Since we may all be thinking of other things instead of metals today, and seeing that chart this morning with silver swatted down yet again, I am certainly focusing on other things. Well, perhaps the bankers just gave metals a mean look and said, “Get back in your room!” rather than a full trip to the woodshed.
(My gut says, “If silver really does drop to single digits, crack open the piggy bank [credit] and make a purchase.”)
John Batchelor and Professor Stephen F. Cohen have recorded weekly updates on The New Cold War for nearly five years now...and we've diligently posted them here at TFMR since early 2014. Nowhere else in western media will you find such a fair, balanced and objective discussion of the situation and I urge you in the strongest possible terms to listen this week and every week.
As evidenced around the internet, more and more folks are catching on to this latest CNY-gold link. But while this correlation is clearly evident, there's very little agreement as to why it exists in the first place.
Once again, the Consumer Price Index prints with little if any overall price inflation, at least as measured by this index. Keep in mind, of course, that one the primary rationale used by The Fed in hiking the fed funds rate is to restrain inflation. They must be doing a great job!
This seems like a good complement to what we just wrote yesterday regarding the lies told regarding Syrian chemical weapons back in April. Our old pal, Jim Quinn, shows that the lies don't start and stop with just foreign policy.