The Phaserl


Gold – ‘Never Mind’, Quantitative Easing Is A Time Bomb

from The Market Oracle:

John Ing writes: “Never mind” was how Gilda Radner’s character, Emily Litella ended her rants on Saturday Night Live. Ben Bernanke should have said “never mind” after threatening the Fed might take the punch bowl away. Within days, following a panic in the markets he later recanted fearing that the hangover could be worse. The threat of the end of easy money was enough to knock a third off the gold price including a collapse of $150 in only two trading days in April. The prospect of higher rates caused big losses just after the Dow and Standard & Poors reached new highs. While the Fed’s addiction to cheap money eased some of the pain from the financial crises, surprisingly not enough money was printed to sustain global growth. Instead trillions flowed into riskier investments inflating a string of asset bubbles in the financial world, destabilizing normalized markets as investors chased stocks and bonds in the search for higher returns.

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