Note: Graph on the left is the US dollar after hour Flash Crash!
Bloomberg had an interview this afternoon with Professor Black who is the author of The Best Way to Rob a Bank is to Own One.
He could not be silenced. Professor Black said, amongst other javelins in the heart of MOPE, the following:
1. Securitized mortgage instruments are all fraudulent.
2. The Fed is holding a huge amount of these as collateral.
3. They are valueless.
4. The manufacturers of these are, under commercial and criminal statute and law, criminals.
The interviewer almost swallowed her tongue.
Gold will trade at and above $1650. QE to infinity is not a choice, it is all that is left.
Jim Sinclair’s Commentary
This is what I spoke to you yesterday about. This is QE on the down low.
Keep in mind this is Federal Reserve Management of Perspective Economics which they called "communication."
The Fed has no choice but QE to infinity. Gold will go to and beyond $1650.
Silver Shipments From China, Biggest Exporter, May Plunge by 40% This Year