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POSTED ON June 20, 2022  - POSTED IN Guest Commentaries

A 75 basis-point rate hike wasn’t even on the table a month ago. It appears that the central bankers over at the Fed were crawling around under the table because they found a 75-basis point rate hike.

The Fed went big at the June FOMC meeting in response to hotter-than-expected May CPI data just a week earlier. Jerome Powell admitted that Fed members were “surprised” but another big spike in prices.

So, what’s the plan here? Well, by all indications, there isn’t one.

POSTED ON June 17, 2022  - POSTED IN Exploring Finance

Outflows of gold from Comex vaults have accelerated. Meanwhile, there is some shuffling of inventories of silver.

This analysis focuses on gold and silver within the Comex/CME futures exchange. See the article What is the Comex? for more detail. The charts and tables below specifically analyze the physical stock/inventory data at the Comex to show the physical movement of metal into and out of Comex vaults.

POSTED ON June 17, 2022  - POSTED IN Friday Gold Wrap

The Federal Reserve just gave us the biggest interest rate hike since 1994. A month ago, we were told a 75 basis-point hike wasn’t on the table. It almost seems like the central bankers are winging it. Or as Friday Gold Wrap podcast host Mike Maharrey puts it, it’s like they’re playing darts while wearing blindfolds. In this episode, Mike breaks down the rhetoric coming out of this Fed meeting and speculates on what might be next.

POSTED ON June 15, 2022  - POSTED IN Guest Commentaries

The Federal Reserve doesn’t have a very good track record. It was wrong about transitory inflation. It was wrong about peak inflation. And it’s almost certainly wrong in thinking the economy is strong enough to withstand tighter monetary policy to fight inflation.

But President Joe Biden trusts the Fed. The cornerstone of his inflation-fighting plan is to recognize the central bank “has the primary responsibility to control inflation.” He took a shot at President Trump for “demeaning” the Fed. On the other hand, Biden said he will respect the Fed and its independence.

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