Via SchiffGold.com,
The gold market took a one-two punch on Tuesday as Trump made some
concessions in the trade war and inflation numbers came in a bit higher
than expected. Peter Schiff talked about it in his latest podcast,
saying gold traders still don’t understand the gold rally.
Stock markets surged as gold and silver dropped after US trade
representatives said they would delay some of the additional tariffs
recently announced by President Trump. The Dow closed 372 points higher
(before collapsing back 800 points lower yesterday). Meanwhile, the
price of gold dropped below $1,500 briefly before rallying back above
that key number.
Gold actually began selling off before the trade war news when the
Consumer Price Index number came in hotter than expected. Peter said he
knew that would happen.
That is the way the lemmings trade, because
according to the conventional wisdom, if inflation is higher, then the
Fed will be less likely to cut rates. After all, they’re cutting rates
because inflation is too low and if inflation comes in hotter, well,
then there’s less of a reason for the Fed to cut rates. So
paradoxically, higher inflation is seen as being bad for gold. And the
reason I’m saying paradoxically is because gold is an inflation hedge.
Normally, the more inflation the more you want to buy gold.”
There is no way the Fed is going to fight inflation. I don’t care how high it is … One of these days the traders have to realize that these numbers don’t matter. I mean, maybe they matter to the public who has to live with a rising cost of living. But they don’t matter to the Fed. The
Fed is going to take rates back to zero no matter what these numbers
are, because the economy is going into recession even as inflation
rises.”
As far as the trade war announcement goes, Peter said it just shows
that Trump was bluffing when he announced more tariffs. He said he
thinks it makes the president look very weak.
This trade war is lost. The only question is when do we surrender and how do we admit defeat. Again, I don’t think we’re going to get any kind of deal.”
Meanwhile, the mainstream is starting to talk about a looming
recession. They are also calling for the Fed to cut rates and go back to
QE. Peter said they still don’t get it. They don’t understand that this
time around is not going to be like QE1, QE2, and QE3 where everybody
made money.
I understood from the beginning that the Fed’s plan could not
succeed, that they could never normalize rates, that they would have to
go back to zero, that they could never shrink their balance sheet, that
they would have to call it off and do more QE, because I understood the problem back then, and I still understand the problem now, and I understand the consequences.”
Peter noted that New Zealand’s central bank recently cut its interest
rate by 50 basis points, basically in an effort to preemptively keep
inflation from dropping below its target level. He pointed out that
nobody wants a strong currency.
Everybody is weakening their currency to create more
inflation. Well, what’s going to happen? The world is going to drown in
an ocean of inflation and gold is going ballistic.”
The people who are selling gold don’t get it. Gold is not
going up because of the tariffs. Gold is going up because of what the
reserve bank in New Zealand did and because that’s what all the central
banks are doing …
Every central bank has bought into this nonsense that we must have
inflation and that interest rates need to be negative. Inflation needs
to be high enough to have real negative rates all over the globe. That’s
where we are heading. So, if that is the case, people have no place to hide except gold and that is why they’re buying.”
Peter said ultimately we are going to have a global currency crisis –
a US dollar crisis – because it is at the epicenter of the global fiat
monetary system.
Amazonで買物をしてContrarianJを応援しよう この長文記事をRay Dalioが発表し、ゴールドは$1400から$1420へと急騰しました。GLD保持高に変化はないのでたぶん先物ポジションが進んでいます。 Ray Dalio Warns A "New Paradigm" Is Coming: "Buy Gold, Sell Stocks" by Tyler Durden Wed, 07/17/2019 - 14:44 Authored by Ray Dalio via LinkedIn, One of my investment principles is: 私の投資原則はこういうものだ: Identify the paradigm you’re in, examine if and how it is unsustainable, and visualize how the paradigm shift will transpire when that which is unsustainable stops. 現在のパラダイムを認識し、それがどの程度持続可能かどうか判断する、そしてパラダイムシフトがどのように起きるか、そしてその着地点を思い描く。 Over my roughly 50 years of being a global macro investor, I have observed there to be relatively long of periods (about 10 years) in which the markets and market relationships operate in a certain way (which I call “paradig...
Amazonで買物をしてContrarianJを応援しよう Silver Outperforming Gold 2 Adam Hamilton July 26, 2019 3232 Words Silver has blasted higher in the last couple weeks, far outperforming gold. This is certainly noteworthy, as silver has stunk up the precious-metals joint for years. This deeply-out-of-favor metal may be embarking on a sea-change sentiment shift, finally returning to amplifying gold’s upside. Silver is not only radically undervalued relative to gold, but investors are aggressively buying. Silver’s upside potential is massive. ここ2週シルバーは急騰した、ゴールドを遥かに凌ぐものだ。これは注目すべきことだ、もう何年もシルバーはひどいものだった。この極端に嫌われた金属が大きく心理を買えている、とうとうゴールド上昇を増幅するに至った。シルバーは対ゴールドで極端に過小評価されているだけでなく、投資家は積極的に買い進んでいる。シルバーの潜在上昇力は巨大なものだ。 Silver’s performance in recent years has been brutally bad, repelling all but the most fanatical contrarians. Historically silver prices have been mostly ...
How Are Gold And Money Supply Related? by Tyler Durden Sun, 06/14/2020 - 13:00 Authored by Mike Shedlock via MishTalk, M2 Money Supply is surging. Will gold follow? M2マネーサプライが急増している。ゴールドはこれを追従するだろうか? Let's investigate an alleged relationship between gold and M2, a measure of money supply in the US. よく言われるM2(米国のマネーサプライ指標)とゴールドの関係について調べてみよう。 "There’s a clear correlation between the annual growth rate in M2 money supply and the price of the yellow metal. " 「M2の年率増加速度とゴールド価格の間には明らかな相関がある。」 Clear Correlation? 明らかな相関? The Tweet claims something different than my lead chart depicts. So let's investigate the above idea in other time frames. このツイートの主張は私が示す最初のチャートが示すものとは異なる。というわけでこのtweetの主張を別の時間フレームで見てみよう。 Gold vs Rate of Change in M2 Money Supply ゴールド vs M2マネーサプライの変化率 If we look at longer time frames, the rate of increase in M2 theory falls flat on its face....