NICK BARISHEFF & JIM RICKARDS & JIM WILLIE: GOLD TO DOUBLE, FED WON’T STOP PRINTING, DOLLAR TO END IN HYPERINFLATION AND COMPLETE COLLAPSE. A GLOBAL GOLD WAR IS IMMINENT AND INEVITABLE
November 24th, 2012
Fed’s New Indicator-Based Printing Policy Removes Limits
from Wealth Cycles:
We finally last week got the first official confirmation from the Federal Reserve (Fed) that its quantitative easing (currency printing) program will ramp up to a cumulative $80 billion to $85 billion per month early next year. That level of currency expansion is necessary if the Fed is to offset the $10 billion per month contraction in the total “money” supply, which has persisted despite the $40 billion currently printed monthly. In other words, the breathtaking rate at which the Fed is decreasing the purchasing power of your existing dollars will nearly double within a few short weeks.
As cited by Bloomberg:
“I anticipate that we will need to continue our purchases of mortgage-backed securities and longer-term Treasury securities past the end of this year and likely well into the second half of next year,” said Federal Reserve Bank of San Francisco President John Williams, who has a vote on the FOMC [Fed Open Market Committee] meeting to be held next on Dec. 11-12.
James Grant On Bernanke: “The Great Levitation!”
JIM WILLIE: CENTRAL BANK GOLD REHYPOTHECATION SCANDAL TO TAKE GOLD TO $5,000/OZ