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Did the Fed rat hike just put another bottom in gold?

Cory
March 16, 2017

Today with Rick we revisit some of his targets for gold. After the pop in the gold price there is a more bullish outlook for the metals but Rick still wants to see a move higher to take out some close targets. We wrap up with some comments on the US markets and the potential for a bear market.

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Discussion
23 Comments
    CFS
    Mar 16, 2017 16:44 AM
    CFS
    Mar 16, 2017 16:05 AM
    Mar 16, 2017 16:12 AM

    Rick I believe you’ve said that you have been 30 plus year bear on inflation? You have been expecting a major “depression grade” deflation for a very long time. Can you and Cory please spend some time explaining your position in contrast to the Chinese silk roads re-boot that is just in its nascent stages. It is said that if completed, it will equal more than 30 Marshall plans. I know it’s just a “government plan” but so was the Marshall plan! Anyway, the Chinese are playing a very long game on this one. Are you saying that their Silk Roads plan is bunk and will never be happen? Won’t this project provide a little inflationary pressure? Remember their “Silk-Roads” plan will affect 4 billion emerging market consumers.

      Mar 16, 2017 16:38 AM

      I’d like to correct the “30” times the size of the Marshall plan and just say it it will spend at least 4 Trillion dollar infrastructure plan.

    CFS
    Mar 16, 2017 16:29 AM

    FRANKFURT, Germany (AP) — Germany’s finance minister is denouncing trade protectionism ahead of a meeting with U.S. Treasury Secretary Steven Mnuchin and a summit where global finance officials are expected to tussle over how strongly to support free trade.

    Wolfgang Schaeuble said during a speech in Frankfurt, Germany, that “protectionism and nationalism are never the right answers.”

    He said that countries were “more connected and dependent on each other that at any other point in history… We cannot turn back the clock and reverse globalization… but we can shape it.”

    Schaeuble’s meeting with Mnuchin comes after U.S. President Donald Trump’s administration criticized Germany’s trade surplus. Members of the Group of 20 countries will debate whether to confirm their rejection of trade barriers when they meet Friday and Saturday in southern Germany.

    CFS
    Mar 16, 2017 16:32 AM

    Bix Weir…..
    Doing his thing!

    https://www.youtube.com/watch?v=u3zxYWSuWec

      Mar 16, 2017 16:02 AM

      Interesting fact.(I believe)…….The one and only year of the ” 2009A $100 Bill” ..or this gold note with this printing date…….. The printing date of this” 2009 A” bill with Timmy Geutners signature as Treasury Sec on the bill.
      What should be noted…….is every time in the past, when administration change or a new change of office in position of Treasury Sect., there were NEW BILLS printed with the new sect of treas with that treasury sect signature on the new bill, so we should have had some different one hundred dollar bills , rather than only one type , that being the,,,, “2009 A”. I think this will go down as mint history. I am still doing research , on this and will report back if this changes…………any currency collectors out there should follow up, if I am wrong……..thanks j.

        Mar 16, 2017 16:05 PM

        That’s interesting regarding new bills with the new treasury secretaries position changes.

          Mar 16, 2017 16:33 PM

          Interesting story concerning the monetary system, the Bureau of Printing. and history of currency………I have been collecting currency since 1976…….real history lesson concerning the Fed, Central banks, silver mining industry and gold.

            Mar 17, 2017 17:10 AM

            Bicentennial coins were beautiful craftsmanship and encouraged many to start collecting. I used to have a number of proof sets from 1976 but sold them all.

            Honestly, it was my numismatic interests earlier in life that first got me interested in Gold & Silver. It took the 2008 crisis for me to get interested in bullion though. I dug around in my attic for the dusty collection, and sold my whole coin collection in one pass.

            Personally, I had my own 2008 financial crisis at that time, and needed to shut down 2 offices in my business, and just needed some emergency cash. Like so many, I didn’t think the good times would ever end, and really by 2007 I smelled blood in the water, but I had become too over-extended. By late 2008, anything that wasn’t nailed down was getting liquidated (Mutual Funds, Stocks, Baseball cards, etc…. so the coin collection was no exception).

