“We thought the economy faced a pothole and stimulus put a plate over it so we could navigate,” Federal Reserve Bank of Richmond President Thomas Barkin told a webinar hosted by the Centre for Regional Economic Competitiveness on Tuesday. Unsurprisingly, these comments were promptly followed up by a suggestion that the ultimate solution is, wait for it…….more money printing!!!
Naturally, the ‘money printing’ is more accurately described by the propeller-heads as ‘Congressional Support’, which allows the independently owned central banks to transfer responsibility to the government, but either way, it’s another confirming signal that the epic liquidity injections we’ve seen in recent months is only the tip of the iceberg of what is to come. Our suggestions of a coming commodity super-cycle are looking more likely by the day, the JPow’s mega-printer goes..brrrrrrrrrrrr – to infinity and beyond. Our socialist friends and supporters of MMT would be so proud. Read more…..
Chart of the Day
Chris Taylor, Great Bear Resources CEO breaks down gold prices and outlook amid the coronavirus pandemic.