The gold price is always playing catchup to the previous effects of inflation which are manifest in the continual loss of purchasing power in the U.S. dollar.
As Yellen smiles with glee over the sound shape we are in, she might consider that the commercial real estate market is already a disaster, even if it hasn’t taken down any more banks.
The government changed the definition of money and citizens could henceforth be compelled to accept non-redeemable paper as equal to gold or silver coins.
The coming bear market stands to bring greater hardship than the 1930s. People were more resourceful then, with 30% of the U.S. work force tied to agriculture, literally living off the land.
A cross-the-board ‘Debt Jubilee’ might sound radical, but a reading of history shows that retiring debt can actually make a country’s economy, and its indebted citizenry, all the better for it.
As trading kicks off in 2024, precious metals bulls have high hopes for price breakouts. So far in the early goings of the New Year, though, gold and silver markets are pulling back.
One reason the Fed pivot fantasy matters so much is because markets that rise on pure fantasy, eventually fall on reality. Reality always wins. It’s stronger.
I think Powell will cut rates slowly to ensure inflation doesn’t come back in 2025 or 2026. If the Fed cuts faster, it will be because they think the economy is weakening more than we have seen so far.
Zero Hedge admits the Fed’s minutes revealed everyone was wrong who believed in a Fed pivot. The Fed is going to run interest high for longer and maybe even higher if it has to.
Doug Casey says "at some point, there’s going to be a real panic into gold, the only financial asset that’s not someone else’s liability—own gold for safety and insurance."
