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Fed Unofficially Announced QE4 Today~ KWN Exclusive
October 2, 2012
Today Michael Pento stunned King World when he said, “… the Fed doubled down on QE3 this morning and unofficially announced QE4.” Pento believes the mainstream media does not understand what just happened today, but he said it will have massive implications for the markets, including gold and silver.
Pento has been incredibly accurate regarding his predictions of central bank moves. Pento noted, “… he (Charles Evans) did not indicate that these new and additional purchases, which will start in January, would be sterilized.”
Here is what Pento had to say: “The mainstream media has it all wrong once again. I noticed that gold and energy, commodities in general, turned around right after Charles Evans, who is the Chicago Fed President, spoke (earlier today). The media pretty much ignored it.”
Michael Pento continues:
“They (mainstream media) are crediting this huge rally that we’ve seen today in energy, commodities, and even in the nominal averages, because of a strong ISM Manufacturing Index that came out. It has nothing to do with the fundamental weakness or strength in the global economy.
It has everything to do with the fact that the Fed doubled down on QE3 this morning and unofficially announced QE4….
“(They did this) even when the echoes of QE3 are still reverberating around the room from Bernanke’s mouth.
Let me go into details (for your readers). Chicago Fed President Charles Evans is Bernanke’s right hand man, and the ‘Chief Architect’ of QE3. This was QE3’s plan, to buy $40 billion of mortgage-backed securities every month, until the unemployment rate magically declines.
