2019 Best Year for Precious Metals Since 2010 – Craig Hemke

Posted at 9:22 AM (CST) by & filed under USAWatchdog.com.

June 9, 2019

By Greg Hunter’s USAWatchdog.com (Early Sunday Release)

Financial writer and precious metals expert Craig Hemke says the reason you are seeing the wild markets and rising gold prices is all attributed to the Fed. It is in a horrible position. Hemke explains, “I don’t think ‘panicked’ is the right word because that means they are running around with their hair on fire terrified. I think they realize the corner into which they painted themselves. They are trying to mitigate the damage as much as they can. . . . The smartest thing the Fed can do right now at the next Fed meeting (June 18 & 19) is to cut the Fed Funds Rate by 50 basis points. They could at least kind of get the yield curve flat again, and not leave it so it looks like you are definitely headed into a recession. (Fed Head) Powell is not going to do that because it will look like he’s doing what Trump is telling him to do. . . .He’s probably going to cut by a quarter point. . . . There is also a pretty good chance he does nothing. . . . The reason why interest rates all along that curve are going lower and lower is because money all around the world sees we all are headed into a recession.”

Hemke says confidence in central banks is going to crash right along with the global economy. Hemke contends, “Now, this next time when the economy crashes, which it will inevitably will, they’ll be exposed for the charlatans that they are, stringing everybody along, pretending like they’ve got it under control, confidence in the central bank is going to crash. This means confidence in fiat currency is going to crash, and the only real alternative to fiat currency is sound money and that’s gold. That’s the first big part of why it’s different this time. The other big part is just the math. We are up to $22 trillion in debt versus $10 trillion back in 2009. . . . The deficit through 2029 is $1 trillion a year, and that is under a forecast of 3% economic growth. You are not going to get 3% economic growth. When it’s 1% or 0%, then your tax receipts fall dramatically. Then your deficit explodes.”