Gold’s Record-Setting 2024 Continues
The price of gold has continued climbing to one new all-time high after another
Is Powell playing politics? See the gold and silver charts!
First Gold…
…and Silver
The latest moves have come in response to the Federal Reserve and its broad hints that Powell is playing election-year politics. While inflation surprised officials on the high side in both January and February, at last week’s policy press conference Chairman Powell was surprisingly dovish about inflation. Powell suggested that the Fed may even slow down its Quantitative Tightening policy of unloading US Treasury and other bonds.
That was all both gold and silver markets needed to hear, taking it as further evidence that we are in primary bull markets in both metals.
By the way, we are on record a couple of times making the point that the Fed can be expected to tilt the scales left in the upcoming election. Here is what we wrote in January about the likelihood that the Fed would be in the tank for Biden:
We told you last year that you can expect the Fed to put its big, fat monetary thumb on the scale to help re-elect Biden (or whoever the Dems turn to in Biden’s place).
Fact: For every Republican economist at the Fed there are 10 Democrat economists. The institution is so far left that it endangers the spinning of the Earth on its axis. Surprised? Of course not. The very idea of a central bank is a communist dream.
Karl Marx long ago included it as one of the 10 essentials of creating a communist regime: “Centralization of credit in the hands of the state, by means of a national bank with state capital and an exclusive monopoly.”
So of course, the Fed is thick with leftists. And of course, it will tilt the game to get Biden re-elected. It has done that sort of thing before!
We told you last year that you can expect the Fed to put its big, fat monetary thumb on the scale to help re-elect Biden (or whoever the Dems turn to in Biden’s place).
Fact: For every Republican economist at the Fed there are 10 Democrat economists. The institution is so far left that it endangers the spinning of the Earth on its axis. Surprised? Of course not. The very idea of a central bank is a communist dream.
Karl Marx long ago included it as one of the 10 essentials of creating a communist regime: “Centralization of credit in the hands of the state, by means of a national bank with state capital and an exclusive monopoly.”
So of course, the Fed is thick with leftists. And of course, it will tilt the game to get Biden re-elected. It has done that sort of thing before!