Gold News Today

Daily Reckoning/James Ricards/3-23-2021

“Savvy investors know the dollar price of gold is volatile. They keep their eye on the long-term trends and long-term drivers of the gold price. Sophisticated investors don’t sweat the dips. They see the occasional drawdowns as a great entry point and buying opportunity. So do I.”

USAGOLD note:  Rickards goes against the rising tide of inflation expectations by saying that instead of inflation “deflation or disinflation will reappear.” Gold, he adds, wins either way. We see the economy’s direction as a flip of the coin and that’s why we present the range of arguments here at the Today’s Top Gold News & Opinion page. Those of you who frequent this page know that we agree with Rickards:  Gold wins either way.

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CNBC/Jeff Cox/3-26-2021

“The Federal Reserve has come a long way from the days of warning about ‘irrational exuberance.’”

USAGOLD note:  We have commented more than once on the Fed’s extreme change from inflation fighter to inflation inducer. We would kick the discussion up a notch to say that not only has the Fed embraced the punchbowl, it has spiked it with 100 proof vodka. San Francisco Fed’s Mary Daly comments on removing the punch bowl just as the party is getting started is telling: “That’s something that worked maybe in the past, definitely doesn’t work now, and we’re committed to leaving that punchbowl or monetary policy accommodation in place until the job is fully and truly done.” All of which begs the question, ‘How does know when the job is fully and truly done?’

Related: “Scoop: House progressives want Biden to supersize spending“/Axios/Jonathan Swan/3-26-2021

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