Wednesday, January 23, 2013

The Bank of Japan and Silver

Here's a great post from Dan Norcini describing the results of the latest announcement from the BOJ that they will undertake 'unlimited money printing' in order to get 2% inflation. Also and update on the silver market.

"The big news today is the long-awaited but pretty much expected response by the Bank of Japan to engage in further stimulus measures by basically committing to open-ended purchases of government securities and setting an inflation target of 2%.

The idea is to stave off the deflationary funk that has gripped Japan for well over a decade and more with the deliberate intent to further suppress the value of the Yen on the foreign exchange markets."
...more here

Gold in New Zealand dollars: $2012.01 per oz
Previous all-time high: $2311.02 per oz (15 Nov, 2011)

Silver in New Zealand dollars: $38.31 per oz
Previous all-time high: $59.19 per oz (30 Apr, 2011)
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