Recapping the Fed Statement
Chris Temple joins me for a quick comment on the recent Fed statement today. Nothing surprising in terms of a slow unwind of the balance sheet starting in October and a potential rate hike in December. We discuss the comments made by Yellen and what this all means for the markets.
As mentioned I am on my way home from the Beaver Creek conference. It was a packed two and a half days but there were a number of high quality stories that I am excited about. Over the next couple weeks I will post a list of the stories that caught my eye.
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Cory, what did you think of Liberty Gold’s and Vista Gold’s presentations on Tues?
Chris needs to ditch the dial up connection 🙂
Forget The Fed statement, Puerto Rico which is a territory of The US needs help. Puerto Rico is a strange situation, they want to become part of The United States but their citizens who actually have US citizenship are not part of The US because they don’t pay US taxes, but they have been allowed to borrow money from The US at these low rates and are insolvent. Their citizens have been trying to get statehood but The US congress has been denying them access. I think America should do the right thing which is to recognize them. Teddy Roosevelt fought Spain in The Spanish American War in 1898 and Puerto Rico was ceded to The US but they have never allowed these people to be part of their country. It sounds silly but The US always wanted their property but they didn’t want the burden of including Puerto Rico in their country. Now that Puerto Rico has suffered debt default and Maria the hurricane, The US must stand by these people. DT
Shame on you America for not including Puerto Rico as part of your country. How terrible it is to take but not to include when you should have done this a long time ago. DT
We need PR to escape to….they are lucky they do not pay into a fraud system of taxation without representation…….JMO
Shame on America for being ignorant of the constitution….
I have a Puerto Rican friend. She says that about 1/3 want statehood, 1/3 want independence, and 1/3 want the status quo.
Can’t understand why anyone would overly react to the balance sheet unwind. At 10 billion a month, it will only take them a shade past 37 years to clear it up completely…………..A great big nothing in my opinion.
Only gold bugs react the same way everytime. It is amusing in all honesty.
There were no surprises in the feds statement and follow up questions. But the gold traders….its the same old same old…panic selling.
Gold traders shoot themselves in the foot all the time. Why should this tim be any different? I certainly expected the gold traders to do what they did.
It does not matter that the expectations matched the actions….gold traders are truely a perfect example of Pavlov’s Dogs experiment.
Dumb and dumber.
They pumped the USD/JPY which triggered the sell algos…as usual.
Thanks for this analysis of today’s news.
Couldnt have said it better myself Silverdollar. Like you say it could be decades until their balance sheet is cleaned up at the current rate mentioned.
The same old jargon where everyone overreacts. The fed play it well. They dont actually have to do anything to influence markets. Just rattle off the same old one liners mixed in with a load of jibberish.
On most occasions, actions speak louder than words but in the world of finance words and actions are on a level playing field. Some might say words are sometimes more effective.
Who is going to buy all the over priced stock…….
147 million people on welfare…………
Let’s watch the Debt clock……..let’s see $21.1 trillion and counting, plus interest, plus another trillion every year….plus some…..
Wow, $21 trillion and counting. Who in their right mind believes this can ever be repaid in full? Common sense is no more!
This is a little off topic but you might find it thought provoking.
http://www.silverdoctors.com/gold/gold-news/breaking-u-s-senators-introduce-bill-in-direct-attack-on-gold-silver-mining/#more-82324
Some very strange and very foolish things are going on lately and this one if it isn’t a hoax ought to undermine gold and silver mining and exploration in the U.S.
roduced the Hardrock Mining and Reclamation Act of 2017, legislation to modernize the nation’s antiquated hardrock mining laws. The bill requires companies to pay royalties for the first time for the ability to extract mineral resources like gold, silver, and copper from public lands, helps ensure that taxpayers aren’t on the hook for cleaning up abandoned mines, and seeks to prevent another toxic spill like the Gold King Mine disaster of 2015. The Gold King Mine blowout spilled 3
from public lands, helps ensure that taxpayers aren’t on the hook for cleaning up abandoned mines, and seeks
Mitch McConnell is the joke that can stop a TRAIN
Righto, gold and silver sliding well here. Another couple of percent in the gold selloff and I recon some midterm damage is inflicted. However if the PMs were to reverse and gold was to close above 1300 for the week then that it is a positive sign.
Cory, why go all the way back to Canada when you could’ve hiked from Beaver Creek to the Broadmoor near Manitou Springs for the Denver Gold Conference next Mon.? The aspens should be turning yellow by now.