Friday, September 14, 2012
Gold & Silver Rally after QE3 Announcement by The FED
Gold and Silver prices rallied after FED's chairman Ben Bernanke announced a new plan to purchase up to $40 billion a month of agency mortgage-backed securities, and they also announced an extension of their Operation Twist. This is the third round of bond purchases or quantitative easing from the Fed, known as QE3. Gold and silver surged on the news, silver 4% and gold 2% within an hour.The ponzi scheme is alive and well. The Federal reserve buy mortgage based toxic assets( think sub-prime mortgage fiasco) and the US taxpayer pays for it.The National debt increases and the economy continues to flounder. The Wall Street banks rid themselves of their toxic derivatives and the people hold these worthless bonds. The Dow Jones rose by 200 points on the announcement. When will the people wake up to what is going on? The Wall Street banks are laughing, literally all the way to the bank.Gold and silver are the essence and basis of wealth as these metals cannot be man-made economically ,Buy gold and silver for your own sake .