Fighting Headwinds

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This morning, PMs have been fighting the  (coerced) headwinds created by the “debate” of whether an official, overt “QE3” program will be launched by the Fed, and WHEN.  Why anyone would believe Bernanke would introduce – or even hint at – such a plan at Congressional hearings is beyond me, as such an occurrence has NEVER occurred in U.S. history.  The Fed will continue with overt POMO and “Operation Twist” operations until month’s end, as well as covert MONEY PRINTING indefinitely.  At the June 20^th FOMC meeting, they will be forced to discuss the matter of new QE (or Operation Twist, etc.), and if they do not calm markets with their MONEY PRINTING intentions, things could get ugly quickly – or beforehand, for that matter, if the June 17^th Greek elections result in the same anti-bailout coalition that currently has control.  Gold and silver had big SAFE HAVEN gains last week, which WILL NOT be forgotten as soon as TPTB would like.

Andrew C. ("Ranting Andy") Hoffman, CFA

Marketing Director

Miles Franklin Ltd.

ahoffman@milesfranklin.com [6]

www.milesfranklin.com [7]

@SilverSeekWire [8]