what exactly did Bernanke say??

what exactly did Bernanke say?? I see silver is up almost $1 so far and I'm stuck at a place without tv access so what did I miss?

 

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He hasn't said anything yet. His dog and pony show doesn't begin until 2:15 Eastern.

 

nah he was doing the fed decision @12 and then the reporters thing at 2:30 est

 

There is a site for press releases:

Federal Reserve

 

Until the bearded wonder speaks at 2:15pm, here's a snippet from MSN:


======================================================

The Federal Reserve decided today to leave rates at record low levels and agreed to continue its program of buying Treasury securities until its scheduled finish in June.

The Fed did concede that inflation is rising, but it said that longer-term expectations are stable. Most analysts read that as the Fed saying it sees no wage inflation on the horizon.

Stocks, which were flat ahead of the announcement, moved modestly higher, but prices for gold, silver pushed higher after the announcement.

 

oH WOW. They admitted something about inflation?!?!?! I thought the Ben Bernank was fighting the deflation. A-Clown.



Silver's going to hover here for a while. No prediction from me on when it will rocket to the moon or face plant in the gutter.

 

Sounds like the possibility of QE3 is still alive and well

http://www.cnbc.com/id/42784181

 

It's quite clear this banking cartel has no idea what they are doing with our money and our country. Silver up almost $2

 

I came out of a long meeting to check metal prices. I almost spit my coffee out when I saw the gold prices. WOW!!! It went berserk!!!

 

Silver is up over $2 since noon.

 

Yep without the Treasury buying up the debt, the Fed will have to print even more worthless notes. Can you say Wiemar Republic ????

 

Looking at the four main precious metals, it seems they all started going up right after the press release. lol

 

I cheered myself fools_gold

 

The Treasury offers the notes, the Fed buys some of them. I think the Fed "printing press" will slow down a bit in June as they move more toward liquidating mortgage backed securities and swap into Treasuries. We'll see if that's enough to fill the 60-70% void left as QE2 ends in June.

Bluesboy65

 

Measured using a 1980 GOVERNMENT formula, the present rate of inflation is at 10.00%. That's huge, folks. Moreover, if you look at the Dow industrials using the businesses that Dow pegged itself to then, the Dow lost money. You would have a negative value, with most of the businesses kaput. Adjusted for inflation according to the 1980 level, Gold and Silver are LESS COSTLY using the adjusted rate of inflation. Meaning: the price of gold and silver will increase to catch up with the actual inflation rate, as calculated in 1980 values. If you believe ANYTHING the government revisionists say, shame on silly you. Buy gold and silver. That way you can be regarded as a national hero when they come to demand that you sell it back to them to rescue us from financial oblivion. At gunpoint if you hazard a no. In prison if you conceal it. Making your friends and relatives rich from the reward they get by turning you in. Are we not a great country?

 

No it doesn't.

The Fed buys them AFTER the Treasury has sold them to others.

The Fed buys from Goldman Sachs, after the auction, in the open market, not the US Treasury.

Personally, I made 6% in one week off some 30yr T Bills front running the Fed. Bought at auction, held for a week, sold. Nice little bump in the ole ROTH IRA.

 

Yes it does. Adding the middleman is a fine clarification of the transactions involved but it does not change the fact that treasuries end up on the Feds books. My original point was that the Treasury is not the buyer.

Bluesboy65