First sign of some weakness in the Dow, and we get this.
CIGA Lou Lou
Bullard Says Fed ‘Full Steam Ahead’ With Bond Purchases
By Steve Matthews – Apr 3, 2013 4:12 PM MT
Federal Reserve Bank of St. Louis President James Bullard said the Fed is in no hurry to reduce its record bond buying with inflation running below its 2 percent target.
“It is full steam ahead right now,” Bullard said today on Bloomberg Radio’s “Hays Advantage” with Kathleen Hays. “That is exactly what the committee is doing.”
A voter on monetary policy this year, Bullard was one of the first Federal Open Market Committee officials to urge slowing the pace of bond purchases in 2013 if warranted by economic reports, a position taken by Chairman Ben S. Bernanke last month. In 2010 Bullard initiated calls for a second round of bond buying, which ran from November 2010 until June 2011.
On days like today perhaps the CIGAs should spend their time reflecting on just how different the economic landscape will be when gold reaches it’s full valuation, and on how they plan to deploy whatever wealth they still have.
My wife who was 19 during the collapse of the Soviet Union, listens to me talk about you and says, "I remember people pulling gold and US dollars out of hiding who ate well for a while, but in the long run the people that got rich were the ones who understood that things were going to be very different and acted accordingly."
And so I watched your 2010 Toronto CIGA video and there you are explaining to people that gold won’t make them rich, but rather give them options they wouldn’t otherwise have. I think people who look to you for short term pricing assurances are cheating themselves of a much greater understanding. Too many of your readers seem to be using the dollar price of their gold as a mental crutch to avoid doing the hard work of understanding the failing underpinnings of our system and the consequences that will flow from this failure. So they panic whenever the price falls when it "should be rising" rather than seeing the fall as evidence that things are even worse than we imagine behind the scenes.
The last few days along with the Cyprus story and all that has come from it has once again reminded me that this is really happening. The next few London price fixes ought to be the least of anyone’s concerns.
I fear the worst is creeping towards us… or them. Either way, it’s not good.
CIGA Wolfgang Rech
North Korea declares it has given approval for a nuclear attack on the United States
NORTH Korea has declared it has given ‘final approval’ for a nuclear attack on the United States.
The North Korean army said it would launch "merciless" military strikes on the United States, involving the possible use of "cutting-edge" nuclear weapons.
In a statement published by the official KCNA news agency, the General Staff of the Korean People’s Army said it was formally informing Washington that US threats would be "smashed by… cutting-edge smaller, lighter and diversified nuclear strike means".
"The merciless operation of (our) revolutionary armed forces in this regard has been finally examined and ratified."
The declaration came minutes after the United States announced it would deploy a land-based missile defence system to Guam to counter North Korean threats of a nuclear strike.
When people are lucky enough to know the key to monetary self preservation, yet are unable to mentally sustain ticker-fibrillations and anything other than Xanax-calmed waters; then perhaps even a pocket full of gold won’t help them when the time comes. If they haven’t got what it takes for the journey, then whose laurels do they wish to claim? Will they expect you to guide them still even then with advise as to how to use gold? I implore you, let them be.
What little I’ve got left, it’s all in PMs. One day I will thank You for that. Personally, I like battles. And I am having a bloody great time.