Gold is breaking over 2 thousand an ounce.

Thanks for the best economy in 100 years, Joe.

Categories: economics


It's just Boris · March 24, 2023 at 9:09 am

Inflation fears? Banking concerns? Economic woes? Taking all bets!

Seriously … Interesting especially given other platinum group metals (Pt, Pd) don’t seem to be tracking.

neomunitor · March 24, 2023 at 10:11 am

Silver came up some, but is nowhere near what it should be given where gold is. But Yellen has convened an emergency meeting to discuss stabilizing the banks after Deutsche Bank is seeing CDS pressure and investors are dumping AT1 bonds. If some kind of universal depositor coverage is declared, we can expect inflation to rocket, commodities to take off, and the USD to have real problems within a year. But that’s in the future, so not the problem of the day.

Bob T · March 24, 2023 at 12:45 pm

FEAR. fear is a stronger emotion than greed fear of a banking collapse it is a self full filling cycle

Zarba · March 24, 2023 at 2:46 pm

Every major bank is only a few days from failing if there’s a run on deposits and investors bailing. They simply don’t have enough ready liquidity to cover. Their balance sheets are so highly leveraged that they can’t get out.

Golden Rule · March 24, 2023 at 4:51 pm

The guy with the gold in his sacks will always make the rules.
Control the money and you control the world as a Bolshevik bankster rat once said.
We need a Ramones update with hey ho let’s go Brandon bop.
No one can burn it all down better.

Steve · March 24, 2023 at 10:41 pm

Platinum is no surprise. A major use of it is catalytic converters. Now much do you need when they phase out the internal combustion engine.

Palladium, same-same. EVs beat out fuel-cell vehicles.

Silver is still a bit strange, IMO. I was really expecting solar cells to need enough of the stuff that it would quickly recover to 40 and keep going up from there, but there must be more trade secret technology that I don’t know about. Either that or they intend to leave the hoi polloi without cars, without power, without food, etc…

Aesop · March 28, 2023 at 5:51 am

And the financial geniuses offended by suggestions that possession of physical gold and silver were a good idea, and who took umbrage at anyone pointing out that fiatbux are currency, not money, are suddenly nowhere to be heard from.
Shocked am I.

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