FOMC Statement, Fractional Reserve Banking & Fiat Currencies
The FOMC statement was as expected lighter on substance. With regard to asset purchases (putting more liquidity in the market), the statement reiterates that these will continue until there are signs of substantial improvement in labour markets. The statement read “growth in economic activity has paused in recent months”.
U.S. Jobs report was released this morning: January non-farm payrolls up 157,000 January 2013 unemployment rate at 7.9%, this is positive for the precious metals market, at time of writing; silver jumped $0.55 and gold rose $18.00.
In light of this, please watch this video we created regarding Fractional reserve banking and fiat currencies.
I know many of you have blogs, if you would like to use this video please reply and we will send you the embed code.
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