Post by
metalhead666 on Apr 16, 2023 9:24pm
Everything is going to fall including gold and miners...
The FED isn't done hiking and even if they paused it's not a pivot. QT continues. Bank lending is falling, Debt is unfathomable and unsustainable. Half this country lives pay check to pay check and they're about to lose their jobs. More people pay $1000 per month for their stupid truck toy loans not counting insurance, taxes and fuel. Fuel is going higher. Inflation is down but still high. Earnings have peaked. Margins are contracting. Retail sales are falling. Government deficits still are in the Trillions. Debt ceiling dysfunction is near. Politics is a clown show. Protests are growing world wide. The war continues. The trade war continues. Climate change continues to worsen with big storms coming and disruptions to agriculture. Things are starting to break. The banking crisis is not over...far from it. Commercial real estate is collapsing. Bankruptcies are rising. Credit card debt is a record and the rates are over 20% Student loan repayments to restart....perish the thought! Social security and other handouts is in trouble worldwide...see France. Currency wars. The money supply is steadily falling and that's what fuels all equity bubbles. 5% in a money market.... Shall I go on?
You are not safe in gold or miners. You are not safe in anything. You can get back something in depreciating dollars with T Bills but that's the best thing there is now...something rather than nothing. Jewelry demand will fall off a cliff and that's the largest use of gold. When everything dumps like in 2008 everything falls....including gold and miners.
The only hope for truly outsized gains will come if and when the FED folds but it will be the end of the system. They cannot force feed more debt on the bloated pig of a leveraged economy. Gold will see $3000 or more but this could take until year end to unfold. In the meantime you had best go easy, hedge, day trade or don't play. Drill results aren't going to save you......
Comment by
Angelique01 on Apr 17, 2023 8:57am
Don't embarass yourself with your "Chicken Little" drivel. Aren't you the the self proclaimed genius who was predicting a fed pivot in August 2022 and every month since then?. According to you the world has ended a dozen times in the last year. Have never seen a poster so clueless and consistently wrong. Best contrarian indicator out there. TA TA