In the last few years gold and silver bottomed out around Christmas.
– Gold – It’s Time (ZeroHedge, Dec 12, 2012):
Authored by Lee Quaintance and Paul Brodsky of QBAMCO,
Gold bugs can’t understand how the public can be so unaware, how highly intelligent policy makers can be so immoral, and how the mainstream media can be so incurious. We can’t understand why more men and women in the investment business haven’t joined some of the more successful ones that have come around to precious metals and have taken substantial positions in them for their funds and personal accounts. The list of high profile independent-minded investors that have come out of the proverbial closet is impressive and growing: Kyle Bass, John Paulson, David Einhorn, George Soros, Bill Gross and Paul Singer, to name only a few.
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Tags: Bill Gross, David Einhorn, Economy, George Soros, Global News, Gold, John Paulson, Kyle Bass, Paul Singer
‘The Bernank’ is just a meaningless puppet.
– David Einhorn Explains How Ben Bernanke Is Destroying America (ZeroHedge, Oct 26, 2012):
David Einhorn knocks it out of the park with his very first statement during today’s Buttonwood Gathering, in a segment dedicated to one thing only: explaining how the Fed’s policies are not only not helping the economy, they are now actively destroying this country.
“Sometimes you have to look at what is the base assumption. because sometimes you have a groupthink around the base assumption and everybody agrees to the same thing and acts reflexively and doesn’t really challenge what is going on. I think we have reached that point with the monetary policy. The assumption is that if you want the economy to improve, if you want more jobs, if you want more consumption, what we need is ever-easing monetary policy. My point is that if one jelly donut is a fine thing to have, 35 jelly donuts is not a fine thing to have, and it gets to a point where it’s not a question of diminishing returns but it actually turns out to be a drag. I think we have passed the point where incremental easing of Federal policy actually acts as a headwind to the economy and is actually slowing down our recovery, and I am alarmed by the reflexive groupthink of the leaders which is if we want a stronger economy, we need lower rates, we need more QE and other such measures.”
And that, in a nutshell is it: everything else follows. Continue reading »
Tags: Bank of England, Ben Bernanke, Bonds, David Einhorn, Debt, Economy, Fed, Federal Reserve, GDP, Keynesianism, Paul Krugman, Quantitative Easing, U.S., Unemployment