Swiss National Bank Shocks Markets

Dear readers,

I view this event as if the Swiss voted FOR the referendum on gold last year. The global currency war is alive and well. Central bankers know that western currencies are in trouble and they are seeking out a more stable "store of value" for their money. As we all know, the most stable "store of value" throughout all history is GOLD, so I'm sure this event will kick-off the NEW BULL MARKET in GOLD!
Hmmmmmm... I wonder what would happen if China removes its peg to the USD?   BK

To celebrate the NEW GOLD BULL we are having a SPECIAL on 1oz Gold Bars.

$24.95 over spot
While quantities last.

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(Reuters) - Switzerland's franc soared by almost 30 percent in value against the euro on Thursday after the Swiss National Bank abandoned its three-year old cap at 1.20 francs per euro.

In a chaotic few minutes on markets after the SNB's announcement, the franc broke past parity against the euro to trade at 0.8052 francs per euro before trimming those gains to stand at 1.0350 francs.

It also gained 25 percent against the dollar to trade at 0.8900 francs per dollar.

The SNB has been resisting heavy pressure in recent months on the cap it imposed in September 2011 on the stellar rise seen in the franc's value due to investors seeking a haven from the euro zone's economic and political troubles.   Read more...

SNB Press release...

QE Cover-Up

So, the FED says it's going to reduce stimulus and start to Taper? I guess the economy must doing great!? Maybe I should step over the river to Detroit and see how good things are? 
As I've said many times on Gold Radio Cafe in the past, the diabolical leaders at the FED will come up with some creative way to disguise QE and say they will TAPER. 
Well here you have it folks, YOUR IRA account will become the "NEW and IMPROVED" QE stimulus. That's right! YOU the taxpayer will soon be funding the FED QE program. Congratulations!  BK 

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Asian shares fell heavily and European stocks also retreated, extending a global rout driven by worries about emerging markets.

Concerns were stoked when the US central bank further reduced its quantitative easing (QE) stimulus overnight.  LINK...

Among the president's other executive initiatives is a plan to help workers whose employers don't offer retirement savings plans. The program would allow first-time savers to start building up savings in Treasury bonds that eventually could be converted into traditional IRAs. Obama is expected to promote the "starter" accounts during a trip to Pittsburgh on Wednesday.   LINK...

Gold and Silver Financial Review 12/30 by Gold Radio Cafe | Finance Podcasts

Is "Taper" a set-up for "Bail-In?" 

The circus of words continues... Seems like there is no end to HOT words they can come up with to confuse people about the economy. The fact is the system is broken and the USA is still the largest debtor nation in the history of the world. So if they stop the QE and start to Taper, where is the grease for the wheels of the economy going to come from??? YOUR savings, via Bail-In! 
NO one else sees this folks and remember you heard it first on Gold Radio Cafe.   BK

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Heraeus Market Commentary

Good Morning,

Chairman Bernanke might be calling for a few more coffee breaks, to kill some time before his 2 PM statement, as this morning’s economic data give little reason to debate the current direction of monetary policy. ADP private sector jobs data showed just 130,000 jobs added this month. That’s the lowest level of job add-ons since the beginning of Q2 2013. The more heavily relied upon data, the government jobs data, has been delayed until November 8th because of the government hiatus. On the inflation front, The U.S. Labor Department reported that the Consumer Price Index rose just .2% in in September with 12 month CPI up just 1.2%. Along with a 6.5% unemployment rate, a 2% inflation target was given as the criteria for any pull-back in QE. The precious complex is pushing higher ahead of the conclusion of the FOMC meeting. Gold closed the previous session at $1345.50 and now trades nearly 1% higher at $1356. The yellow metal found some resistance near the $1360 mark, having reached as high as $1359.90. Silver is up nearly 2.5% having closed the previous session at $22.492 and now trades near the higher end of the day’s range at $23.035. Platinum has moved more than 1% higher as well, now trading at $1478 after closing the previous session at $1461.90. The white metal continues to find support from potential strike action from the AMCU. Have a great day!

Tom Hungerford

Heraeus Metals New York LLC

China Slows Down on Buying US Debt

Gold and Silver Financial Review 10/18 by Gold Radio Cafe | Finance Podcasts

Recorded LIVE Today at 12:00pm EST
With co-host Jeff Dunphy

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FOMC Meeting

Ben Bernanke stays the course, and stimulus to continue. Tapering is not required yet. Gold and silver rally and I think the bottom is formed and we'll see higher prices in the months ahead.  BK

FOMC Shocker...

MORGAN STANLEY: The Gold Bull Market Isn't Over...

In fact, according to the bank's Chief Metals Economist, Peter Richardson, "The reasons for owning gold may be evolving."

Read more: http://www.businessinsider.com/the-gold-bull-market-isnt-over-2013-3#ixzz2MlSktBsE

Gold and Silver Financial Review 01/04 by Gold Radio Cafe | Blog Talk Radio

Recorded Live Today at 12:00pm EDT

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FED to Add More Stimulus in 2013

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The days are numbered for the USD as the world's reserve currency.   BK