The Fed announced the beginning of QE3 with $40B in purchases ofMortgage Backed Securities PER MONTH without stating any end date or dollar amount. Here is the statement:
“the Committee agreed today to increase policy accommodation by purchasing additional agency mortgage-backed securities at a pace of $40 billion per month.”
“If the outlook for the labor market does not improve substantially, the Committee will continue its purchases of agency mortgage-backed securities, undertake additional asset purchases, and employ its other policy tools as appropriate until such improvement is achieved in a context of price stability. “
No limits. No end date. This is QE to INFINITY!
Make no mistake…this is all on purpose. This is the END GAME and the blame for the global meltdown will be placed, rightfully, on the shoulders of the Federal Reserve.
Basically, the Fed has chosen to FALL ON IT’S OWN SWORD!
The Gold and Silver move upward has caught all the shorts off guard. The Bad Guys are in deep, deep trouble as they took their cues from the likes of Jeffrey Christian and Jon Nadler who were advising EVERYONE to short gold and silver.
Now it gets exciting!
PS – Ron Paul just happens to be speaking tomorrow night at the Liberty Political Action Conference…if you think that is a coincidence then I have some lovely swamp land to sell you in Florida!
The world is about to change.
May the Road you choose be the Right Road.