Opinion: A new stock-market high is coming because of all the money that is being printed

MarketWatch/Nigam Arora/7-21-2020

“The stock market is likely headed toward a new high fueled by borrowing and money printing, European leaders have agreed on a recovery plan that will cost $2.1 trillion. In the U. S., another stimulus package is likely ahead. It is out of fashion to consider how the borrowed money will be paid back. Central banks stand ready to print as much money as they want — there appear to be no constraints on the central bankers, who are not elected. The momo (momentum) crowd is celebrating by increasingly aggressive buying of the momo stocks. Prudent investors are asking: ‘Is there a limit?’”

USAGOLD note:  The short answer to the question is: “Yes.” The first item on Arora’s extended to-do list is “hold some gold in your portfolio.”