Tonight the Federal Reserve Chairman Ben Bernanke will address a conference sponsored by the Federal Reserve Bank of Atlanta about the Wall Street recovery. He is expected to outline, in detail, his plans for QE2 along with thoughts on inflation & the outlook for interest rates. No matter what he says, tomorrow the markets will react accordingly.
Our thoughts, Bernanke will continue in the same direction as previously established; down playing inflation and pushing forward the latest round of treasury purchases. In other words, print more money and ignore the inflationary effects on the regular Joe on the street. So long as he continues in this direction gold & silver will continue their current bull runs.
Every major central bank in the last 2 months has indicated or actually raised rates on borrowing. They realize, unlike Bernanke, inflation is coming and it must be kept in check with a modest raise of the interest rates. Unless, The Fed gets on-board with the rest of the world, the US economy may see a double dip recession that it can ill afford. Listen closely, because your fiscal future hangs in the balance of tonight’s address.
For those following the Mind Your Money blog, you are keenly aware that we recommend a Tangible Asset Portfolio (TAP) as insurance against the faulty policies of Bernanke & The Fed. The choice is yours, allow the speeches & policies of one entity dictate your finances, or take the future into your own hands with physical possession of rare coins & precious metals in your personal TAP.