Gerald Celente Exclusive: “If rates go up too high, the economy goes down, end of story” (Podcast)

Saturday, March 10, 2018
By Paul Martin

BY MONEY METALS
THEDAILYCOIN.ORG
MARCH 10, 2018

Coming up we’ll hear from the one and only Gerald Celente, world-renowned trends forecaster and publisher of the Trends Journal. Gerald parses through all of the major new stories these days and tells us which one is the most important storyline that will affect the stock markets, the economy, and gold. Don’t miss our explosive conversation with Gerald Celente, coming up after this week’s market update.

As President Trump announced controversial new tariffs on foreign steel and aluminum, metals traders discounted any potential impact in the futures markets. Neither base metals nor precious metals futures got any real boost from the tariffs this week.

Gold spot prices currently come in at $1,321 per ounce, down a small fraction of a percent since last Friday’s close. Silver, meanwhile, shows a slight weekly gain to trade at $16.60. The other white metals are trading to the downside this week although just slightly, with platinum down 1.0% to $960 an ounce and palladium off 0.7% to $990.

Whether precious metals markets can transition into a spring rally may depend on which way the U.S. Dollar Index breaks. It has been consolidating in a trading range over the past few weeks since plunging to a 3-year low in January.

Metals bulls are obviously gearing up for another leg lower in the dollar. The long-term fundamentals of the dollar are grim. But it can potentially gain against other troubled fiat currencies such as the euro over any given period.

Central bankers have a variety of tricks up their sleeves to manage currency values. And they all have a vested interest in maintaining confidence in the world’s major fiat currencies. The last thing they want is for one to crash precipitously and drive savings and commerce into crypto-currencies or precious metals.

Unfortunately, a lot of the inner workings of the Federal Reserve are secret. The public isn’t allowed to know what tools monetary planners are deploying and why. Nor can we know for sure how or why the Fed may be intervening in precious metals markets. That’s because Fed officials refuse to submit themselves to a full public audit of their books.

The Fed even has a team of lobbyists dedicated to defeating “Audit the Fed” legislation in Congress. Audit the Fed enjoys overwhelming support in the House of Representatives but has so far been unable to get the 60 votes it needs in the Senate to break through Senator Chuck Schumer’s wall of obstruction.

The Senate’s main champion of Audit the Fed is Rand Paul. This week Senator Paul moved to attach Audit the Fed as an amendment to a major financial reform bill. He expressed optimism that President Trump would sign the bill if he could get it to his desk.

The Rest…HERE

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