Plosser Says QE3 Risks Fed Credibility, Won’t Boost Jobs

Federal Reserve Bank of Philadelphia President Charles Plosser said new bond buying announced by the Fed this month probably won’t boost growth or hiring and may jeopardize the central bank’s credibility.

“We are unlikely to see much benefit to growth or to employment from further asset purchases,” Plosser said in a speech today at the district bank in Philadelphia. “Conveying the idea that such action will have a substantive impact on labor markets and the speed of the recovery risks the Fed’s credibility.”

http://www.bloomberg.com/news/2012-09-25/plosser-says-qe3-risks-fed-credibility-won-t-boost-jobs.html

Jim Puplava: Oil Is The New Federal Funds Rate

Jim Puplava has made a decades-long career of interviewing hundreds of notable experts on the economy, energy, precious metals, geopolitics, agriculture and other sectors that impact our future.

The outlook he has developed as a result of all this input is less than sanguine. Jim concludes that economic growth will be constrained both by world governments' chronic addiction to spending more revenue than they take in, and by the systemically-rising costs of fossil fuel-driven energy.

In terms growth, he sees political leadership becoming less and less relevant in its ability to effect outcomes. In fact, he declares the price of oil as now being more influential in stimulating or depressing sovereign economies than central bank interest rates. In his words, ""oil is the new Federal Funds rate"".
http://www.youtube.com/watch?v=7sd3T4evSmQ

QE3 is coming - Jim Rickards

http://www.youtube.com/watch?v=FgngIN7CO1Q&feature=player_embedded#!

U.S. Economy, Gold and Currencies

James Rickards, senior managing director at Tangent Capital, talks about the U.S. economy, investment in gold and global currencies. Rickards speaks with Sara Eisen on Bloomberg Television's "Money Moves."
http://www.dailymotion.com/video/xnihkw_james-rickards-on-u-s-economy-gold-currencies_news?start=331