Watch video:Peter Schiff: Fed's Non-Taper Damage Control and Gold GLD, GDX, MUX, TNR.v
FED is in a desperate damage control mode and is losing its credibility and the control of the situation. Now we have another target for 'Taper" - October and Gold is selling again. FED could not taper this time as "financial conditions have tighten": even after the talk about tapering in may - interest rates have doubled from low this year. So how will they be able to taper in October? With Janet Yellen front-running now for the FED Chair we can expect even more lose monetary policy based on GDP target, which will be highly beneficial for Gold and Gold stocks.
Eric Sprott: "China Bought 60% of Gold Production Last Month, I Am Buying Gold And Silver Stocks Now." MUX, TNR.v
"Price of Gold and Silver will be the main driving forces for all survived companies. Eric has very bold prediction for Gold going to $2400 by next year: "The most important thing in the precious metals business - the price of precious metals. They all go up if the price of Gold will go up. The question is which one will go up 200% or 500%. If the Gold will go up to $2400, I can bet that the Gold miners index goes up 200%. What we are trying to do: where is the one which will go up 1000%."TNR Gold: McEwen Mining Announces Updated Preliminary Economic Assessment for the Los Azules Copper Project TNR.v, MUX
"Rob McEwen is on the road now promoting his company and moving fast forward. Ian Ball was nominated as the new President of the company and Craig Stanley joined the team as VP of Corporate Development from Stifel Nicolaus. Company is very well positioned now for the higher Gold and Silver prices and should Eric Sprott happen to be right again we have found how to run this new Gold Bull market. Janet Yellen's nomination to the FED Chair will help Gold miners as well, if Jim Puplava's tea leaves reading is right.
With Craig Stanley in charge we can expect M&A activity on behalf of McEwen Mining in the Gold and Silver sector and more active promoting of Los Azules Copper after PEA will put the new valuation on the project:"