US job growth came in lower than expected in August, and the unemployment rate dropping to a four-and-a-half year low as workers gave up the search for work in the US could delay the Federal Reserve's scaling back its massive monetary stimulus later this month. James Rickards does NOT believe they will be able to taper any QE in 2013. Here is an excerpt of what he said: "I don't think it's going to happen. Certainly it's on the agenda in the sense that the Fed is talking about and thinking about it they certainly would like to taper. I don't think there's much doubt about that. And to a great extent the markets have priced that in. I don't think the Fed actually will taper in September in fact, I don't think they'll do it at all this year and the reason is I'm sort of taking the Fed at their word. They said we'd like to. Tapering is the jargon, it's reducing asset purchases, but asset purchases are the way they print money. So what they are really saying is we are going to print less money." Read more: http://wp.me/p3GFw1-KY [youtube]http://www.youtube.com/watch?v=3WfVrN-pFC4[/youtube]
I like Jim Rickards. He's one of the few people I always pay attention to, being one of the more sensible and balanced commentators out there. It's probably because his interest in not in precious metals, but in monetary systems as a whole.
Let's see if Jim Rickards is right about this month. What do you guys think, will the Fed taper QE in December??
Yesterday's jobless claims would suggest no. CPI figures next week should be the final factor but even so I doubt there'll be any taper. If next years 1st quarter GDP figures come and go without any taper, regardless of what silver and gold are doing at the time I intend on buying large. There's only so many times the Fed can cry wolf and the markets will still believe them.
I think Fed can taper for a about a month, just to scare the sh%t out of everyone and create market drop or whatever. Not in December though. They will however re-start tapering after that as they don't really have a choice, because without it US has to default and looks like they rather see it to hyper-inflate than default.
Bernanke wants below 7% employment......Ummm o.k......What about the 40 odd Million that are on food stamps? Even Rickards said it in another clip posted by Julie W that the U.S is ALREADY in a depression.......They're not going to fix this EVER! I've seen youtube clips of families living in cars in special overnight car parks, and families in empty houses with no electricity and no food in the fridge because of long term job losses........The people that have jobs are o.k what about the rest?
Good clip I just found from July.......Only 2 views. I just made the very first comment! http://www.youtube.com/watch?v=PyttJ6Or7Gs And another good one explaining the 'Invisable Depression' that the masters have designed and are controllling. http://www.youtube.com/watch?v=qSbwC97mT3w
