Man Who Ran First QE Owns Gold & Warns Of Coming Inflation

"Today the man who ran the first QE program for the Fed told King World News that he owns gold and warned of coming inflation.  This was the former Fed member who also set up the Fed’s massive trading room, and who is the former Managing Director at Morgan Stanley, Andrew Huszar.  Below is what Huszard had to say in Part II of this remarkable series of interviews.

Eric King:  “When I interviewed David Stockman, who was put in place by (President) Reagan when the US was facing collapse in the early 1980s, he was referring to the Fed trading room and he said, ‘That trading room is a weapon of financial mass destruction.’  You’ve got these guys at the controls, and I think Stockman’s point is well taken that it is a potential weapon of financial mass destruction.  Is he wrong, or is there some truth to that?”

Huszar:  “...I don’t even think we have begun to see the costs of this experiment.  And I think (that with) the Fed trying to exit from the buying phase, we are just in the third inning of a game where we really don’t know what the result is going to be.  So I agree with you....

“This activism that we’ve seen over the last 15 or so years, over time we are going to look back and think this was a pretty bad idea.”

Eric King:  “Andrew, both of us have a position in gold.  I’m just curious why you have a position in gold.  Why the investment in gold?”

Huszar:  “I look at what the Fed has done basically since the beginning of the millennium, and I see a central bank that’s effectively been pumping cash into the market in different ways.  I think on some level that initially helped feed the run-up in gold..."

at  http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/2/21_Man_Who_Ran_First_QE_Owns_Gold_%26_Warns_Of_Coming_Inflation.html