Whatever It Takes
The world’s markets are alight with excitement regarding the brain-dead repetition of ECB head Mario Draghi stating he’ll do “whatever it takes” to save the Euro. In other words, what he’s said – and DONE – all along, PRINT MONEY, MANIPULATE MARKETS, and disseminate PROPAGANDA.
Thus, stocks and Precious Metals are higher, at least for now. The “half-life” of such interventions has fallen from years (following the 2008-09 Meltdown) to just days (following last month’s “European Bailout” announcement). The same economic disaster awaits no matter how much they print, and either way, only PRECIOUS METALS will benefit – in real terms.
Andrew C. ("Ranting Andy") Hoffman, CFA
Miles Franklin Ltd.