Maniacal Japanese MONEY PRINTING
Another day, and one step closer to the abyss. Maniacal Japanese MONEY PRINTING gone berserk is just ONE of today’s “horrible headlines”; as the BOJ now intends to mimic the Fed’s INSANE plan to gauge QE against employment. Not to mention, their INSANER plan to print yen and buy European ESM bonds. In Europe, Greece needs ANOTHER bailout; and in the U.S., a pathetic earnings season is about to commence; with the debt ceiling breached, the fiscal cliff surpassed, and a new Treasury Secretary – from CITIBANK!
Meanwhile, PHYSICAL PM demand is soaring worldwide; as at Miles Franklin, which has been ON FIRE since QE4 was announced December 12th. Gold has bottomed in January in seven of the past 12 years; and, on average in mid-late January over the ENTIRE 12-year bull market. Take a guess what is most likely to happen in the coming weeks and months.
Andrew C. ("Ranting Andy") Hoffman, CFA
Miles Franklin Ltd.