The Stunning Roadmap To $26,000 Gold

With many investors worried about the economic turmoil that has engulfed the globe, is gold headed to $26,000?

The Stunning Roadmap To $26,000 Gold
Stephen Leeb:  “
The Fed’s decision this past week to hold rates steady was no surprise. After all, going into the confab, the odds of a hike had been put at around 20 percent. And only two of the 23 market makers in government securities had any expectation rates would rise, and even those two said they weren’t really sure. Still, the markets exhaled, and a two-day rally in stocks, gold, and commodities followed, though it petered out by Friday…

But if the Fed’s decision to hold rates steady near zero wasn’t a big deal in itself, the nature of the vote was more significant. First, of the 10 commissioners including Fed chair Janet Yellen, there were three dissenters – an unusually high number. Most notable was Eric Rosengren of the Boston Fed. Rosengren previously was one of the most dovish members of the Fed, but he clearly had done a 180.

King World News - Propaganda And The Coming Shock WavesMore Fed Propaganda
In explaining his vote, Rosengren commented: “The economic progress since the last tightening in December might, by itself, be sufficient to justify a further increase in the rate target……However, it is in considering the implications of current policy for the sustainability of the expansion that the case for raising rates has now become even more compelling.” 

Wow. Whatever happened to Fed obfuscation. Here is someone who earned his stripes as a Fed researcher armed with a summa cum laude undergraduate degree, a Ph.D. in economics, and a career in both domestic and international research saying plain as day that the absenceof a rate hike risks a recession. (Note that Rosengren, shortly after assuming his current post at the Boston Fed, gave a presentation in January 2008 in which he said AAA ratings on housing debt did not preclude default risks or a housing collapse.)

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King World News

Interviews with market experts from around the world with a focus on precious metals.