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Here is the link to our fourth quarter hard-copy (mailed to our readers who still refuse to use a computer).  Andy Hoffman, Bill Holter and I all have articles in this latest edition of our Quarterly Report.

Here is what the MSM had to say about yesterday’s drop in gold.

PRECIOUS-Gold drops, Fed move raises concern on stimulus scope – Reuters.com

SINGAPORE, Dec 13 (Reuters) – Gold dropped about 1 percent on Thursday after the Federal Reserve linked its monetary policy to unemployment, raising concerns that future economic stimulus could be limited.

Gold benefits from easy monetary policy as it drives investors who fear diminishing value in fiat currencies to seek safety in hard assets such as bullion. Gold has risen nearly 9 percent so far this year.

The Fed said it plans to buy $45 billion in longer-term Treasuries each month on top of the $40 billion monthly purchase of mortgage-backed securities, as expected, but set unemployment and inflation thresholds for exit strategy.

“This announcement is a bit confusing to gold investors as it linked policy to unemployment, etc.,” said a Tokyo-based trader. “Perhaps the market wanted unlimited QE.”

Continue reading on Reuters.com

For a more accurate analysis, check out the comments from LeMetropole Café.

Looks like the short-term oriented funds “sold the news.”  What idiots!  Here, the Fed does the most gold-friendly thing possible and the market sells off.  Check the gold price a month from now and you will see the complete folly in this.

$84 billion/month in new purchases, all with newly created money equals over one trillion in the next 12 months.  This is insanity and it is even more insane that anyone would dump gold after the announcement.  Gold won’t remain below $1,700 for long.  Also, I read that the Indians have ramped up their gold purchases thanks to the low prices – and they are still in the midst of their wedding season.  They must be thanking the fools who sold down gold yesterday.


Post Federal Reserve QE4 Analysis with Andy Hoffman “Inflate or Die”

In order to understand exactly what happened yesterday, take the time to listen to this great interview the SGTReport.com just released with Andy Hoffman.

The FED is literally buying 85 billion in bonds per month! Do the math on this one, the FED is printing $1 trillion in order to keep rates artificially low, distort the bond market, and attempt to spark price inflation.

Andy is also an expert on precious metals manipulation, so expect him to walk you through exactly what is going on in the precious metals market.  Here is his interview with Sean of the SGT Report recorded literally minutes after the Fed announced “QE4.”

12.12.12 – The Day Our Currency Died: Andy Hoffman – PT1

12.12.12 – The Day Our Currency Died: Andy Hoffman – PT2
Check out the graph of gold today vs. one year ago.  Gold is now UP $66.40 after being behind for a while.  One year ago, gold started a very steep plunge and I don’t expect a repeat this year – which is why I expect gold to finish the year at least $150-$175 an ounce higher than the close in 2011.