Loading ...You are right about the foreign money that has been coming into the US because some still think it’s the cleanest dirty shirt in the laundry.
Thing is the Fed is not going to be doing any favors until he gets his own girl in their next year – Judy Shelton.
You know gold is going to be reset higher if she replaces Powell. I view this as likely because Powell already proved he is partizan with the rate cuts prior to the election that could be viewed as unnecessary based on the data points at the time.
The only question will be by how much (whatever it is it won’t be the last time).
It won’t matter.
That would take gold to $5,000.
Why Shelton? Because the economy should be in a great deal of trouble by then and he will be forced to play that card or lose the bond market (and everything else).
They can’t print money to the moon again and keep commodities contained.
So gold is going up no matter what they do – with the big questions here being how fast and by how much.
Force majeure on Comex would speed things up – that’s for sure.
Cheers