My Dear Friends,
- As Bill has mentioned previously, neither he nor I ever disagreed with Armstrong and Dent of the advent of dire business circumstances.
- Our difference was in what such a re-occurrence of 2007 to 2009 would mean in the market for silver and gold.
- You need no more proof than today’s presentation by Chair Yellen as to how all central banks in the global community will react.
- They will simply burn their own and everyone else’s barn to the ground.
- Helicopter Ben was only a side show compared to Air Attack (airborne fire pilot’s rating) Yellen.
- She will fly in tight formation with other central banks, bomb bays open and drop unlimited credit cards in all denominations of fiat currency.
- The hawk statements are pure lies.
- The worst fabricators are the make believe economic statistics.
- The cheerleaders are the talking heads and MSM.
- The rally from the low in gold has $2100 written on it.
- The angels are starting to function again. That function is simply a welcome back by those who made them rise above $1900.
- The key to $3500 in gold is your answer to a simple question. What is the value of a commodity in gold that cannot function? These are now starting to compete with the old OTC derivatives in the leverage of traded ounces to warehouse ounces. Just like how the OTC derivative failed, so shall the Comex contracts.
- The next morning the gold price on physical will be whatever Russia and China desire. This is the overnight change that will shock the world.
- China and Russia do not buy gold to make an investment or diversify their reserves. The buy gold as an economic and political policy.
- This overnight event will prove the saying true that the right time to buy gold is anytime.
In gold nobody ever promised us a rose garden. The violence we will see in this market is only hinted at now. It is not for the faint of heart. It is, however, for your protection and the only device that will offer that.
Yellen: Fed to move ‘cautiously’ on rate hikes
Paul Davidson, USA TODAY 5:59 p.m. EDT March 29, 2016
Federal Reserve Chair Janet Yellen said Tuesday the central bank will move cautiously as it weighs interest rate hikes in light of a weak global economy and stubbornly low inflation, raising questions about whether policymakers will make a move this spring.
“Given the risks to the outlook, I consider it appropriate for the (Fed’s policymaking committee) to proceed cautiously in adjusting policy,” Yellen said in a speech to the Economic Club of New York.
Her remarks are consistent with the surprisingly wary posture the Fed adopted after a March 15-16 meeting in the wake of a rebound in financial markets and an uptick in inflation. That view was cast into doubt last week after Atlanta Fed President Dennis Lockhart and St. Louis Fed chief James Bullard provided generally upbeat appraisals of the economy and said policymakers could lift rates as early as an April 26-27 meeting.
Yellen, however, said the risks of raising rates too soon and derailing growth outweigh the hazards of the Fed needing to catch up to a stronger-than-expected economy, largely because policymakers have fewer weapons to jolt the economy with its benchmark rate still near zero. The Fed raised the rate in December for the first time in nine years.
“If economic conditions were to strengthen considerably more than currently expected, (the Fed) could readily raise (rates) to stabilize the economy,” Yellen said. “By contrast, if the expansion was to falter or if inflation was to remain stubbornly low (the Fed) would be able to provide only a modest degree of additional stimulus by cutting the federal funds rate back to near zero.”
If there is a downturn, Yellen said still has tools. It could assure markets that it will keep its benchmark rate lower for longer. And she said policymakers could resume bond purchases to hold down long-term rates. But she made no mention of negative interest rates – a strategy being pursued by the European Central Bank, Japan and several other countries — possibly indicating she doesn’t consider that a viable option.
Bill Holter’s Commentary
“Especially warranted” if she doesn’t want to take the blame for the coming financial panic!
Yellen Says Caution in Raising Rates Is ‘Especially Warranted’
Federal Reserve Chair Janet Yellen said it is appropriate for U.S. central bankers to “proceed cautiously” in raising interest rates because the global economy presents heightened risks.
The speech to the Economic Club of New York made a strong case for running the economy hot to push away from the zero boundary for the Federal Open Market Committee’s target rate.
“I consider it appropriate for the committee to proceed cautiously in adjusting policy,” Yellen said Tuesday. “This caution is especially warranted because, with the federal funds rate so low, the FOMC’s ability to use conventional monetary policy to respond to economic disturbances is asymmetric.”
Fed officials left their benchmark lending rate target unchanged this month at 0.25 percent to 0.5 percent while revising down their median estimate for the number of rate increases that will be warranted this year to two hikes, from four projected in December.
