| 18 September 2012-Silver Dollar Values Prices Skyrocketing, Schiff Admits QE3 Kills Gold Price & Silver Price Ceilings |
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Silver Dollar Values Prices Skyrocketing, Schiff Admits QE3 Kills Gold Price & Silver Price Ceilings PRLog (Press Release) - Sep 18, 2012 - Peter Schiff, chief management officer of Euro Pacific Capital, lately gave an interview talking about the prospects of gold prices. When questioned how high the price of gold might reach, he responded that there's no ceiling for the valuable metal, because there's no limit on just how much cash will probably be printed. The Federal Reserve’s newest announcement verifies this theory, and paves the way for a lot greater gold prices and silver prices. How High Will Silver Go? >> http://www.silver-dollar-values.net On last Thursday, the central bank proved it's prepared to do whatever it will take to prop up asset prices in an effort to trigger a wealth impact amongst customers and spur a recovery. The Federal Open Market Committee launched however an additional quantitative easing plan. This time around, the Federal Reserve will purchase agency mortgage-backed securities at a pace of $40 billion each month, in addition to its present Operation Twist 2 plan. The net impact of those actions will increase the Federal Reserve’s long-term portfolio by about $85 billion every month through the end of the year. Moreover, the central bank expanded out its zero interest rate policy to a minimum of mid-2015. Curiously, QE3 will probably be open-ended, which means that the Federal Reserve has no set restriction to how long the fresh cash printing will last. It'll also conduct extra asset purchases when the labor marketplace doesn't enhance. In a press meeting following the statement, Fed Chairman Ben Bernanke explained, “We’re looking for ongoing, sustained improvement in the labor market. There’s not a specific number we have in mind. What we’ve seen in the last six months isn’t it.” The ongoing unemployment rate in the U.S. has stayed above 8 percent for 43 successive months. Although the announcement of the first open-ended plan in the Federal Reserve’s history was difficult enough on the U.S. dollar, the central bank explained it'd maintain its finger on the print button till well after a financial recovery takes place. “To support continued progress toward maximum employment and price stability, the Committee expects that a highly accommodative stance of monetary policy will remain appropriate for a considerable time after the economic recovery strengthens,” in accordance with the FOMC statement. Bernanke later included, “We’re not going to rush to begin to tighten policy.” Rare Coins, Silver Coins, Gold Coins http://www.silver-dollar-values.net A Bernanke directed Federal Reserve has been very kind to gold and silver. Ever since the Chairman was appointed in early 2006, the price of gold has elevated from $570 an ounce to more than $1,700 an ounce. In exactly the same period, the price of silver has surged from $9.70 an ounce to over $34 an ounce. Following QE3 was announced, each precious metals outperformed as anticipated. Gold rapidly elevated $38, while silver jumped greater than $1. At the same time, the U.S. dollar index, which compares the greenback in a basket versus six other fiat currencies, fell to 79.25 and reached its lowest level against the euro since May. On last Friday, the dollar carried on its decline. In the media conference right after the print-to-infinity-and-beyond announcement, Bernanke also stated, “We can’t solve this problem by ourselves.” Nevertheless, who's the Chairman hinting to for help, the federal government? The country’s two political parties seem to become unable to agree on anything nowadays, and their most current accomplishment entails pushing the official national debt right through $16 trillion. With much more dollar devaluation on the way as well as gridlock in Washington, gold and silver prices look set to increase even more. At this stage, the sky truly is the limit. My recommendation is to buy gold and buy silver today! |
