Certified Gold Exchange Exec Says Extreme Gold Market Volatility “Imminent” After Fed Member Resignation

Hank White, VP for the Texas-based precious metals dealer, says the gap left by outgoing Federal Reserve Board member Jeremy Stein could affect future Fed policy, reports “America’s Trusted Source for Gold”.

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CertifiedGoldExchange.com - America's Trusted Source for Gold

CertifiedGoldExchange.com America's Trusted Source for Gold

If President Obama selects someone who believes in raising interest rates it could crash the stock market and cause a run on banks, and in that scenario gold could break through any ceiling imaginable, as it did during the 1970s.

Fort Worth (PRWEB) April 03, 2014

A recent Kitco News article revealed that a member of the Federal Reserve sent a letter of resignation to President Obama this week after less than two years on the job, and Certified Gold Exchange vice-president Hank White believes the vacancy could create extreme volatility within precious metals markets. White said Thursday from his Fort Worth office that the vacancy left by Jeremy Stein, as well as the person who eventually fills the position, could wreak havoc on gold and silver prices or cause them to skyrocket.

“President Obama could fill this spot with someone who wants to keep interest rates low, which in theory would boost the economy by creating jobs because companies can borrow money for practically nothing,” White said. “That could cause the gold spot price to fall dramatically, at least until inflation because so obvious to everyone that gold would become the only logical solution. If President Obama selects someone who believes in raising interest rates it could crash the stock market and cause a run on banks, and in that scenario gold could break through any ceiling imaginable, as it did during the rising interest rate cycle of the 1970s and early [19]80s.”

The Federal Reserve has seen a slew of departures recently. President Obama has already nominated Stanley Fischer to take new chair Janet Yellen’s place as vice chairman. Lael Brainard is also up for nomination, as is Jerome Powell. Elizabeth Duke left the Federal Reserve Board in 2013 and Obama has yet to nominate someone to fill that position.

Certified Gold Exchange, Inc. is one of North America's premier precious metals trading platforms, providing unparalleled service to licensed dealers, institutions, and household investors since 1992. Certified Gold Exchange maintains an A+, Zero Complaint Better Business Bureau rating. For more information or a free "Gold Investor's Guide," visit http://www.certifiedgoldexchange.com or call 1-800-300-0715 today.


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