The Phaserl


The Best Bet Against a Reckless Fed

by Dan Amoss, Daily

If you’ve been wondering if the Fed will ever destroy the trillions of dollars it has printed since 2008, wonder no more…

Since 2007, the U.S. monetary base has soared from $800 billion to $3.7 trillion. Such unprecedented inflation is the product of round after round of quantitative easing (QE):

Each time the Fed launched a new QE program, it assured the public it had an “exit strategy” from unconventional policy. Investors assume an exit strategy involves reversing QE — selling assets (Treasuries and mortgage-backed securities) and destroying the money the Fed had previously created. But if you pay attention to the key decision-makers at the Fed, it becomes clear that odds of a shrinking monetary base are next to nil…

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1 comment to The Best Bet Against a Reckless Fed

  • rich

    COMEX Needs 50+% More Registered Gold for February

    JP Morgan Stopped 96% of Notices in December
    10,157 December 2013 COMEX Gold future contracts stood for deliver on first notice day November 27th. By December 30th, the end of the contract month 64% or 6,493 delivery notices were issued and stopped. The remaining open interest was lost; possibly to cash settlements or rolled over to new, future dated contracts. JP Morgan house account stopped 6,254 or 96% of the delivery notices. Thus ownership of 625,400 ounces of gold in COMEX registered inventory was transferred to JP Morgan during December. CME Group reporting shows that HSBC, Bank of Nova Scotia, and Jefferies Bache were the largest issuers.

    For comparison, in December 2012 there were 3,253 delivery notices or 46% of the 6,999 contracts that stood for delivery on first notice day. The bar charts below show how deliveries and lost contracts progressed each day of the December contract month.

    JP Morgan Now Owns Most Registered COMEX Gold

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