The Central Planners Are Going To Need A Bigger Boat
September 21, 2012
Today 40 year veteran, Robert Fitzwilson, wrote the following piece exclusively for King World News. Fitzwilson, who is founder of The Portola Group, warned, “It is particularly important to have a substantial allocation to the precious metals for the day when control is lost and chaos emerges.”
“The good thing about the Federal Reserve’s announcement is that it removed the suspense and doubt swirling about each and every Fed meeting for the foreseeable future. The only possible blockbuster announcement going forward is one that says that they are reversing course. That will never happen until some form of chaos ensues. They confirmed what we all knew. There is no changing course. There was no alternative path.
We should not feel too bad for the Fed. It is a private corporation owned by banks. The Treasuries that they have accumulated are really calls on the tax revenues of the government. Purchasing mortgages also could put them in the position of being one of the largest holders of real estate under certain circumstances. It is believed that the Fed has also been a significant buyer of U.S. equities….