Mike Kosares: Fed's new vice chairman, Stanley Fischer, speaks out

9:33p ET Saturday, August 16, 2014:

Dear Friend of GATA and Gold:

Mike Kosares of Centennial Precious Metals in Denver tonight calls attention to the first speech of the new vice chairman of the Federal Reserve, Stanley Fischer, who said the first objective of central banks at the moment must be to try to restore economic growth. This, Kosares writes, argues against expecting an increase in interest rates any time soon, since raising rates always causes a recession. He adds that low interest rates correlate with a rising gold price, though, of course, lately they also have correlated with gold price suppression by central banks. Kosares' commentary is headlined "Stanley Fischer Speaks Out" and it's posted at Centennial's Internet site, USAGold, here:

http://www.usagold.com/cpmforum/2014/08/16/stanley-fischer-speaks-out/

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.