691658 King_of_simpletons
King_of_simpletons's picture

World Wide QE soon.

Wed, 09/21/2011 - 08:03 | 1691693 Snidley Whipsnae
Snidley Whipsnae's picture

"World Wide QE soon."

Once one soverign QEs the others must follow or lose competitive export advantage...

After all, this is a race to see who can have the lowest valued currency vs ROW currencies...

Why would this surprise anyone?

How to stop this bs? Repeg every currency (with dirty peg) to a standard; ie, basket of commodities, PMs, oil, or something real... Not fucking paper!

Wed, 09/21/2011 - 07:59 | 1691683 DrunkenMonkey
DrunkenMonkey's picture

Maybe, but the MPC have been whispering sweet nothings about resuming QE since May. The thing stopping them, in my opinion, is the catastrophic effect it will have on sterling.

Wed, 09/21/2011 - 08:09 | 1691709 Snidley Whipsnae
Snidley Whipsnae's picture

"the catastrophic effect it will have on sterling"

Sterling was screwed whe the Brits Empire was lost... Singapore, India, etc

Without the close ties between London Banking and US Banking, US Military support and Fed/Treasury/US Gov support, England would be another also ran country.

Wed, 09/21/2011 - 08:38 | 1691817 Dugald
Dugald's picture


Where is Robin Hood when you need him???

Wed, 09/21/2011 - 08:18 | 1691743 Lord Peter Pipsqueak
Lord Peter Pipsqueak's picture

Does anyone think the Bank of England gives a shit about the sterling exchange rate?They have been constantly devaluing sterling since the end of the First World War,since 1970 alone sterling has dropped from 20 swiss francs to 1.40.

The Bank of Englands main concern is to prevent house prices from falling further and will do whatever it takes to achieve this.

Wed, 09/21/2011 - 08:03 | 1691695 Alex Kintner
Alex Kintner's picture

So I guess the new plan is to wipe out the Savers and those on Fixed Incomes to make ALL debt just shrivel away -- thereby absolving the wreckless bastards who destroyed the world economies.

Poor savers. They actually believed that if they didn't play the risk game, then it couldn't hurt them. Alas the game is rigged.

Wed, 09/21/2011 - 08:11 | 1691715 Snidley Whipsnae
Snidley Whipsnae's picture

"Poor savers. They actually believed that if they didn't play the risk game, then it couldn't hurt them. Alas the game is rigged."

The savers had a choice. Save in gold or save in paper...

You know the rest of the story.

Wed, 09/21/2011 - 08:11 | 1691716 youngman
youngman's picture

I think the end game is inflating this away....that is what they are trying to do..can they?  Can they controll the inflation?  I don´t think so...What if some other country does not like us exporting inflation and starving their people...?  Starve people just to save bankers does not fly for me...Making savers pay for the spenders does not fly for me either..

Wed, 09/21/2011 - 08:23 | 1691767 Snidley Whipsnae
Snidley Whipsnae's picture

Youngman... Central banks have a poor record of control over inflation.

The Fed probably wants inflation of ~ 4% ...but easier said than done. 4% compounded would cut the 'real' debt in half in a few years.

What if inflation targeting fails and we get 10+% inflation? To cool it down would require interest rates be jacked well above inflation... Which would destroy the bond mkt, stk mkt, and whats left of the US Economy...ie, Main St.

Of course the azz hats could once again say... "we believe in a strong dollar" lol

Wed, 09/21/2011 - 08:25 | 1691779 Crash N. Burn
Crash N. Burn's picture

 Nothin' new about it.



 The real question is are you ready for it and how to convince those close to you to prepare.

Wed, 09/21/2011 - 08:20 | 1691754 dildo o flaherty
dildo o flaherty's picture

Im starting to worry about those criminal shits at the fed attacking gold even more fiercely than they have been. Things just don't add up lately.

 Scumbags have something up their sleeve.

Wed, 09/21/2011 - 08:32 | 1691800 Snidley Whipsnae
Snidley Whipsnae's picture

Things the Fed/US Gov could do to hurt gold...

Jack up interest rates... not gonna happen without destroying US Economy.

Declare gold owner ship illegal... I doubt it while China is still encouraging it's people to buy PMs.

Place a large tax on gains on gold... Would create the worlds largest black mkt in PMs, Gov would need a new 'war on PM smugglers' and all the new employees to staff it.

Obvious choke points are the dealers and refiners... They might tax gold there... But that would cause arbitrage opportunities with row PM producers.

Who knows? I know that they will fight like crazy to keep the bs paper games going.

Wed, 09/21/2011 - 09:11 | 1691910 TruthInSunshine
TruthInSunshine's picture

In many ways, ownership of gold versus other riskier assets is already severely penalized.

As just one example, long term capital gains tax on many risk assets equals 15%, while gains on precious metals, including gold, are subject to ordinary, and typically much higher, rates of taxation.

Wed, 09/21/2011 - 08:25 | 1691778 msmith
msmith's picture
More QE. That always the answer that never produces good results. Looks like the EURUSD has decided to makes its move lower.  A bearish trend channel has been formed with downside price action  http://bit.ly/pe7pTO. This should impact equities.
Wed, 09/21/2011 - 08:36 | 1691807 yabs
yabs's picture

definition of insanity

yeah detroy your curremcy when you are an net importer yeah wise move

i feel like sendinmg a death threqat to BOE

this is criminal ifd they do it

an outrage to debase a currency just to get a banker his bonus

Wed, 09/21/2011 - 08:40 | 1691823 tallen
tallen's picture

We just need to get Gordon Brown to be Prime Minister again so he can sell the rest of our gold, and then the UK has officially gone FULL RETARD.

Wed, 09/21/2011 - 08:56 | 1691848 spanish inquisition
spanish inquisition's picture

I have already priced in everything on the list .....I need something more than a promise of infinite printing and complete backstopping from the Fed at this point.

Where is the WOW factor that will get our attention. All I see is some book cooking, lies regarding holding interest rates and some reorganizing of the deck chairs...

Wed, 09/21/2011 - 08:50 | 1691855 yabs
yabs's picture

tis this intentional or are all these peolle ratarded

apparently we need QE as ban\ks have no money to lend

NO SHIT set interest rates at fucking zero and people do not give you deposits

wow nevewr have thought that

instead of QE raise interest rates you fucking idiots

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