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chrislbecker.com by Chris Becker is licensed under a Creative Commons Attribution-ShareAlike 3.0 Unported License.
Ben Bernanke announced QE to infinity last night. The US dollar weakened across the board, and everything else, surged.
This is what gold did.
In Rand terms, gold is up to R14,600/oz which is a few Rands below record highs.
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QE 3 is called ‘Operation Screw’ by economist Peter Schiff. Peter Schiff predicted the ’07/08 crash of the US real estate market. He notes that QE3 will lead to another super bubble in real estate. http://soundmoneysa.co.za/2012/09/peter-schiff-and-others-explain-operation-screw-the-feds-new-qe/
To me, this seems like nothing other than an organised attack on paper money and we’re all going to get screwed because of the inflation exported by the FED and the ECB.