from Liberty and Finance:
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Peter Schiff: Gold Will Explode; The Dollar Will Implode When the Markets Figure This Out
by Peter Schiff, Schiff Gold:
Peter Schiff says gold will explode and the dollar will implode when the markets figure out the Fed is crying wolf when it comes to monetary tightening.
The Federal Reserve wrapped up another meeting without making any changes to its current extraordinary, loose, inflationary monetary policy. But the central bank did hint that it may start tapering its quantitative easing program “soon.”
That was enough for the markets. They continue to expect the Fed will tighten monetary policy and fight surging inflation. Gold sold off after the FOMC statement came out, dropping about $10.
Silver-Gold Ratio Opening Up Again
by Peter Schiff, Schiff Gold:
The silver-gold ratio has ballooned again, indicating that silver is once again a bargain buy.
During a gold bull market, silver typically outperforms gold. We saw this during the big runup in the price of both metals through the early months of the pandemic. In the third quarter of last year, silver charted its best quarter since 2010, finishing up 27.62% through the three months ending Sept. 30. Going back further, silver spiked 106.6% off its March 2020 low.
An Ode to Meat Loaf
by Craig Hemke, Sprott Money:
As the FOMC meets over the next two days, the markets look to Fed Chairman Powell and ask: “What’s it gonna be boy? Yes or no?” And whichever answer Powell provides on Wednesday via his fedlines and press conference will likely determine where precious metal prices head as we move toward month- and quarter-end.
So, what will it be? Yes to taper, or another kick of the can? As I type on Tuesday morning, it’s almost impossible to guess the outcome, simply because the Fed has given so many conflicting answers and clues over the past few weeks.
First, we must consider the overall feasibility of tapering the Fed’s involvement in supporting the bond market. If the Fed’s $80B/month in debt monetization is removed from the bond market, from where will buyers emerge to replace them? If no buyers emerge, then how far will rates have to rise in order to attract the buyers necessary to keep treasury auctions from failing? Would the yield in the 10-year note have to rise to 3%? Maybe 4%. Maybe even higher? The U.S. simply cannot afford these levels of nominal rates, so the notion that the Fed can withdraw from the bond market at this point seems silly on its face.
Just When Gold & Silver Need Some Luck, It’s That Week Again, The Market Is Crashing, And The Sky Is Falling
from Silver Doctors:
Theoretically, this week should be “good for gold”. But in the real world…
(by Half Dollar) It’s that week again.
Fed week.
On Wednesday, September 22, 2021, the Fed will conclude its most recent 2-day Federal Open Markets Committee meeting, or FOMC meeting, at 2:00 p.m., Eastern Standard Time, which will be followed by a Fed Chair Jerome Powell press conference at 2:30.
Market Report: Bullion banks still trying to close their shorts
by Alasdair Macleod, GoldMoney:
Gold and silver suffered a sharp sell-off on Thursday, with gold falling $21 on the week from Friday’s close to trade at $1766 in morning European trade. Silver lost 65 cents over the same timescale, falling to $23.10.
Other than generally quiet trading conditions there was no fundamental reason for the sell-off. True, the dollar’s trade weighted index moved slightly higher, perhaps shaking out a few weak hands from holding long positions. The dollar’s TWI is our next chart.
