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Dollar Collapse/God, Energy & Tech Stocks/8-16-2020
“Gold’s slight correction of 3.99% this week doesn’t say much. But the $170/oz. decline in about 24 hours certainly did get my attention. And I have to wonder if the 22-basis point rise in the 30-year U.S. Treasury may not have played a role. While 22 basis points seems like kid stuff, it is an 18% rise in the rate of interest just this past week when in fact rates cannot be allowed to rise at all for very long if policymakers hope to keep the next financial implosion from taking place. That’s why the Fed MUST print more and more money faster and faster, which is also why I remain bullish on gold and silver. My confidence in a massive upward trajectory for both gold and silver remains as solid as a rock.”
USAGOLD note: We agree with Jay Taylor that the Fed will be careful to keep market forces from driving rates higher. Much is at stake. Any slowdown along the monetary conveyor belt could spell disaster for the economy and financial markets. Gold and silver are likely to respond accordingly.