Unprecedented Fed Reserve Press Conference

[Patch]

http://www.etoro.net/forex-news/commoditie...conference-trig

Bernake, in an unprecedented move held a press conference and announced that the FR would maintain it's present course including the buying of US debt offerings in the amount of 600B a month through June. That means another 1.2 T faux dollars will be funneled into our economy.

Commodities rose sharply including crude oil and the dollar dropped precipitously. Gasoline will take another large jump in price because of this action as likely will food and other energy prices. The govt excludes food and energy from the inflation computation but figuring those we now have double digit inflation. Some areas are in considerably worse condition than others.

Stansberry Research has had a video out which predicted precisely what is happening now. It is worth watching even a second time if you have already seen it.

Slàinte,    

Patch    

[MacEoghainn]

I didn't watch, but I understand that he really didn't answer any questions (as if most of the press has any idea of what to ask or what the answers would mean). For anything to be done Congress is going to have to force the Fed to allow an audit and then Bernake and his minions need to answer questions posed by people who know what to ask, if the answers are true, and what they mean in open hearings.

[Patch]

The only two things that he really confirmed were the two in the first paragraph of my initial post. The rest was political double speak.

The stock market gained on the news or lack thereof.

In The book, The Creature from Jekyll Island by G. Edward Griffin The author explains how the markets were manipulated prior to the "29" crash to allow the main players to get out intact. This was allegedly to provide for people and funds to bring the country out of the depression. Due to Roosevelt's tampering with the economy, much as is happening today, the money and the potential investors sat on the sidelines till our industry ramped up to manufacture goods for the lend lease program and our eventual entry into WW2.

One must wonder if the markets are not being manipulated for "some reason" today, though the circumstances that existed for recovery back then do not exist today.

I stopped over lunch to see if I could locate another copy of the book yesterday but they were sold out. The stores customer service dept told me they were not able to keep the book in stock. That in it's self is quite telling. Another shipment is due to come in tomorrow but I am not driving that far for a book. If you can find it in a library it is worth reading. It is available in paper back for $19 plus with $6 plus shipping if you order by mail. It is a large book with over 600, maybe 700 pages.

Slàinte,    

Patch