Loading ...No cut for you! Besides, we all know that inflation is bad for gold. I mean, after all, we just spent the last couple of years going up with inflation. OTOH, maybe we went up because Trump was elected and they thought he would tame inflation?
I don’t know, just so confusing to own pm’s. Normally I would like this action before a Fed announcement and would hope for a reversal after the announcement. But now that inflation is a factor, then I guess we’re screwed.
So now we have high inflation with slowing growth, which in the old days they would call stagflation. At a billion a day for the war, I’d think the Fed would have to start making some computer entry money to fund it. Someone will tell us that doesn’t matter though, the only thing that matters is whether the dollar and rates go up because of high inflation.
But wouldn’t computer entry money be even more inflationary and therefore weaken the dollar you ask?
Nope, the only thing that matters to pm’s is whether the dollar goes up and rates go down. High inflation = strong dollar. I must be stupid, stupid, stupid.
OTOH, you know who is more stupid than me? The president of the United States, because he started a war that is going to destroy everything he spent working on economically for the last year.
I suppose could take my gold to another country whose currency is falling against the dollar and gold and start buying some assets. I bet Mexico is getting cheaper these days! 🙂