The Fed and Trump helping fuel the gold and treasuries move up
Today with Chris Temple we look at the continued move up in gold and treasuries combined with the ongoing fall in the US Dollar. These moves are being helped by the statement from the Fed and Trump’s ongoing lower dollar narrative. Funds are shinning a brighter light on the precious metals and if they start entering the sector the price would garner some welcome big money.
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I agree CFS. Inflation is starting to pick up around the world and that is the only thing that can help central banks avoid default – which they want to avoid at all costs.
Scott Pruitt, a climate-change denier, is affirmed out of committee and on the way to a senate vote.
We are overdue for the next ice age. We should try to warm the earth to forestall the ice age.
Chris:
Agree with you that Trump doesn’t know what he bit into. Clinton didn’t understand that he was captive to bond vigilantes. However, he had some people that explained it to him. Does Trump have anyone who he’ll listen to that can explain to him how the world works????
Larry Kudlow asked that same question this afternoon — said he hopes Trump gets a top-flight Council of Economic Advisers that explain to him that US growth means BIGGER trade deficits and a RISING dollar / interest rates.
Chris suspects that Trump doesn’t understand fractional reserve banking. That would be a scary thought. I somehow doubt that he does not understand. Even if he doesn’t, it seems likely his Goldman Sachs cloud would be explaining it to him.
Let me throw out a different theory: Maybe there is a “greater plan” to retire the $US as the reserve currency and Trump is the guy who is going to do it. This would be a little incongruous, admittedly, because what follows will be some kind of global currency regime – which is what the globalists want – at least at some point.
I find it hard to believe that a man with Trumps experiece would not understand the implications for the $US resulting from his policies.
Is there any possible path ahead where the dollar does well, long term?
Long term has become dubious, GH. It may still happen that the “old guard” reins Trump in and gets him to understand what the price is for U.S. dollar hegemony int he world; that being, among other things, large trade deficits. We’ll see. . .game might well be changing.
Aside from that, there are still many near-term structural things – as well as the chance of trouble elsewhere in the world – that should at the least limit the dollar’s losses, if not push it right back up if all of a sudden investors got scared and have to scramble for cover.
I had a target of 1225 for gold a few weeks ago and it got a little past that before falling. Only Trump holding gold up for now as he keeps opening his mouth.
I just want to tell you that I truly love listening to Chris Temple …..
Thank you!
Gold may correct to 1200 and then head for 1250 next.
Cory, the US does not have any choice but to suffer high inflation, if it tries to avoid the debt bomb.
Whether Trump can avoid a US default, I do not know, but pray he will.
Certainly his many ex-Goldman advisers are probably the best group of manipulators that may be capable of kicking the can down the road.