U.S. Treasuries advanced following her remarks, while the dollar weakened and U.S. stocks erased earlier losses. The Standard & Poor’s 500 Index was up 0.5 percent to 2,046.90 at 1:52 p.m. in New York, after falling as much as 0.4 percent.
Bill Holter’s Commentary
Say it isn’t so!?
Top German Journalist Admits Mainstream Media Is Completely Fake: “We All Lie For The CIA”
Submitted by Tyler Durden on 03/28/2016 22:40 -0400
With the increasing propaganda wars, we thought a reminder of just how naive many Westerners are when it comes to their news-feed. As Arjun Walia, of GlobalResearch.ca, notes, Dr. Ulfkotte went on public television stating that he was forced to publish the works of intelligence agents under his own name, also adding that noncompliance with these orders would result in him losing his job.
He recently made an appearance on RT news to share these facts:
I’ve been a journalist for about 25 years, and I was educated to lie, to betray, and not to tell the truth to the public.
But seeing right now within the last months how the German and American media tries to bring war to the people in Europe, to bring war to Russia — this is a point of no return and I’m going to stand up and say it is not right what I have done in the past, to manipulate people, to make propaganda against Russia, and it is not right what my colleagues do and have done in the past because they are bribed to betray the people, not only in Germany, all over Europe.
Bill Holter’s Commentary
What are they expecting?
US ORDERS DIPLOMATIC, MILITARY FAMILIES OUT OF SOUTH TURKEY
BY MATTHEW LEE AND LOLITA C. BALDOR
WASHINGTON (AP) — The State Department and Pentagon ordered the families of U.S. diplomats and military personnel Tuesday to leave posts in southern Turkey due to “increased threats from terrorist groups” in the country.
The two agencies said dependents of American staffers at the U.S. consulate in Adana, the Incirlik air base and two other locations must leave. The so-called “ordered departure” notice means the relocation costs will be covered by the government.
Pentagon press secretary Peter Cook said no specific threat triggered the order, but said it was done “out of an abundance of caution” for the safety of the families in that region. He said he was not aware of a deadline for the families to leave, but said “this will move very quickly.”
In a statement, the military’s European Command said the step “allows for the deliberate, safe return of family members from these areas due to continued security concerns in the region.”
The orders cover the Adana consulate, U.S. military dependents in Incirlik, Ismir and Mugla as well as family of U.S. government civilians at Ismir and Mugla. The State Department also restricted official travel to that which it considers “mission critical.” Cook said that the order does not affect about 100 family members who are based in Istanbul and Ankara.
Jim Sinclair’s Commentary
You could not make this stuff up. No one would believe you.
Full Metal Retard Part Deux: CIA-Backed Rebels Now At War With Pentagon-Armed Fighters In Syria’s Aleppo
Tyler Durden on 03/28/2016 19:45 -0400
It would be difficult to find a program that better exemplifies the word “failure” than the Pentagon’s “train and equip” effort in Syria.
Last May, US Central Command issued a hilariously absurd press release outlining what was quite obviously going to be a disastrous effort to arm rebel fighters. “The US military and partner forces have begun training the initial class of appropriately vetted Syrian opposition recruits this week to support the effort to degrade and ultimately defeat ISIL in Syria,” the PR read.
The idea was to field a contingent of more than 5,000 fearsome warriors by the end of the year.
Long story short, the effort was a fiasco – a complete debacle – a hilarious screwup. First, Colonel Nadim al-Hassan and an unknown number of other fighters from “Division 30” were kidnapped in the Aleppo countryside in July. “A senior U.S. defense official confirmed the snatched fighters had gone through the initial vetting process to receive training in Turkey,” The Daily Beast wrote at the time. “But then, for reasons that remain unclear, they traveled to Syria before they were ready to do battle with ISIS.” Subsequently, al-Nusra simply arrested them at a checkpoint near Zahart al-Malkia.
“We warn soldiers of (Division 30) against proceeding in the American project,” the al-Qaeda affiliate said in a statement distributed online. “We, and the Sunni people in Syria, will not allow their sacrifices to be offered on a golden platter to the American side.
As humiliating as that most certainly was, it got far, far worse. In late September, rumors circulated that Division 30 commander Anas Ibrahim Obaid had defected to al-Nusra after he disappeared in Aleppo.