Gold is moving up in Asian trading and even though we had a setback on Friday we still closed above the $1,100 resistance. Silver is also right at resistance and a bounce is still underway. Dollar is down 2 cents in Asian trading.
I am reaching out to former Dallas Fed President Richard Fisher for my book Illusions of Wealth and the main reason is what he revealed in the following video. https://www.youtube.com/watch?v=pnIYZiWlaUY
Zerohedge had an article on it explaining how CNBC cut some of what he said out. The bottom line is Ben Bernanke already admitted the Fed has created what is known as the “wealth effect” in the hopes that their quantitative easing would in turn push markets higher and this created wealth would trickle down into the economy. Fisher went on to say that he was against QE3 and the Fed was basically wrong for doing it.
I had written to Fisher a few years back as he was one of 9 members who voted against lower rates and I admire him for taking a stand on CNBC when pressed. I wouldn’t mind him at all writing a forward for my book, assuming he agrees with its message which I think he will.
Doug Eberhardt is a 28 year financial services veteran and precious metals broker selling gold and silver at 1% over wholesale cost. Doug has written a book to help investors understand how gold and silver fit into a diversified portfolio, how to buy gold and silver, and what metals to buy. The book; “Buy Gold and Silver Safely” is available by clicking here Contact phone number for Buy Gold and Silver Safely is 888-604-6534
Commodity Futures Trading Commission Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don’t trade with capital you can’t afford to lose. This is neither a solicitation nor an offer to Purchase/Sell futures or options. No representation is being made that any account will or is likely to achieve gains or losses similar to those discussed in this outlook. The past track record of any trading system or methodology is not necessarily indicative of future results.
All trades, patterns, charts, systems, etc. discussed in this outlook and the product materials are for illustrative purposes only and not to be construed as specific advisory recommendations. All ideas and material presented are entirely those of the author.