“Mann International”– Japan Wins Race To Zero …

FOR IMMEDIATE RELEASE
new york city, New York, United States of America (Free-Press-Release.com) October 13, 2010 -- “Mann International” traders believe that the US Federal Reserve may not bother to cut the Fed Funds rate to 0% from the current range of 0 – 0.25% despite the Bank of Japan’s latest move to stimulate its economy.

They do believe, however, that a further round of quantitative easing is merely weeks away given that the Bank of Japan also announced that it is to begin purchasing up to 2 trillion yen ($60bn) of assets in a desperate bid to weaken its currency to help its export sector remain competitive.

“This very aggressive move by the Bank of Japan can only embolden the Federal Reserve’s plans for QE2”, said one of the “Mann International” traders. “The US is growing increasingly frustrated with China over what it sees as a deliberate and ongoing effort to hold down the value of the yuan to keep Chinese exports cheaper than America’s and, although both sides officially condemn protectionism and proclaim their commitment to averting a trade war, unofficially, both continue to pursue policies that suggest otherwise”, he concluded.

“Mann International” analysts say that the trend serves to reinforce the case for acquiring gold and silver as hedges against debasement of currencies despite the apparent absence of inflation in most Western economies. The price of both set new records after the BoJ’s announcement with gold & silver prices touching $1341.00 and $22.75 per ounce respectively.

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