Yellen will not hike rates and QE is all but written into the books. Exports represent 13% of U.S. GDP and our exports are fast becoming prohibitively expensive to the rest of the world. Consequently the currency wars are in full bloom. The ECB is diluting it's currency with QE. Canada, the Danes, the Aussies and many others are cutting interest rates. And now we are supposed to take the U.S. Fed's verbalized day dreaming into account that they will actually raise rates this year?
Some argue the Fed needs to raise rates to save face in light of their promising to commence raising rates going back to Bernanke's era. Others point out that interest rates have not been raised in 8 years....a record! And finally, many mainstream pundits point out that 0% interest rates in today's supposedly much improved economic environment are simply not justified. Historically, these pundits are correct. But that will not matter.
If interest rates are raised by even a pathetic 1/4% with verbiage of further rate increases, the US dollar would surge well above 100 on worldwide currency index, U.S. exports would be decimated, and jobs would be lost. Not going to happen. The U.S. will join the fray and the currency war will gather momentum.
Eventually, gold and silver will rise dramatically against all paper currencies. And that is a fact. EXK is not making a profit with silver below $18. Hopefully, this company can endure until the arrival of higher silver prices.