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“Peak Inflation Is Here”- Jim Rickards
Last week Stansberry Investor’s Daniela Cambone interviewed Jim Rickards and got his take on inflation. We think this is a solid interview and Jim makes some good reasonable explanations as to why inflation has done what it has. Rickards puts much of the blame squarely in two places: Supply chain problems, and Biden administration policies.
When asked: Why did used car prices go up? Rickards responded with ‘No new cars were available due to chip issues. People bought used cars.’
His explanation for energy problems is equally sensible. The push into clean energy was too fast and poorly executed. Smart energy companies took advantage of that, as did Russia’s Putin.
The thesis essentially is that money printed isn’t the cause of inflation. The sanitization of the printing via RRP and bond allocations dampen the inflationary effect. For Rickards, the supply chains and Biden Administration fiscal policies are the culprit.
The only area he did not touch upon was rents. That shoe has yet to drop fully. Will it be as easily explained? The other point he makes is the Fed may be raising rates into a recession. Enjoy.
Jim Rickards: We’ve Reached Peak Inflation; The Real Risk in 2022 and Why Cash Is Critical
“Expect inflation to come down very quickly,” due to incoming rate hikes expected from the Federal Reserve, says NYT best-selling author Jim Rickards.
You could see severe, “tightening into weakness,” with a potential of three rate hikes next year, he predicts with our Daniela Cambone during the premiere of this year’s series, Outlook 2022: The Tipping Point.
In order for gold to gain momentum and rise in price, “the dollar has to get weaker,” he says. Having money on the sidelines is vital, according to Rickards, in order to be nimble into the coming year.
…click on the above link to read the rest of the article…
Peter Schiff: ‘The Price Of Gold Is Going To Soar’ And ‘The Dollar WILL Collapse’
Peter Schiff: ‘The Price Of Gold Is Going To Soar’ And ‘The Dollar WILL Collapse’
Peter Schiff recently attended the Vancouver Resource Investment Conference. While he was there, he did an interview with Daniela Cambone of Kitco News and Schiff said gold is going to soar.
But Schiff (who predicted the 2008 recession) also explains why he believes now may be a good opportunity to invest in physical gold. Schiff said that the standard sentiment shared by many is that once the Federal Reserve jacks up interest rates, gold will stay level and unaffected. But that didn’t happen. Schiff said that the yellow metal has surprised the initial expectations that it would fall when the Fed raised rates; gold has climbed 9% since the Fed hiked last month.
Gold has not really rallied. It’s been going up, right? But it’s been creeping higher. Now, everybody expected it to fall. Everybody believed that as soon as the Fed hiked rates, gold’s gonna tank. And it didn’t tank. It rallied. -Peter Schiff
Investors tend to sell the rumor of rate hikes and buy the fact when in reality, the higher interest rates are not bearish for gold. But as Peter points out, that mindset still exists in the market.
But you know, the Fed keeps raising rates a little bit, every once in a while, and everybody still believes that, well, the Fed is raising rates, so that’s bearish for gold. So, everybody expects gold to fall, yet it continues to creep higher. But I think once it overcomes some of this resistance – it has a lot of resistance around $1,350 – and I think if we can decisively move above that and then get above $1,400, just to make sure it’s cleared out, then I think it’s off to the races.
…click on the above link to read the rest of the article…
