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Brien Lundin: The new, old safe haven
By Brien Lundin
Gold Newsletter / Golden Opportunities
Wednesday, November 9, 2022
It’s been an interesting ride for investors over the past week — and an exhilarating one for gold and silver investors.
First we had the Fed meeting last week, with Fed Chairman Jerome Powell essentially doubling down on his commitment to continue tightening in the fight to rein in inflation with little regard for the consequences.
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In fact, he noted, the Fed always had the tools of renewed easing to repair any damage to the economy or fix whatever they broke in the financial system.
As I put it in an alert to our subscribers at the time, "So, back to the boom-bust roller-coaster ride of managed monetary policy, in which every course correction is an over-steer that leads to the necessity of another."
In reaction to the Fed's hawkishness last Wednesday, U.S. stocks sold off severely, while gold and silver suffered relatively less damage. The next day, gold dropped a bit again, but silver actually rose.
Then came the fireworks.
On Friday gold soared in a fashion that we've rarely seen, leaping $52, or over 3%, while silver catapulted over 7% and the mining stock indices gained over 10%. ...
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Toast to a free gold market
with great GATA-label wine
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Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon --
-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at firstname.lastname@example.org.
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