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« A Gold Bloc For Iran, Russia, And Turkey...Oh My! | Main | Greyerz – The Price Of Gold Is About To Skyrocket As We Enter The “Dark Years »
Wednesday
Aug292018

"Inflation Will Run Amok", DiMartino Booth Says "Gold Is The Ultimate Hiding Place"

Danielle DiMartino Booth

Former Fed insider Danielle DiMartino Booth is sure the Fed is going to raise interest rates again at the September meeting.

Why? DiMartino Booth explains, “I think he’s (Jerome Powell) the most independent Fed Chair in the past 30 years, and I think he’s going to raise rates regardless of what is happening in politics..."

"You don’t kowtow to political pressure when you need to do right by the economy... Powell thinks the inflation numbers are under-reported. He’s listening to companies saying their profit margins are being squeezed...

non-labor costs are outpacing labor costs by the greatest extent in three years, and what that tells you is inflation has run amok... I think the Fed is going to continue to raise rates... I think the markets have priced in the (September) rate hike by 90%. We may be looking forward to Jay Powell backing off come December. So, I am not really worried right now about a skyrocketing dollar.”

DiMartino Booth points out the biggest problem the world faces now is record global debt near $250 trillion “that few can conceive a workable solution.” Di Martino Booth says,

“I am no gold bug, but I can tell you gold is the ultimate hiding place. It is the ultimate place to hide when financial markets are disrupted because when financial markets are disrupted, all of them react in tandem. All of that hooey that you need to have a diversified portfolio, all of that falls apart with one exception, and that would be precious metals.”

link..........

 

A September rate hike is a given, but December is not a certainty which may add downward pressure to the Dollar and support gold ...........

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