Quotes of interest

Anyone who has asked me about QE - whether it be QE2 or the likelihood of QE3 - my stock answer is I never noticed QE1 stop.  Two and a half years ago, my expectation was the US money supply would be required to grow almost vertically.  Today, that view seems exactly right.

-Rob Kirby

Unless the Fed is actively engaging in monetization at every given moment, the impact from easing diminishes progressively, ultimately approaching zero and subsequently becoming negative.

-Zero Hedge

The whole point of the European bailout fund (ESM/EFSF) is to BUY BONDS.  Basically Merkel just confirmed that the whole point of the ESM, which by the way still does not exist, and whose sole purpose is to buy bonds... is to buy bonds. You can't make this up.

-Zero Hedge

Ironic, isn't it, that the United States, the home of the indispensable people, stands before us as the likely candidate whose government will be responsible for the collapse of the West.

-Paul Craig Roberts

In my opinion, today's Fed inaction guarantees a systemic Western world financial crisis this year that will make Société Générale's ($1,900-$8,500 gold forecast) 100 percent correct.

-Jim Sinclair

To savvy investors, gold looks good when everything else looks bad.

-David Schectman