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John Hathaway continues:


(That last move) would force more of that slack money into the economic system.  So generally a green light for more easing, which was well received by the bullion market.  We still have to go through the meeting next week.  We have to see what the FOMC actually decides to do, but it certainly did raise the expectation that there would be another cycle of easing.


The other thing which I forgot to mention in the first comment, is the Fed is thinking about raising the inflation target....


Continue reading the John Hathaway interview below...




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“But it’s basically pedal to the metal as far as monetary easing and currency debasement. 


We (also) have Mario Draghi saying that he will do anything to save the euro.  You are getting a concerted cycle of monetary easing on both sides of the Atlantic.  That’s certainly positive for bullion, and ultimately for mining stocks.”


When asked if central planners are preparing people for more printing, Hathaway responded, “Yes, they definitely are.  There was a pretty good article in the FT the other day where the writer said the worst thing would be for the Fed to go half way, and do these things in a luke warm way, because there is nothing worse than having an activist Fed which is ineffectual.  That would just destroy confidence.


The implication here is that if they are going to do something it has to be on a very big scale.  The economic numbers have been very lackluster, so there is not much to cheer about.  I suppose the Fed is starting to feel some real pressure to act on their dual mandate, (one of) which is to get the economy going.


My view is that the gold market has been receiving this fairly cautiously because they (players in the market) have been burned so many times.  I know it’s great to see gold up $30 or $40 in the last couple of days, but once the Fed casts the die and it’s clear which way they are going, I think we should see triple digit ($100+ up-move) kinds of days.”


Because of the action in the markets, the audio will be released today.  This timely interview is Hathaway discussing gold at length, as well as silver, Europe, the mining shares and much more.  The King World News interview with John Hathaway is available now and you can listen to it by CLICKING HERE.


© 2012 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.  However, linking directly to the blog page is permitted and encouraged.


The interviews with legendary Art Cashin ($612 billion UBS), Gerald Celente, Don Coxe ($538 billion BMO) and Eric Sprott are available now.  Also, be sure to listen to this week’s line-up of other KWN interviews which include MEP Nigel Farage, Peter Schiff, John Embry and Egon von Greyerz by CLICKING HERE.


Eric King

KingWorldNews.com

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