A sell-off in gold that began on April 12 has intensified, following a smattering of dismal financial news from several of the world’s largest economies.
Recent statements from senior government officials suggest that Russia may be headed for a period of recession.
According to The New York Times, large financial institutions may not be as forthcoming about their risky investments.
As for the results themselves, the impact on bank stocks isn’t terribly surprising. Most of the members of the FOMC, including Chairman Ben Bernanke, concluded that more support was needed to spur economic and employment growth.
According to various media reports, the Japanese central bank will be launching a massive monetary easing program that will effectively double the yen-denominated money supply within the next two years.
Most troubling is the revelation that, of those who participated, 0 percent of respondents said they plan on hiring.
Since the Federal Reserve began expanding its quantitative easing program in late 2012, lawmakers in several U.S. states introduced legislation that would recognize gold and silver bullion, or coins, as a form of legal tender.