and what to do next: "Today’s unprecedented announcement by the world’s most powerful central banks was a loud and clear bell ringing to buy precious metals. The move, disguised as an attempt to help the fragile state of the global economy, is in reality a move to prop up failing banks in Europe and the US. By reducing interest rates paid for dollar swaps, central bankers are in effect increasing the quantity of global dollars in circulation. The result? The dollar will weaken, inflation will rise, and gold will soar. Gold was up more than $30 today, and the dollar got crushed. I urge you to take 7 minutes to watch the video I recorded exclusively for my subscribers a few hours ago. It explains, in plain language, what happened today – and what is the likely outcome for your portfolio. This may be one of the most important economic events of the year." And pardon Schiff's self-promotional piece at the end, but the truth is that he is essentially correct about what the actions means from a big picture perspective. Furthermore, as Goldman made all too clear, this is merely the beginning as more and more inflationary actions have to be undertaken by
http://www.zerohedge.com/news/peter-schiff-explains-what-todays-global-fed-funded-bailout-means-future?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29
Money 4 Nothing
Money 4 Nothing's picture
Has the Schiff hit the fan? PM's people, but the math I did today dosen't add up to what the Fed's pumped in to the ratio of what Gold appritiated today. But WTF do I know?
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Wed, 11/30/2011 - 19:42 | 1933266 Mactheknife
Mactheknife's picture
He may be right in the long run. But for now I think he is wrong. The dollar is going to 89, it's just building up some steam for a higher move. Gold only traded 14k contracts today which is nothing.
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Wed, 11/30/2011 - 19:46 | 1933283 Clint Liquor
Clint Liquor's picture
The bullshit paper Gold market is meaningless.
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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