Celente talks about the factors driving inflation, the Middle East meltdown fueling oil prices, global conflicts, and the pending crash of the global economy and equity markets.
Positions as of 9 April, 2024
The bottom line is gold is extremely overbought today, warning of high risks for a sharp selloff. But even after rallying so far so fast, this powerful gold upleg still looks to have lots of room to run.
North Carolina has a prominent history of gold mining and sound money policies, with immense potential for a return to gold mining and being a sound money leader.
The Federal Reserve is supposed to make decisions on interest rates independent of politics. Biden’s remarks were criticized for infringing on the Fed’s independence.
The question isn’t, “Why is the CPI still hot?” The question is, “Why is anybody remotely surprised CPI is still hot given the amount of money created?” (i.e. inflation)
Getting off the idealist views and back to the technical view, gold’s weekly chart is purely bullish. The pattern of this chart targets $2450. This is a purely bullish breakout to blue sky.
Never underestimate the foolishness and denial that undergirds this stock market, causing investors to miss the obvious signs on each side of them.
So when I come to the gold market, number one, it's fighting off a rally in the dollar. Number two, it is fighting off, very successfully, a rally in interest rates.
