After Powell pulled a 180 from his July FOMC in order to stop “transitory” inflation, markets have fallen sharply. Now there are hints of trouble for the central bankers ahead. Where the heck do we go in October? Host Craig Hemke sits down with legendary natural resource investor Rick Rule to break down all the gold and silver news you need.
In this edition of The Monthly Wrap-Up, you’ll hear:
- Why it’s in your interest for gold to go lower right now
- How this moment is “tailor made” to make money
- Plus: will we ever stop believing in the Fed?
“At least in the U.S. economy, we probably have room to tighten a little more. I don’t know how much more. It’s worthy to note that the 30-year fixed mortgage rate is now over 7. Which means that the 30-year fixed rate has doubled in a year, and we are beginning to see the impact, both in property prices and inventory for sale. Albeit the sellers’ expectations are fairly sticky. But at present, it seems like more of the same in the sense that nominal interest rates are higher in the U.S. than the rest of the world. The action by the Bank of England will take down nominal rates in England, which means that more money will flow out of Britain and into the United States. Hence, at least for a little while, a stronger U.S. dollar.”
To hear Rick’s full thoughts on the month’s gold and silver news, listen here: