All specialists know their field very well. As limiting as that is. It doesn't mean they know everything though. The vast majority of specialists only know what they know - they have very little understanding of anything beyond their own well understood theories or talents. This applies to all professions or skills, regardless. A butcher doesn't make a great farmer just because he hangs around beef carcasses all day. A Chippendale doesn't necessarily make a good husband either It is impossible for any individual human to have the answers to everything, and it is highly unlikely that once an eminent person in any field realises this, that they would surround themselves with people of differing opinions. Bernanke knows what he knows very very well. It's just that what he and his minions know and what we know are on a collision course.
don't panic. benny is ready to act. http://www.marketwatch.com/story/be...t-2012-07-17-1091012?link=MW_home_latest_news
He's sending mixed messages at the moment, first saying that cuts to public spending should be the governments top priority and then goes on to say the cuts necessary will hurt the economy. Wish he'd make up his mind. I'm quite surprised by traders dumping paper gold/silver on no announcement of qe3, what did they think was going to happen in an election year? If benanke screws up obamas chances of reelection, and the republicans get in there is a high likelihood that there will be a full audit of the fed and he'd be out of a job.
Fricken mixed messages! How long until they HAVE to do QE3 anyone? Another few months? After the elections?
Uggghhhhh........ Looks like my gold stocks will cop another beating today. It's been one leg up, two legs down for months on end.
These smackdowns reek of manipulation. Like clockwork, every time Bernanke takes the stand before congress, Gold & Silver are smacked down. Often this is because massive volumes of GLD & SLV paper is dumped onto the market by only a handful of 'sellers' while he is actually speaking (probably the same big US banks that 'own' the fed). Unfortunately for those that have put, or are considering to put their life savings into real money (that being physical gold or silver), this is as much an attack on your fundamental outlook across this unstable global economy as it is on your wealth. What purpose would this serve the powers that be? To send a clear message to anyone who is game enough to take the opposite side of their bet on the ponzi paper house of cards they are building & protecting. A bridge to far? Perhaps, but consider this; If you had spent a century building not just a nation, but a global economy, and a global military to protect your and your 'allies' market share, via capital that was only available via massive fiat expansion. You would in effect be building your empire atop the biggest ponzi house of cards in existence, where in each card was a treasury bond that since 1971 has had no backing other than faith. The only way you could build this ponzi scheme this large would be by maintaining an illusion about how robust this paper scheme is. To Keep the faith you would have to move into place via a revolving door between the executive board rooms of the worlds largest corporate banks that happen to call you nation home, and the appointed positions at the top of each supposed 'independent' governing regulator (like this ex Goldman Ball Sach http://www.cftc.gov/About/Commissioners/GaryGensler/index.htm. This way a blind eye could be cast at any necessary market manipulation to keep the gravity defying house of cards from falling as it should. Think about it; It's the ultimate Punch & Judy show. Ultimately stacking physical is betting on this house of cards eventually collapsing. We are taking the opposite side of the bet to these peddlers of fiat & bullshit. Knowing how big the house of cards is, and what sort of economic 'winds' and turmoil are brewing in the real world, we would be stupid to do otherwise. Physical precious metals historic roll in accounting for ALL DEBT will soon be realized again as it has always done throughout the last 2419 years of human economic activity.
I know that I seem to be better at managing my own health than any GP that I have encountered, and my personal finances are in relatively better shape that any of the world's major economies.
Yes,gold can make the faults obvious and manipulators of financial systems and currencies have to hate it.It will cop a battering.Expect a roller coaster ride.They will not give up easily and may win.
If it happens I think the general consensus is after the election towards the latter part of the year being December or January-2013. Like others have said the economy will have to deteriorate more. I wouldn't expect it anytime soon. The main thing to watch is jobs. It's a big wait and see. I look at it as being a buying window left open for a while longer. I'm certainly not afraid to be buying right now. I think the "general consensus" is that the bottom is in for PM's and will continue to go side ways between 26.50 and 28.00 US$ for a while. From what I understand money has been taken off the table to cover losses in other investments by selling PM's and folks will eventually start buying again. I think there has been some institutional buying and that may be what is propping the metals up. I also may be just talking out my rear end so please don't quote me or expect to get me riled up. It's only my opinion and snippets from what others have said. Who knows!
