RE:RE:RE:RE:RE:RE:MM and Tom Luongo interview - inportantHi MaterialsMan,
I think that almost all those interviewed on Kitco provide me with a little truth and I get so used to reading between the lines that I sometimes catch myself promoting a guy that is flakey around the edges, and often through and through.
In that sense, I apologize if I sounded like a promoter of Luongo. He gives himself away when he says that gold will be up around 8,000 in a couple of years - I definitely disagree with wild statements as those.
On the other hand, it gives me some hope that Powell is adding value to money once again, by increasing interest rates. I think that it would be better for interest rates to stay at the 6% level forever.
This is what I would take as "hard money". Money should be worth something so that Trudeau, Pelosi, Schumer, and Biden can't say that more and more debt is no problem because we don't have to pay any interest on it. Hard money means that there are consequences to spending.
Hard money means that housing prices are kept in check by making mortgages reflect reality, tying the buyer to something reflecting the price of a home. Otherwise, homes all go to astronomical ticket value levels because people are buying them based on the low monthly mortgage payments. And, rich people are buying more than one home, driving the price upwards, because money is soft - or cheap.
The other thing that Powel is doing with the North American banks is separating them from European Banks, so that when the European banks start to fail, the North American banks will be solvent. He appears to be decoupling economic ties between Europe and USA. Don't ask me to say any more about that, I just have only that little bit of intuitive understanding. However, if this is true then the "world-order" that the Davos crowd espouse will be decoupled from NA. Aren't Canadians lucky to live next to USA if Powell is doing this and Canadians will benefit.
It is my opinion that Yellen, Biden, Trudeau and others are telling us that the cars of the future are electric and that your gas car will not be available, by law. So, the result may be that the private car becomes a thing of the past. There is no way that the electrical grid will be able to supply enough juice for everyone to have an electrical car, by 2035. That is again my intuitive feeling.
The crypto currency, controlled by the government, as is done in China to some extent, will allow the government to start regulating what you spend your money on. Put on your tin-foil hat and think what this looks like. This used to be an idea that was completely bizarre and completely in the realm of paranoia. It seems more and more likely. Want to buy something that is non-green? Sorry, your bank account just got frozen. We are just seeing hints of this, are we not?
Anyway, I enjoyed the romp with Mr Luong and Michelle Makori.
I am also enjoying seeing that gold was taken below 1900, hitting the stops this morning and now it is back up at $1908. So far, my thesis is unfolding the way I thought it should. We'll see if gold can rise from here.
cleareye.