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SPOOs vs. the Fed = No Contest
Daily Rap 03-03-2014
After not publishing a Rap for the last six sessions, I thought I might take the opportunity to catch people up on my current financial market roadmap. My opinion has been that we have a bit of a game of chicken going on between the stock market bulls and the Fed. The bulls believe that the SPOOs have been climbing higher because the market is correctly (in their eyes) anticipating a self-sustaining recovery, with job creation and all sorts of other fantasy outcomes. The counter view, which I hold, is that the only reason the SPOOs have reached 1,850 is because the Fed printed a trillion dollars last year, which means there is absolutely no way on earth that the Fed can taper and have the stock market stay anywhere near where it has been....more
Last year's posts for Ask Fleck
Q: Hi Bill,
If you already had a "full" position in PAAS, NGD and GDX and were looking to add another mid-large miner to your holdings, which would you consider first at today's prices?
Fleck: AEM or GG.
I am comfortable with the price action on gold but silver looks much weaker. Do you think weakness in silver is holding gold back and will ultimately pull gold down? I.e., can they move pretty much independently?
Fleck: Silver can't really pull gold down.
Q: At about 7:20 Pierre Lassonde emphasizes that central banker spend no time thinking about gold.
Central Banks Spend No Time Thinking About Gold: Pierre Lassonde
Earlier he discusses Germany's logic for slow return of gold from U.S.
more Ask Fleck...