International investor Jim Rogers expects a third round of quantitative easing by the third quarter of this year.
"It's the wrong thing to do but that's all they [US policymakers] know to do. They are not very smart people so you better own commodities," says Rogers.
"They will see things not getting better and will do what they do." [more]
Typically I wouldn't bother posting a video of Peter's radio show, but this is just too good to not recommend:
I have been forecasting with near certainty that QE2 would not be the end of the Fed's money-printing program. My suspicions were confirmed in both the Fed minutes on Tuesday and Fed Chairman Ben Bernanke's semi-annual testimony to Congress yesterday. The former laid out the conditions upon which a new round of inflation would be launched, and the latter re-emphasized – in case anyone still doubted – that Mr. Bernanke has no regard for the principles of a sound currency. [more]
Yes, believe it or not, I'm posting a blog that has nothing to do with Peter Schiff, Peter Grandich, the Fed, Ron Paul, or precious metals. [more]
As attention focuses intently on the negotiations to raise the debt ceiling, House Republicans have made a great show of drawing a line in the fiscal sand. They claim that they will not vote for any deal that includes tax increases to narrow the budget deficit. But we all know how the game works in Washington. With the 2012 elections looming the Republican bluster is merely a bargaining chip that they will quickly toss into the pot when they sense a political victory. In fact there are signs that such a compromise is already underway. [more]