Zero Hedge: NY Fed buys building housing Plunge Protection Team
8:30a ET Wednesday, February 29, 2012
Dear Friend of GATA and Gold:
Zero Hedge's pseudonymous Tyler Durden yesterday noted the purchase by the Federal Reserve Bank of New York of the Wall Street building from which the Fed conducts its surreptitious market interventions. The commentary is headlined "New York Fed Buys Building Housing Plunge Protection Team" and it's posted here:
It refers to Zero Hedge commentary from 2009 about "the world's most important trading desk," the Fed's own on the ninth floor of that building:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
A Rare Opportunity with Collectible Gold Coins
Whose Premiums Are Far Below Normal
Sovereign debt problems in the United States as well as Europe will worsen this year. The mainstream financial media may never report about the likely inflationary consequences of bailouts and "quantitative easing," nor are they likely ever to recommend tangible assets for financial protection. But at Swiss America Trading Corp. we believe that it is no longer a luxury to own gold and silver coins but rather a necessity.
At the moment the public is showing little interest in Double Eagle U.S. $20 gold coins, so the price premiums above the intrinsic melt values (.9675 ounce of gold in each coin) are historically low. The ratio of price to bullion content for these coins has been 2:1 but today it is only about 1.25:1.
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In the January edition of his Early Warning Report, Richard Maybury writes: "As they are inherently in very limited supply, I believe that high-quality numismatics will become tulips, eventually rising a thousand percent or more in real terms, when money velocity goes into mid-second stage. In late stage, who knows -- 2,000 percent? 3,000?"
All inquiries will receive without charge (while supplies last) our latest book, "The Inflation Deception," as well as our newsletter "Real Money Perspectives."
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-- Fred Goldstein, firstname.lastname@example.org
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