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King Report: At some point 'they' will pound gold into a buying opportunity

Section: Daily Dispatches

From The King Report
Burr Ridge, Illinois
Tuesday, July 28, 2020
http://thekingreport.com/

The big story of Monday: The dollar plunged; gold, silver, and bitcoin soared while banks sank. Momentum buyers are now jiggy on gold and silver -- and there is little that the Fed can do to halt the surge.

However, anyone who has been around the block a few times with gold knows that at some point "they" will stage a concerted effort to drive gold lower. This will be an opportunity to buy -- unless governments do a 180 on fiscal policy and central bankers miraculously find some restraint.

... Dispatch continues below ...



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Bottom line: The market is now in open revolt against U.S. fiscal profligacy and Fed promiscuity. As long as gold is tame, politicians can buy voters with socialistic benefits and central banks can paper over the massive deficits and unserviceable debt. This is why Keynesians, big-government types, and socialists despise gold. The barbarous metal can become a restraint on promiscuous fiscal and monetary policies.

Once gold gets a-rippin’, market and public psychology on inflation, the dollar, deficits, central bank promiscuity, and even societal issues turns for the worse. And it takes beaucoup discomfort to halt gold and change the foreboding psychology.

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