What does it mean that gold keeps going up?
The dollar lost 20% of its value since Biden took office, along with increased chaos in the world. Do you want to put your savings in dollars or gold? Pretty much any hard asset, including real estate and collectables should fare better than a CD or savings account. The same principle works for countries; they are stocking up on gold.
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I think the Fed is going to just keep printing money to cover all this government overspending. Inflating the money supply is inflation.
The Fed has no choice in the matter. They have to buy the government debt with manufactured dollars if the public and other countries do not buy it all. The root cause is the over-spending by the government, which, with current interest rates, is spiraling out-of-control.
Hopefully gets taken down.
The Fed is not the problem.
As long as they refuse to say “no.” The reason they are supposedly independent is so that they can tell Congress “No, we don’t have the money.” The gold standard used to do that for them.
My guess is with the Fed declaring inflation tamed the high for this cycle might near, I was going to sell some @2,500 and it blew right past, so I have moved to wait-&-see mode for now.
Despite the Fed’s aggressive action on Wednesday, the central bank’s inflation battle, in the face of immense pressure from Wall Street and politicians, seems to be paying off so far: Inflation is substantially below the 40-year highs seen in the summer of 2022 — all without a recession. The momentous progress seen since then isn’t solely due to higher interest rates, but also because of the US economy’s gradual recovery from severe pandemic disruptions.