Wednesday, September 12, 2012
QE3 To Be Announced Tomorrow?
Stay tuned for a turbulent day tomorrow! All eyes are on the FED, in particular helicopter Ben. Why? Because tomorrow there is extreme pressure for the FED to announce QE3. If this happens gold and silver will likely rocket higher and make their journey to new highs by the beginning of next year.
But not everyone seems to think that the FED will announce a new quantitative easing program tomorrow. The experts are split down the isle. One notable expert that is staking a 99% chance that the FED will announce QE3 tomorrow is Michael Pento. He has even gone as far as to say that he will stake his reputation on it. This was said during a recent King World News interview.
Regardless of the outcome the market is going to get choppy tomorrow. If Bernanke announces QE3 tomorrow expect a huge spike in commodities. If he doesn't expect a sharp pull back.
Either way the long term picture remains gold and silver positive. If not tomorrow than in the near future the FED will be forced to announce additional money printing. The trend is your friend.