We haven’t updated in awhile, quite frankly getting sickened with all the lies from the powers that be, the ignorance of the general public believing it for the most part, and the highly paid media adhering to their reporting guidelines.
Soooo without further ado, here’s our take 1 on the recent happenings that have had gold and silver swinging like a pendulum over the last sixty/ninety days.
First and foremost we will address the supposed tapering from The Federal Reserve’s notorious Ben Bernanke.
As over 70% of the countries top economists thought a tapering of some sort was coming due to the happenings at Jackson Hole, their ended up being an empty easter egg at the end of it all. What these lucky, “stick to your story long enough and you will eventually be right” economists failed to pay any attention to was, the pressure Bernanke received from the international community, mainly from the managing director of the International Monetary Fund during the recent Ambrosetti forum in Northern Italy. One interview with CNBC though not directly sent to anyone in particular, says it all;
“Very negative spill-over effects on the emerging market economies could very much backfire on other economies. So to assume that [the] domestic economy is totally isolated, that a country is an island, would not be the right approach,”
“On the other hand, the advanced economies acknowledged that the tapering of the unconventional monetary policies, though left to the central banks, had to be orderly, well communicated and had to be done in dialogue with other economies of the world,” Lagarde told CNBC on the sidelines of the Ambrosetti Forum
To think that a mere personal desire by Mr. Bernanke to slow down our massive financial printing press before he leaves his seat is a little naive….Bernanke does answer to higher powers.
And no, the unemployment and inflation numbers did not justify a decrease either, according to Bernanke’s own criteria
There were discussions concerning the Feds tapering held at the G20 summit as well, where everyone’s focus was on the Syrian gas topic. Not one of these economists I heard of that said a taper was inevitable paid attention to any discussions concerning the financial situation that went on in Russia. The fact that a joint statement was put out by the BRIC countries concerning a fund which is meant to help stabilize the volatility that will arise in the global currency markets when the pullback of monetary stimulus happens in the U.S. was not heavily mentioned in US media. The fund was supposed to be $240 billion, but only $100 billion was committed to by BRIC members. The conclusion that was arrived at during the summit was that the funds would not be functional for some time yet.
In other words…. don’t taper Mr. Bernanke, we need a lil more time. Please!
Simply put, the international community knows things will implode as soon as the juice is gone, evident by Lagardes following comment;
“Yes, we will talk about hiccups on the road, we will talk about bumps and we will talk about difficulties and there will be little casualties here and there but there has been huge progress,” (quote was made in regards to the EU recovery)
Keep in mind, “little casualties” to the individuals involved in these discussions are catastrophic to others. Position yourself accordingly.
Quotes in this article were pulled from Ansuya Harjani’s | CNBC interview
-By CNBC’s Ansuya Harjani; Follow her on Twitter @Ansuya_H