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As discussed with the negative real reserve ratios the US banking system is
currently experiencing a Bank Run and withdrawals are being met with printing
the money out of thin air. The
Kondratieff Winter has started and the snow is already
falling.
From Yahoo:
”The Federal Reserve said Friday it will
provide $60 billion in fresh cash to commercial banks in two auctions in
February and will keep holding auctions every other week for as long as
needed to ease the credit crisis.
The new auctions, to be held on Feb. 11 and Feb. 25,
will mark the fifth and sixth times the Fed has used a new auction process
announced in December to provide cash-strapped banks with extra reserves.
In a brief statement, the Fed said that it intended
to keep holding the auctions every other week “for as long as necessary
to address elevated pressures in short-term funding markets.”
The PPT as usual with the bad news by bringing down
gold.
Trace Mayer
RuntoGold.com
Trace Mayer, J.D., holds a degree in Accounting from Brigham Young
University, a law degree from California Western School of Law and studies
the Austrian school of economics. He works as an entrepreneur, investor,
journalist and monetary scientist. He is a strong advocate of the freedom of
speech, a member of the Society of Professional Journalists and the San Diego
County Bar Association. He has appeared on ABC, NBC, BNN, many radio shows
and presented at many investment conferences throughout the world.
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