SilverSeek
Thu, 06/18/2020 – 13:34
SilverSeek.com
Thu, 06/18/2020 – 10:45
Acting Man/Peter Tannebaum/6-15-2020
“It started out with Jay Powell planting a happy little money tree in 2019 to keep the repo market from suffering a terminal seizure. This essentially led to a restoration of the status quo ante ‘QT’ (the mythical beast known as ‘quantitative tightening’ that was briefly glimpsed in 2018/19). Thus the roach motel theory of QE was confirmed: once a central bank resorts to QE, a return to ‘standard monetary policy’ becomes impossible. You can check in, but you can never leave.”
USAGOLD note: The Hotel California allusion is an apt one. Tannebaum does a good job illuminating the dangers of an extended stay.
MarketsInsider/Carmen Reinecke/6-16-2020
“A record number of investors think that the stock market is ‘overvalued,’ according to Bank of America’s June Fund Manager survey. Net 78% of investors said that the stock market is too expensive, the most since the fund manager survey began in 1998, Bank of America said Tuesday. The firm surveyed 212 fund managers with $598 billion under management during the week ending June 11.”
USAGOLD note: Wall Street’s pros think the market is on shaky ground. Main Street, if reports are to be believed, is oblivious ……
