by Matthew Piepenburg, Gold Switzerland:
Given the increasingly politicized interplay (cancer) of central bank policy and so-called free market price discovery, it’s becoming increasingly more important to track the actions of central bankers rather than just traditional market signals alone.
Like it or not, the Fed is the market.
Toward this end, we’ve had some substantive fun deciphering the past, current and future implications of “forward guidance” from our openly mis-guided crop of central bankers, most notably Greenspan, Bernanke and Powell.
Looking at our introductory chart, it seems bizarre that in a year when the US dollar M1 money supply is growing at 15% annualised (since 1 January), with interest rates still supressed at the zero bound and with the price effects beginning to undermine the carefully choreographed CPI statistics, that gold is unchanged on the year.
TOMORROW THE ALL MPORTANT RELEASE OF THE CPI//GOLD PRICE TODAY: UP $1.05 TO $1892.10//SILVER IS UP 17 CENTS TO $27.87//A MONSTER QUEUE JUMP OF 33,300 OZ //NEW GOLD STANDING AT THE COMEX: 70.03 TONNES//SILVER OZ STANDING AT THE COMEX 12.955 MILLION OZ//CORONAVIRUS UPDATE/VACCINE UPDATES/IVERMECTIN UPDATE//IRAN VS USA VS EUROPE: GOING NOWHERE ON THEIR NUCLEAR DEAL//BIDEN TO KEEP SANCTIONS ON IRAN//O/N REVERSE REPO REACHES 1/2 TRILLION DOLLARS AS THE MARKETS ARE BROKEN//SWAMP STORIES FOR YOU TONIGHT