The Fed is also choosing to ignore the fact that inflation is already running north of 3 percent. Instead, they have conveniently come up with their own measure of inflation, which comes in just a shade below the Fed's arbitrary 2 percent "acceptable" target.
This announcement is a slap in the face to anyone who earns, saves, and invests in dollars. So, it's no surprise to me that investors, financial institutions, and foreign governments are turning to gold and silver in larger and larger numbers. - in Euro Pacific Precious Metals
Related ETFs, IShares Silver ETF (SLV), SPDR Gold Trust ETF (GLD)
Peter Schiff`s comments on the economy, stock markets, politics and gold. Schiff is the renowned writer of the bestseller Crash Proof: How to Profit from the Coming Economic Collapse.