Bloomberg: Central bankers around the globe look to the economic theories of Michael Woodford for extraordinary methods to spur growth when interest rates are already near zero. Photograph: Ryan Pfluger/Bloomberg Markets
Jim Puplava is talking about "FED's Big Flip Flop" in his big picture this week. He is calling for Janet Yellen to be the next Chairperson of the FED. Her dovish monetary policy will be highly beneficial for our Gold Bull. Jim sees the transition from unemployment target to the GDP based target for the FED's monetary policy. Quite surprising in its honesty were two remarks from Bernanke: about unexpected tightening effect on the markets after FED's announcement about the tapering of QE - when interest rates have almost doubled from the spring low. And Ben's admission that unemployment rate does not provide the clear employment picture and is affected the employment participation rate.
Michael Woodford has become the new FED's play book after his monetary theories were widely adopted by the central banks around the world after Jackson Hole in August 2012. You can find his Bloomberg profile here.
Now we have more clues to understand why Eric Sprott is selling Art in order to buy more shares of Gold and Silver mining companies.