Bernanke Can’t Fool Everyone All The Time

Posted: Oct 15 2010     By: Jim Sinclair      Post Edited: October 15, 2010 at 8:37 pm
Filed under: General Editorial

Dear CIGAs,
The Federal Reserve heard so much criticism of their QE that politically it was better to low profile it today.
We were told of the many secret new ways the Fed has to drain liquidity, but none were offered as an example. This drain talk is as much prattle as it was when it took center stage six months ago.
The Fed does not have a choice. It is economic death immediately, or give the OTC derivative disaster can another kick down the road to perdition.
The disgraced top callers of the gold price, who once again are calling for a top in gold after having been proven wrong time and time again, are equally wrong today as they have been since 2002.
Today Bernanke even defined MOPE as he defined the functional use of communication.
Bernanke’s speech today was pure MOPE. Do not be confused by semantic nonsense. Gold will trade at $1650 and above.
The following article makes its point in the final comment.

Fed Wants to Hoodwink Public, Only Fools Itself By Caroline Baum – Oct 14, 2010 6:00 PM MT (Excerpts from article)
"These Fed folks and their academic acolytes need to step away from their models and get out in the real world. (For an alternative view of inflation expectations, see my March 2007 survey.)
Maybe the Fed can fool some of the people some of the time, but it can’t fool all of the people all of the time. In the process, policy makers may end up fooling themselves that they can create expectations of a little more inflation without delivering a lot of the real thing."
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Jim Sinclair: The top callers in gold have been wrong for eight years

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Bank Closing Information – October 15, 2010 These links contain useful information for the customers and vendors of these closed banks.
Premier Bank, Jefferson City, MO
WestBridge Bank and Trust Company, Chesterfield, MO
Security Savings Bank, F.S.B., Olathe, KS

http://www.fdic.gov/



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www.ShadowStats.com



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