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New Fed Chair, Same Old Clueless Fed

Commentaries & Views

There is a new sheriff in town, as the most powerful job in the world will now be manned by Jerome Powell, another dove in the long line of Fed bubble builders. This looks like the wrong choice for an economy that we have been told is doing so well. The free money train must stop, especially if we are being told the truth about the economy.

We can’t handle the truth; jobs stink even with a 4.2% unemployment rate. There is no Cap X spending and no growth but according to Fed Chair Yellen and President Trump, the recovery is almost complete, which is nonsense. The economy is a house of cards waiting to collapse, and equity markets are searching for a reason to go down.

With all the false promises that we are hearing, gold and silver are setting up to go into the next bull cycle. The key for the metals has been their ability to hold the key support levels and build a solid base. As long as support levels hold, the next bull market in metals is beginning and a run to $1,320-$1,340 is the first objective.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
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