Bernanke Confirms QE3 A Go
Posted by Ann Barnhardt - July 13, AD 2011 9:42 AM MST
"When you see that in order to produce, you need to obtain permission from men who produce nothing; when you see that money is flowing to those who deal not in goods, but in favors; when you see that men get rich more easily by graft than by work, and your laws no longer protect you against them, but protect them against you...you may know that your society is doomed."
- Ayn Rand - Atlas Shrugged
Citation Here.
You knew this was coming. Also, the fake "debt ceiling" will be raised by $2T. Geithner told Congress on May 4th that that was what was going to happen, repeatedly stressing that "they" needed $2T to spend BEFORE THE ELECTION. Everything was relative to the date of the 2012 election. I PROMISE YOU, the Republicans will fold within days and the original $2T demand from Geithner WILL be given to Obama. Mitch McConnell has already leaked how it will be done - in three "installments". Everything you are seeing right now is pure theater. And we are falling for it like the total chumps that we are.
Here is the May 4th citation:
http://www.reuters.com/article/2011/05/04/us-usa-budget-limit-idUSTRE7434UG20110504Talk is starting to enter the metals trade that gold could be on the brink of a massive "parabolic" run akin to the Minneapolis Wheat market of 2008, wherein the price of wheat increased almost 500%. Assuming a starting point of $1500 gold, that would take gold to $7500 per ounce. But don't worry. I'm sure that will have ZERO effect on crude oil prices - or at the very least will be offset by all of the wonderful efficiency advances in "green energy".
One more time, because people still aren't comprehending this. Bernanke is not trying to "help" the economy. Bernanke does not actually believe that printing more money is going to "help" or "stimulate" anything, because actually stimulating the economy is NOT his objective. His objective, with the Obama-Soros regime, is collapsing and destroying the economy. Bernanke is not "surprised" at the fact that economic growth is nil and that there is no recovery. No one is that stupid. Don't get me wrong - Bernanke is indeed stupid - but NO ONE IS THAT STUPID. Bernanke is a criminal and a liar who, for some reason, be it bribery, threats against him or his family, or just plain Marxist malice, is consciously trying to collapse the economy. Read this over and over again until you fully understand. There is no rational explanation for any of this, just as there is no rational explanation for throwing gasoline on a fire that you claim you are trying to extinguish. We are at war, and these people are the enemy just as sure as the Nazis and Japanese were the enemy in WW2.
Silver is up 2.50 per ounce and gold is making new all-time highs, and we will probably see $1600 gold by Friday's close. Corn is up 70 cents per bushel since YESTERDAY.
Guys, when I say no naked short hedges and stay the hell out of the way, I really, really mean it. Shorting an inflationary market is not managing your risk. It is suicide. The reason these brokers and consultants keep preaching to you that you need to "hedge" is because they are imbeciles who only know a few buzzwords and catchphrases, which they parrot mindlessly because that is all they can do. They aren't "smart". My God, they can't even figure out that being short in an inflating market is going to result in UNNECESSARY LOSSES and will convert your physical commodity inventory back into evaporating U.S. dollars. If the risk is wealth destruction from holding U.S. dollars, how stupid do you have to be to recommend that people convert their physical assets back into U.S. dollars via uber-leveraged derivatives - and then call that "risk management"? Seriously. Sit in stillness with that.
UPDATE: Here is Ron Paul grilling Bernanke this morning. Bernanke actually says that gold is not money and the only reason central banks hold it is "tradition". I kid you not. If gold isn't money, then there is no money. Think about that for a moment.
Ron Paul vs Bernanke: Is Gold Money? - July 13, 2011