The Golden Truth Fri 2010-03-19 12:26 EDT

When Will the Fed Announce More QE (Money Printing to Buy Treasuries/Bad Bank Assets)?

Dave in Denver

I've been getting a lot of inquiry as to when we can expect Banana Ben to announce the extension of the Fed using printed money and Taxpayer guarantees to continue bailing out Big Banks and the Treasury...QE will not end and the Fed will do whatever it takes to continue printing money at an accelerating rate, but in a way that will be insidiously devious...

Buy Treasuries/Bad Bank Assets; Fed announced; Golden Truth; money printing; QE.

Jesse's Café Américain Tue 2010-03-09 17:51 EST

Russia Continues to Build Its Gold Reserves Ahead of the SDR Discussions

Jesse

Thanks to friend Dave at Golden Truth for this updated chart.As you know, Russia, India, China and some of the BRIC-like countries will continue to push hard for a gold and silver content in the new formulation of the SDR this year. The US and UK are vehemently opposed...One cannot have a common currency with uncommon fiscal policies and laws. While there is some room for discretion, it is sorely tried in changing economic conditions and social attitudes...This is why a one world currency, except for international trade only and at the discretion of trading partners, is so dangerous. One cannot maintain their sovereign freedom when someone else controls the supply of their money: either you cheat or you submit. All serious economists understand this; too few of the voting public do...This is the fallacy of the US dollar as the reserve currency for the world. It 'worked' as even Mr. Greenspan noted, as long as the US dollar was able to demonstrate the objective stability of an external gold standard relative to other currencies. That lasted for a few years, and the rest is foreign policy and currency wars. The time for its replacement is long past. The BRIC's understand this, and are playing their hands accordingly...

building; gold reserves; Jesse's Café Américain; Russia continues; SDR Discussions.

Tue 2010-03-09 17:33 EST

The Golden Truth: Is a Big Oil Producer in the Middle East Hoovering Gold?

Yesterday, The Gartman Letter contained a comment from a Canadian "friend" who stated that according to his sources: ...an oil producer in [the Middle East] is converting about 200,000 BPD of oil sales into gold bullion - this offtake would equal about 6% of annual gold production...the quiet flight from dollars is accelerating ...Europeans have become extremely fearful of a global systemic collapse and many wealthy people there are buying as much gold/silver as they can and taking direct possession in order to avoid depository fraud...

big oil producers; Golden Truth; Middle East Hoovering Gold.