“The US Fed would love to have the dollar firm when they announce QE3 because it is going to get clobbered on that announcement. Similarly, I think they want the gold price as low as possible when that announcement is made because it will be taking off to the upside when QE3 is announced. The stock market will also be taking off to the upside from lower levels when the announcement is made. So, I think they could be grooming (managing) the markets as we speak, positioning them for the optimal point of the launch of QE3.”
So said John Embry (www.sprott.com) in edited excerpts from an interview with King World News which can be read in its entirety here.
Lorimer Wilson, editor of www.munKNEE.com (Your Key to Making Money!), has edited the article below for length and clarity. This paragraph must be included in any article re-posting to avoid copyright infringement.
Embry went on to conclude his comments on the subject by saying, in part:
“The reality is the clock is ticking for the launch of QE3, but let me clear up one misunderstanding, at least as I see it. I don’t think QE3 will have any dramatic impact on the economy. The only thing it will do is forestall the implosion from occurring as rapidly. Eventually all of these QE’s are going to manifest themselves in inflation (which hopefully won’t end in hyperinflation), not booming economic activity….”
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folks, it ain’t coming. If the Fed cranks up the printing press, Obama loses any hope of re-election. If the ECB cranks up the printing press, Germany walks. End of story. [Let me explain.] Words: 386