Thursday, November 3, 2011

Low Interest Rates Benefit Savers Too

Here is an article I picked up from "The Golden Truth". In it, Dave in Denver discusses a statement made today by Ben Bernanke. Yes, the very same Chairman of the Federal Reserve of the US.

I'll leave Dave to explain why the phrase, "Low Interest Rates Benefit Savers Too" is completely non-sensical and amazing to hear coming from such an intellectual as Ben.

"Has Bernanke Lost His MInd?

I just saw this headline come across the tape:   "Low interest rates benefit savers too:  Bernanke."  He goes on to explain that low interest rates are stimulating economic growth and savers won't get decent returns on their savings until the economy strengthens.  Here's the LINK  The dude lost me on that one.  In fact, that has to be one of the most insanely idiotic statements I have ever heard - and everyone who heard and believed it is dumber for having done so." Link

Also, adding to yesterdays post, Greece has agreed to go ahead with a referendum on the bailout offered to them. But this won't occur until January 2012. It looks as though neither the markets or the Germans and French are willing to wait that long. What will be said during the meeting between Sarkozy, Merkel and Papandreou today will likely determine the fate of Greece's European membership and even the euro itself. Also, threats are coming Greece's way from other entities such as the IMF.

Make no mistake, this is the most serious threat to the world financial system since the Lehman's collapse in 2008. Italy will be exposed and the cards will begin to fall. Be prepared.

Gold in New Zealand dollars: $2197.55 per oz
Previous all time high: $2284.16 per oz (19 Aug, 2011)

Silver in New Zealand dollars: $43.35 per oz
Previous all time high: $59.19
per oz (30 Apr, 2011)

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