            I remember there was a dealer at the Coin show that was fair and gave me good money on my Morgan dollars that had real value. However, on many I just got $10 a pop for the Silver bullion credit and that was it. I was devastated that they were only worth their spot Silver, but it was an eye opener. He told me I timed it out wrong and that they had been worth $20 a piece earlier in the year. (that didn’t make any sense to me at the time).

            The other big takeaway, that I still remember from time to time, was that coin show was soooo dead, except one booth that was rocking and had people buzzing, laughing, and mixing around it…….. (the Silver/Gold bullion dealer). As I gazed in through the glass display at all the shiny bullion, I had a TERRIBLE feeling of seller’s remorse in liquidating all my Silver.

            I had a long drive home and couldn’t stop thinking about that bullion booth. When I got home I spent all week researching Gold & Silver, Kitco, Monex, Apmex, etc…

            ** A week later I got a David Morgan DVD in the mail about Silver and got hooked.

            I started buying and reselling Silver bullion from 2008-2011, but in 2010 decided to start trading the Gold and Silver stocks (and eventually PGM & Uranium stocks) as I liked playing the shorter duration moves in the markets.

            Previously my investing experience was only in larger financial stocks and indexes. I had no idea how insane the Resource investing space was in comparison, but 2010 and 2011 was an absolute riot, followed by a really rough 2011 & 2012. (what a rollercoaster). Finally, after taking a few bad lumps in 2012, it seemed worth it to spend the time to start learning more Technical Analysis and it allowed me to operate in the bear market we all just lived through for 5 years. That’s when I found the KER as well.

            None of it would have happened if I hadn’t been a coin collector earlier in life. Strangely, now, I have very few collectible coins anymore, but still like to look at them in person or online for their history & craftsmanship.

            Mar 17, 2017 17:23 AM

            thanks for sharing….interesting story…..glad you found the KER site , you have contributed a great wealth of information these past years…….Appreciate your giving…….J

            Mar 17, 2017 17:49 AM

            You were one of the first people I spoke with, along with Matthew. I had listened and lurked for a while before deciding to dive in. My advice for others reading and lurking is to jump on in…..the waters fine.

            Jerry – Thanks for being welcoming & informative from day one here, and I also appreciate all the ideas and input you share on here each day. It’s a good group of folks here in the Big OWLCoinland Report.

            Mar 17, 2017 17:22 AM

            thanks ….. 🙂 glad you hung in here…….

          Mar 16, 2017 16:39 PM

          As Bix has stated , there is a lot going on with this 2009A one hundred dollar bill……

    Mar 16, 2017 16:27 AM

    For you webmaster IT type guy: If a person makes a comment on the blog and then goes on to make a second comment, it often duplicates te original (first comment when it posts a second one). If you make three or more, then it can be that you end up with numerous repeated comments. I just noticed this when I posted on Doc’s page today:
    http://www.kereport.com/2017/03/16/pm-stocks-sharing-move-today/
    I am not commenting on that actual page because otherwise there will be repeats all over the place! This has happened a few times to me since the blog was started.

      Mar 16, 2017 16:08 PM

      Silverbug. I’ve seen that before as well, but usually if return to the main page and then go back into that blog, you’ll notice that only messaged posted.

      There is another glitch though…. where if you hit “submit comment” and while it’s waiting to post, change anything on the chat window and hit submit for a second time, then it will post the original and the changed post back to back.

        Mar 16, 2017 16:09 PM

        You’ll notice that only (one) message posted…..

    Mar 16, 2017 16:27 AM

    OK let’s see if it happens this time.

      Mar 16, 2017 16:28 AM

      Oh it didn’t, just to be awkward!

      Mar 16, 2017 16:18 PM

      It didn’t happen last time either. You just had to refresh your page.

    Mar 16, 2017 16:55 PM

    U.S. National Debt Clock includes Precious Metals numbers.

    http://www.usdebtclock.org/

    Mar 16, 2017 16:51 PM

    The dollar is still is an uptrend and it will come back to bite soon.
    https://www.tradingview.com/chart/3KADNJ0y/
    https://www.tradingview.com/chart/3KADNJ0y/

    GH
    Mar 16, 2017 16:05 PM

    https://libertyblitzkrieg.com/2017/03/16/donald-trump-works-for-wall-street-not-russia/

    That Trump would be less than stellar was always a high odds bet.

    I just wish people would start hammering him on the right things.