Month: July 2021

MarketInsider/Theron Mohamed/7-5-2021

“We will have to live, potentially, possibly, with the biggest loss of perceived value from assets that we have ever seen.” – Jeremy Grantham, GMO cofounder

USAGOLD note: This article provides the rundown for those who haven’t kept up with the growing list of notables worried about speculation and over-valuation in the stock market: Burry, Grantham, Cooperman, Druckenmiller, Gundlach, O’Leary, Kiyosaki, and Shilling.

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Bloomberg/Javier Bias/6-28-2021

“Fast forward more than a decade and [hedge fund manager Doug] King is having one of the best years of his career: a broad-based commodities boom has pushed up his hedge fund nearly 50% this year as raw materials from steel to soybeans hit multi-year highs. Commodities are back, and from pension funds to physical commodity traders, everyone is making money.”

USAGOLD note:  Speculators are making a killing and the financial markets have thus far escaped the worst effects, but we are only at the beginning of the inflationary process. Rising prices on raw materials such as what is described in this article will affect not just the largest industrial economies in the months to come – but all economies and, we will add, all financial markets. King concludes that “[T]his is the beginning of a proper boom cycle — this isn’t a transitory spike.” All of which raises the prospect of more than one black swan circling the pond.

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