Monthly Archives: March 2013

The Fed’s Tightening Pipe Dream

Posted on March 1, 2013 by admin

In his March Gold Letter released today, Peter Schiff explains why he’s not buying into the rumors that the Fed is actually going to tighten its monetary policy any time soon. There’s also an insightful commentary by Jeff Clark of Casey Research urging you to take a cue from central banks around the world and buy gold.

“Testifying before the US Senate this past Tuesday, Fed Chairman Ben Bernanke made an extraordinary claim about its bloated balance sheet: “We could exit without ever selling by letting it run off.” What Bernanke means here is that the Fed could simply hold its Treasuries and agency bonds until they mature, at which point the government would then be forced to pay the Fed back the principal amount. Through this process, the Fed’s unprecedented and inflationary position will be gradually and placidly unwound.

Growing rumors last month of a potential “tightening” of monetary policy – seemingly confirmed by the Fed minutes released on Feb. 20th – have spooked the precious metals markets, leading to a 5.8% correction in gold and 10.2% in silver.”

Continue Reading Peter Schiff’s Gold Letter

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It’s Good to Be a Banker (Video)

Posted on March 1, 2013 by admin

Yesterday, Peter Schiff appeared on Russia Today to talk about the false recovery and how the bankers and government bureaucrats are living high at the expense of Main Street.

“It’s not like what’s good for the Wall Street banks is good for America. That’s not the case. Actually, what’s good for those banks in the short run is actually quite bad for America, because we’re diverting resources that are badly needed in other parts of the economy and we’re sending them to Wall Street. What we need is more factories in this country, not more banks. We need to produce more, we need to export more, we need to save more.”

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Today’s Key Gold Headlines – 3/1/13

Posted on March 1, 2013 by admin

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