That didn't take long. Just weeks ago, the Bank of England announced that
they would be standing by and not moving their interest rates. They stated
that they were going to wait until official data indicated that the recent
successful BREXIT vote would indeed hurt the economy, choosing to avoid
irrational moves and wait until the facts presented themselves.
Well, it appears that this thought process has changed, likely due to
extreme pressure from other Central Banksters around the world. Already, the
Central Bank of England has reversed this decision. Not only have they
lowered interest rates, they have also doubled down and announced new
additional QE on top of it.
Joining other Western countries in their trek towards zero, the Bank of
England has lowered rates to a measly .25%. This is a pathetically low rate
and one that doesn't reflect the true inflation that the world is
experiencing.
This news initially hammered the price of gold and silver lower,
yet was almost immediately offset by the announcement that England would be
joining the likes of Japan and increasing their QE programs.
The market rejoiced at this news, as easy, free flowing money is the
lifeblood of our now highly corrupt and manipulated markets. The steady
supply of drugs is going to keep flowing and the world once again can put off
the inevitable crash that comes after the high.
This QE announcement is no small potatoes either. It is to include the
repurchasing of Corporate bonds, up to $60 billion pounds worth of them. This
is a strategy that we have seen adopted by many Central Banksters around the
globe.
Although gold and silver are experiencing extreme volatility at the
current time of writing, we are confident that once this news settles, then
we are going to see a continuation of the move higher in both metals.
The long term trend is clear, even if Central planners were able to
restrain themselves for the short term. QE to infinity is here to stay, there
is no turning back, no looking back, The West is going to continue down this
path until the system blows apart and forces true, honest, real change.
Until then, keep stacking - it's one of the few things we can do to
protect ourselves.
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Nathan McDonald is a libertarian, entrepreneur and precious metals
enthusiast. He has always taken a keen interest in free markets and
economics since an early age, which naturally led him to become a true
believer in precious metals and all that they stand for.
Nathan served eight years in the Royal Canadian Navy as an
electronics technician, seeing the true state of the world, before starting
his first successful business. He has since gone on to create a number of
businesses, all of which are still in operation and growing.
In addition to this, Nathan runs a network of successful precious
metals blogs, and a growing newsletter that has attracted readers from all
around the world.
He is a regular and highlighted writer for the highly respected
Sprott Money Blog, which covers world events, geopolitics and of course
precious metals.
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The views and opinions expressed in this material are those of the author
as of the publication date, are subject to change and may not necessarily
reflect the opinions of Sprott Money Ltd. Sprott Money does not guarantee the
accuracy, completeness, timeliness and reliability of the information or any
results from its use.
