Skip to main content
No. of Recommendations: 2
They couldn't raise rates in 2019 so why do they think that they can do it now:

The Federal Reserve now forecasts at least two rate hikes by the end of 2023

https://www.cnbc.com/2021/06/16/the-federal-reserve-now-fore...
Print the post Back To Top
No. of Recommendations: 1
They couldn't raise rates in 2019 so why do they think that they can do it now:

Look at Powell's background. He isn't going to hurt his cronies.

In 1993, Powell began working as a managing director for Bankers Trust, but he quit in 1995 after the bank got into trouble when several customers suffered large losses due to derivatives. He then went back to work for Dillon, Read & Co.[23] From 1997 to 2005, Powell was a partner at The Carlyle Group, where he founded and led the Industrial Group within the Carlyle U.S. Buyout Fund.[22][26] After leaving Carlyle, Powell founded Severn Capital Partners, a private investment firm focused on specialty finance and opportunistic investments in the industrial sector.[27] In 2008, Powell became a managing partner of the Global Environment Fund, a private equity and venture capital firm

https://en.wikipedia.org/wiki/Jerome_Powell

Steve
Print the post Back To Top
No. of Recommendations: 3
They couldn't raise rates in 2019

???

They couldn't?

Where were you from 2015 through 2018 when they increased rates NINE times? I personally think they were too aggressive with rates in 2018, which is why we ended up reducing them some again in 2019.

Better to undercorrect than overcorrect.
Print the post Back To Top
No. of Recommendations: 2
Look at Powell's background. He isn't going to hurt his cronies.

Powell's predictions yesterday:

https://www.youtube.com/watch?v=-FuY9VERVsk

The last time The Fed. made a serious attempt to get interest rates back to anything like 'normal' was in 2005 - 2007, just before 2008! They quickly went down again.

https://fred.stlouisfed.org/series/FEDFUNDS

Now Powell is threatening to increase rates by a small amount in two years and is being described as hawkish:

Fed likely to make hawkish sounds but don’t be fooled

https://www.marketwatch.com/story/dont-be-fooled-by-some-of-...

Powell is between a rock and a hard place. If he stops the low interest/cheap money fiasco the economy will implode, if he carries on with it the economy will explode.

I can't see any way back for the US dollar.
Print the post Back To Top
No. of Recommendations: 2
It seems that it also may have been an attack on the rise in gold and silver prices as it coincided with the dumping of a load of paper gold derivatives by the bullion banks:

Comex Gold Trading Was Form vs. Substance Today...

...The sell-off today in the gold and silver market was unadulterated, blatant price manipulation confined to just the CME paper gold trading arena using Comex paper gold contracts, as soon as the FOMC policy statement was released at 2 p.m. NY Time. Note that the only commodity market in the world that is open at this time is the CME/Comex. Market “depth” is thin at this time of day. The paper gold price was further hit another $20 right after the NYSE closed (click image to enlarge), when liquidity is as its lowest.


https://goldseek.com/article/comex-gold-trading-was-form-vs-...

Premiums on physical gold and silver were unaffected.


What a way to run an economy!!!
Print the post Back To Top
No. of Recommendations: 0
It seems that it also may have been an attack on the rise in gold and silver prices as it coincided with the dumping of a load of paper gold derivatives by the bullion banks:...

... paper gold derivatives ...

How far can they get from gold and still claim its value still has anything to do with physical gold?

Premiums on physical gold and silver were unaffected.

I should think so, physical gold and silver actually exist!
Print the post Back To Top
No. of Recommendations: 3
... paper gold derivatives ...

How far can they get from gold and still claim its value still has anything to do with physical gold?


Basil 111 will curtail the fifty year war on gold and silver, and could have a major impact on the USA dollar which is already on its knees:

When considering the fallout this could have, at this juncture there are some analysts that believe this could be the end of the dollar (many still believe the dollar to be on its knees by the end of 2021 regardless of Basel III) and some that still cling on to its stature as the world’s reserve currency and it won’t be allowed to fail. Gold is money, and there’s an argument to say it’s a currency as its value is traded against the US dollar. If you buy gold you are effectively shorting the dollar or betting its value will decrease. Whilst there is obviously more to it than that, fiat currency has and continues to lose purchasing power over the years. Gold has always been a hedge or security against dollar debasing and inflation.

https://www.investing.com/analysis/basel-iii-gold-the-dollar...

I've been shorting fiat currencies for some time!
Print the post Back To Top
No. of Recommendations: 0
I should think so, physical gold and silver actually exist!

Not when it is deposited with a government... Some countries were having a hard time getting their gold back...

Germany has got its gold back — They must know something we don't
Matt Clinch | @mattclinch81
Published 1:22 AM ET Tue, 14 Feb 2017


https://www.cnbc.com/2017/02/14/germany-has-got-its-gold-bac...

The Captain
can't get in to Fort Knocks to check it out...
Print the post Back To Top