kingworldnews.com
The price of gold soared a staggering 9% as it approaches the $1,700 level before pulling back, but take a look at this…
Chaotic Early Trading On Tuesday
March 24 (King World News) – Peter Boockvar: Turnaround
Tuesday after the strong rallies overseas but we still need this bill
passed in Congress without some worrying about airline emissions right
now. Save that for another day…
Now
that the Fed is buying corporate bonds in a workaround to the Federal
Reserve Act, along with everything else they are doing EBAY better watch
out because they might start buying what you’re hocking from your
attic. We are also not far removed from the expressions of worry on the
part of some Fed members expressing concern about excessive corporate
debt that the Fed itself encouraged and enabled via its easy money
policies so just as we saw in the last expansion and financial crisis
the Fed lights the match and then shows up in the fire truck.
US Dollar Tumbling As Gold Spikes
In response to QE infinity and the Fed can now buy anything that is not
locked down (but please DO NOT BUY US STOCKS as what’s left of
capitalism will never be the same), the US dollar is down for a 2nd day
across the board (the oil rise is also helping commodity currencies and
EM) and gold is up nearly $100 after spiking by $85 yesterday. Silver is
finally off its mat after indiscriminate selling over the last few
weeks and I expect both to go much higher in this world of monetary
anything goes.
The
debate is beginning to heat up on when to start opening up our economy
and it will be intense as we weigh the health and economic issues. I
understand the needed balance but once we have millions more test kits
in coming weeks this decision I believe gets much easier and to repeat
what I said yesterday, those most vulnerable will continue to stay home
while the rest of us start resuming life again, with masks and all the
other precautions. And if we do get the virus, our current health will
quickly conquer it and herd immunity will grow. Throw in some success
with the talked about therapeutics and we can get past this quickly.
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