Bernanke Sets Gold and Other Commodities on Fire

Commodities / Commodities Trading
Nov 08, 2010 - 07:48 AM

By: Larry_Edelson

Ben Bernanke has unleashed the most powerful forces on the planet.

More powerful than any government. More powerful than any other central bank. More powerful than even the President of the United States.

He has ramped up the printing presses and will now print at least $600 billion of new money — and reinvest the interest the Fed is already receiving on money it printed previously (used to buy bonds) — to buy even more bonds (and print even more money).

All told, the Fed will be printing as much as $100 billion of new fiat money, per month. And that’s just for QEII!

Why do I say just for QEII? Because I have no doubt in my mind whatsoever that in the not too distant future — the Fed will find that it must print even more money, and up the ante yet again.

Make no mistake about this: As I told you from the get-go of this great financial crisis, Bernanke’s ultimate agenda is to massively devalue the U.S. dollar to inflate away debts … push up asset prices … and spark a major round of inflation.

Bernanke’s ultimate agenda is to massively devalue the U.S. dollar to inflate away debts.

Bernanke, more than any other central banker, is deathly afraid of a deflationary spiral. He will do anything he deems necessary to avoid it. He has virtually unlimited powers at his disposal.

Already, the markets are on fire!

As I write this issue …

Gold has hit a fresh new record high at $1,393, including a nearly $60 move up in the 24 hours after Bernanke’s announcement.

Silver has exploded to over $26 an ounce, with a single day rally of almost $2, or nearly 6% — I repeat, in a single day!

Copper is also soaring, now trading at nearly $4 a pound and up more than 8% just since the first of this month.

Platinum, soaring more than $100 an ounce on November 4, to near $1,800! Palladium is also on fire, now fetching $678.97.

It’s not just metal prices that are exploding higher on Bernanke’s deliberate attempt to create inflation … to devalue the dollar … to inflate away the massive mountain of bad debts in this country.

Oil is now trading at nearly $87 a barrel, up almost $7 — more than 8% — in just over a week.

Coffee was up an amazing 6.7% in a single day!

Wheat is flying, now at more than $7.20 a bushel — up 5.8% on Bernanke’s announcement.

Soybeans, at $12.83 a bushel, up 5% since the announcement.

Sugar at 31.74 cents per pound, up 5.7% in a single day!

Your average gold mining share — up more than 5% the day after Bernanke’s announcement — is now up more than 83% since the first of this year!

Emerging markets are also on fire, throughout Asia and even Latin America. Why?

The answers simple: As the dollar gets devalued, savvy capital is seeking out the high economic growth of emerging market economies, which have hardly skipped a beat throughout this entire financial crisis.

Am I excited? You bet I am! This is ALL precisely what I have been predicting from the start of the crisis … and it is unfolding exactly as I said it would.

But more importantly, for those of you who have been following my recommendations here and in Real Wealth Report — you’re making money hand over fist!

All this is why I say “Thank you Ben Bernanke!â€