Negative interest rates from short to long will support metals, Michael Pento says
September 30, 2011 by goldguru · Leave a Comment
GATA
11:07p ET Thursday, September 29, 2011
Dear Friend of GATA and Gold (and Silver):
Interviewed by King World News, fund manager Michael Pento argues that gold and silver will not fall much from here because the Federal Reserve has set about making real interest rates negative along the entire time horizon.
Certainly such circumstances will tend to support precious metals prices, but as long as precious metals buyers accept mere certificates in place of their metal or take cash settlement of futures contracts, the gold and silver price suppression schemes can continue indefinitely because imaginary supply can be created indefinitely.
An excerpt from Pento’s interview is posted at the King World News blog here:
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/9/29_Mi…
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Help keep GATA going
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
http://www.gata.org
To contribute to GATA, please visit:
http://www.gata.org/node/16