Big increases in US Treasury auctions keep funding the deficit. I keep writing about the Big Bond Bust because the US bond market is the heart of the entire global economy.
Gold rallying back to $2000 so quickly is a positive sign for an eventual breakout. The miners, juniors, and silver need gold to surpass $2100 before they can outperform.
An ounce of gold, roughly the amount found in a 1932 $20-face-value Double Eagle gold coin, is now almost $2,000. That reflects a 99% devaluation of the dollar.
A hard landing is the base-case scenario. Why trust the Fed when it has failed to see every major recession coming, even when it's the one creating each recession?
There is more than one way for the U.S. to default. Gold may be the last refuge when banks and investors decide that Treasury debt is anything but “risk free.”
"Gold...which I’ve recommended...people consider giving some respect to as a safe haven, has also breached a critical sentiment barrier by hitting $2,000."
As expectations build for the Fed to throw in the towel on its inflation fight, there’s a good chance the ceiling on precious metals prices will soon be lifted.
