Gold Soars, Futures Plunge As Free Reign For Bernanke Appears Assured

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Ben Bernanke @ ZeroHedge:

S&P futures are now unchanged from Monday’s close – having lost 14 points from the close and over 18 from the highs. Meanwhile, gold is soaring and the USD is being sold. It would appear that as the odds of an Obama victory rises that the fiscal cliff reality becomes even more critical BUT given Bernanke’s four-more-years, they have no need to do anything about it since he will just monetize away… Gold realizes its the ‘stock’ and equities have already priced in the ‘flow’ but forgot to price in the fiscal cliff (as we have noted)… We assume Schumer will be on the phone first thing in the morning demanding moar doing his job…

S&P 500 are plunging… (moar Bernanke trumped by moar Fiscal Cliff reality!!)

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This is just the beginning, if Obama actually wins this one.

And if so, . . . Goodbye jobs, hello new wondrous fees and taxes, hello lower dollar. The Bernank is greasing the presses.

Hello Putin floating more submarines along the coast.

Hello Iran, goodbye Israel.

Those are some scary graphics.
Either we suffer a ”fiscal cliff,” of the Republicans self-immolate and go along with Obama on higher taxes and more ”stimulus” spending to Obama’s cronies.
On the bright side, I don’t have to fend of rioters tonight.

I meant, ”or,” not “of the Republicans…”

Seems like it is almost overly quiet today around here.
Sad to see more market sell off.
Down 300 right now, although at 13,000 that is not that big a drop.

Hyper-right-wing hysteria.