Political Metals

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With the September 13 FOMC announcement, everything is now in place; Open-ended government bond purchases by the ECB and open-ended Mortgage-backed securities (MBS) purchases by the Fed. Central bankers on both sides of the Atlantic launched what Jim Sinclair called “QE to infinity” within days of each other, setting the global stage for inflation on an unprecedented scale. Unlike all other previous money printing policies, this coordinated central planners’ action has no quantity or time limits.

Coupled with the extension of zero interest rate policy (ZIRP) from 2014 to 2015 in the US and negative interest rates in some European nations, central bankers and governments of the two largest economies on the planet have fired their last bullets in a desperate attempt to revive the economy and reduce unemployment. Will it work? Peter Schiff of Euro Pacific doesn’t think so. He thinks it’s an Operation Screw. What about you?

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A play in one (very) short act…
by Paul Tustain | CEO Bullion Vault

“UNCLE BEN, what’s that over there?”

“Shush, my child.”

“But Uncle Ben, isn’t that the place we’re trying to get to?”

“Yes it is my child.”

“But Uncle Ben, we’ve been walking for ages, and it looks even further away…and there’s a highway in front of us, and Mummy and Daddy always told us never to cross the highway.”

“Don’t fret my child. You’re with Uncle Ben now. We crossed the highway three times
already. It’s perfectly safe.”

“But Uncle Ben, you said we’d only have to cross the highway that one time. And this is the
fourth. And we’re still not getting any nearer. And why do we have to wear blindfolds to
cross the highway anyway?”

“Because, my child, it’s exactly the way we did it before, and we wouldn’t change something
now we’ve proved it’s safe, would we? Besides, Mummy and Daddy told you to trust your
Uncle Ben, didn’t they?”

“OK then, Uncle Ben, if you say so. “

“Uncle Ben, what’s that noise?”

“It’s nothing my child – just the wind.”

“But Uncle Ben, it’s awful loud. And I think it’s getting nearer.”

“Shush, my child. Just keep a tight hold of my ha… “

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