Paul’s Economic Outlook:
Bernanke helped the market, banks and commodities during July by waffling on cutting QE. This is market manipulation. They should start cutting back in the Sept 17th meeting and will probably announce something in the July 30th meeting.
Kitco Metals Roundup: Gold Sharply Up, At 4-Wk High, On Short Covering And Technical Buying
Bernanke went dovish for July. Dollar down, gold broke $1,300 resistance. China is buying gold, the world banks are printing money, we are in the middle of the summer oil spike and there is a Fed meeting next Tuesday and Thursday. Gold up. This is all temporary. This ends in the Sept 17th meeting.
Why the Fed should scale back QE now
Key economic indicators point to U.S. recovery and growth. Good indicators to watch for on changes in the economy.
Why are loan fund flows losing strength?
Bernanke said they were going to tighten. Banks raised rates and lowered standards. Then Bernanke went dovish. Banks kept rates the same but raised standards. Loan money will become available after Sept. 17th meeting.
Fed considers pulling banks' commodity permits: FT
Federal Reserve moving to rain in market manipulation by financial institutions that are too big to fail (Morgan Stanley, etc.).
Market Manipulation for July