“The Fed Chairman has been talking about tightening for some time. In 2010, he said, ‘As the expansion matures, the Federal Reserve will need to begin to tighten monetary conditions to prevent the development of inflationary pressures.’  Back then, the same mainstream analysts were predicting recovery and a reversal of quantitative easing (QE). Instead, we have subsequently seen QE2, Operation Twist, and now QE3 to eternity.  While these mainstream commentators are at best guessing as to why or when the Fed might reverse course, I understand that it is extremely unlikely to do so for the foreseeable future. In fact, I’ve bet my net worth on it.”

http://www.europacmetals.com/commentaries/newsid416/358/the-feds-tightening-pipe-dream.aspx

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