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Jim Grant has a new article here in which he questions how powerful the Fed has become and how it has perverted and destroyed the pricing mechanisms of the Bond market.
Gold and silver will have their day. I know you will stick around for that. 
https://www.zerohedge.com/markets/jim-grant-fed-has-left-us-bond-market-thats-all-destroyed
Mr.Copper @ 16:09 re:PGM.V-LRTNF
I’m hoping they’ve bottomed. Seems like a great bargain here. I believe they’re supposed to be in commercial production in the second quarter. Sometimes this can be a dangerous time if a new mine doesn’t perform as expected.
Ipso
Yeah, inflation is coming big time. I am seeing it in the metals business which is my cup of tea. Currently our suppliers are only holding pricing for a couple of days, as pricing from the mills are so volatile. I don’t believe this is demand driven as much as currency and bullshit driven, bit it still is what it is and we have to price accordingly.
Everything is the result of our ridiculous monetary system. No doubt the Fed needs to buy more bonds and Powell should have come out and said as much today. He will have to say it eventually before rates explode on him like they did today.
The poor bastard needs rates down near zero – and I’m talking the 10 year – to service the debt and keep housing afloat otherwise he loses the US economy. Maybe, that was the plan all along, for Biden to come in and crash things.
Clearly oil is a better inflation hedge than gold. So are oil stocks. Never thought that was true until this third crash around. It appears anything but PM’s is the bet against inflation, even the dollar. Who would have thought?
@ipso facto re LRTNF Chart Pure Gold Mining
I remember you posted this chart back in September. With that ticker. I saved that chart set up. Looks like LRTNF may have bottomed. Up 5.7% today 3 days off the bottom.
Is the Fed so stupid that they think manipulation will control the mkts
Why didn’t Powell address the Repo problems…..can he be so stupid that he thinks, that manipulation will correct the imbalances…if so hunker down folks.
The cheaper they make PM’s, the faster they become a no brainer buy and the larger the audience, the bigger the Gold fever will become ….we now have morons handing out gifts courtesy of the government.
Buygold @ 13:05
We’ve got more inflation so the dollar is going up and and gold down right? Hmmm
Buygold
scum have got the Algo’s that relationship arb, to pretty much follow the SM no matter the news/direction….except when the SM rallies in PM ‘s
case……it’s insane…..
Re A.I. Artificial Intelligence, Means Fake, Wrong, Incorrect Intelligence
NOT Organic. And those people are imo, grouped in the so-called liberal left, who have been the dominant forces in the USA since 1970, and even before that time. A chain of events after the 1929 crash, and gold confiscation in 1934, to pump up money supply for WW II Korea, Vietnam, Moon landings, and BINGO!
Those years of money supply inflation after 1934 to 1971 led to no more Silver Coinage after 1964, no more gold backing on the US dollar after 1971 and DOWN we went. Interest rates 5% to 21% in 1981. Even the poor Copper One Cent piece had to Banned after 1981 changed to zinc. Were the Fed and US Treasury proud that year 1981??
The Financial Managers, Bankers, Big Business, all have artificial (wrong)intelligence if they learned everything they know from schooling and Mass Media. The FIRST thing the people need to do is figure out, is how the take over the schooling and media and reverse to what people are being taught and how to behave.
Its going take 50 or more years to correct and REVERSE all the Financial and Political nonsense that become the normal dominant forces “that got their ways” all these decades that led to the results of these days.
A “Magic Trick Election” and “modern 4 year assignation” of the US President of the USA, Fighting Back for the country, trying to make the US Economy better. And he really didn’t the job and its consequences. Hopefully system well have a nice big “blow off Bottom” chaos mess during Biden 4 yeras, and Trump or his kids get back in in 2024.
Re Jerome Powell Spoke and Caused the Indices to Swan Dive.
Swan Dive: The head back, back arched, and arms spread sideways and then brought together above the head to form a straight line with the body as the indices go straight down into the water.
Indices Swan Diving: https://finviz.com/futures_charts.ashx?t=INDICES&p=d1
I guess the PMs are going down in sympathy. Until they wake up and realize, the indices are not in the inflation sand box and the indices are in over priced sand box.
Story: Treasury yields above 1.5% after Powell Spoke:
Parts:
Powell emphasized that interest rates would remain near zero until labor-market conditions are consistent with maximum employment, and that the economy has a “significant amount of ground to cover” before that is achieved. And while he hesitated to provide a timeframe to start slowing the Fed’s $120 billion of monthly bond purchases, he reiterated that the central bank will provide plenty of advance notice. I would be concerned by disorderly conditions in markets, or a persistent tightening in financial conditions.”
““Fed policymakers have essentially said they are comfortable with yields rising at least a bit more from here. We suspect that if the [10-year] yield were to reach 1.75% in a matter of weeks, not months, the Fed may feel inclined to change its tune,””
Comment:
These unqualified financial leaders, bankers, running the system have a lot to learn. They caused numerous fiascos after 1913, and 1933 hyperinflation in Germany caused Hitler to get voted in and we all know how that unfolded. The USA went into deflation after 1929. You would think they got a hint back in the day, that their 1913 objectives had flaws.
As things stand if the Idiot Fed wants maximum employment in the USA they need a much lower minimum wage. Cheaper wages over time will encourage people to open or start businesses and hire people. Wages lower than inflation is what’s been going on since 1970. And we have a multi trillion national debt and lower living standards.
So maximum employment thru lower wages, more businesses and taxpayer jobs and fake environment jobs created out of thin air has been an incorrect objective. They should hang up their pride, get a handle here, and ask me for help. Like I said, these well educated Bozos have a lot to learn about economics. “Keep it simple stupid”.
.
Ipso – yep
Powell spoke, bonds, SM, gold, everything getting creamed except the USD.
Inflation and higher rates coming.
Inflation used to be friendly to pm’s but no mas.
mr copper
likewise,
the dollar…
the hui…
west texas crude…
spot gold…
spot silver…
wpm…
exk…
recaf…
the beat goes on
Looks like bond mkt doesn’t like what Powell has to say….
or the scum are pushing rates up and gold down to make room for doveish comments…..
@treefrog re your “did the tide just change?” @all FYI
I think maybe it did. Because my AGI position, Alamos Gold has been dropping after Gold started dropping after August, and this morning for the first time, it popped up at the top of my watch list like +6%. Its a good stock and very low, pays a div and has a p/e. Also above average volume, and ex/div coming up.
My CDE looking feisty also this morning. BTG is another, pays a 3.5% ex/div tomorrow, so has to be bought today and it already on lows. XOM Exagone 🙂 also looking like a good bet and pays 4.56%, historically around $80/sh. The 50 crossed over the 200.
AGI: https://schrts.co/cQfPFxST
There was a micro version of the last few weeks.
a 4 dollar gold rally smashed by a near 10 dollar drop.
New Poll New Poll
Vote! Vote!
treefrog @ 11:13
If it comes in then maybe it won’t stink so much.
did the tide just change?
about quarter past ten this morning?
Sprott Monthly Report
Taper Tantrum Takes a Bite Out of Gold
https://sprott.com/insights/sprott-monthly-report-taper-tantrum-takes-a-bite-out-of-gold/#