When I hear a central banker use the term "open-ended", it brings me back to my days in capital equipment (printing presses) and a knowledge of what the "E"-stop button was, more descriptively known as the emergency stop button. To give you a mental image, picture the emergency stop button of a currency printing press. Now picture a sledgehammer in the hands of Federal Reserve Chairman Ben Bernanke. Next, picture him swinging said sledgehammer and completely knocking that "E"-stop button off the side of the press into the aisle where it is so destroyed it can never be used again.
Now rest on that image for a while as you read yesterday's Bloomberg article here.
Now you know what the position of an "open-ended" easing means. When Fed heads put out feelers like this, well, where there is smoke, there is usually fire. What is the antidote to a runaway printing press? At Lear Capital, we have been providing real money (gold and silver) to our clients for over a decade and a half. Don't you think you should become a client today instead of staring at the "E"-stop button in the aisle? Call us at (800)576-9355 today!
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