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Qe3 not yet on the table

May 19, 2011

It appears the fed didn’t hint at qe3 and is going to let qe2 expire in June. I made the mistake last time of not taking these hints seriously when qe1 was announced. With no liquidity pump to prime the markets it is going to get rather rocky over the next few months. I personally am worried that golf and silver will remain unscathed as there has been so much money pushed into every asset by the fed and zirp. Be careful out there. Cash might e the safest place near term.

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