Tomorrow Results of the FOMC Meeting / Greek Buyback Falls Short / Fiscal Cliff Talks Stall Again
Tuesday, December 11, 2012 21:12
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by Harvey Organ
Harvey Organ’s Daily Gold & Silver Report
Good evening Ladies and Gentlemen:
Gold closed down $4.80 to $1708.20. Silver lost 36 cents to $32.94.
In the access market:
gold: $1710.10
silver: $32.97
Today we had a minor raid orchestrated by our bankers with minimal damage. I strongly believe that they are very worried that Bernanke will announce QE4 with unsterilized purchases of mortgaged back securities totaling 85 billion per month. If this continues for 3 years, then the Fed will have purchased equivalent to 25-28% of assets or in plain English, 25 to 28% of it’s GDP. This would be impossible to unwind.
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