Many people have high hopes for the month of August, that perhaps this may be the month gold & silver finally begin to rally?
(by Half Dollar) To nobody’s surprise, gold finds itself slightly over $1800 and silver between $25 and $26 as we begin the month.
Regardless, aside from the Zombie Apocalypse worsening, if that was even possible, the hurdles for gold & silver begin this very week with an important hurdle in the latest Employment Situation Report, commonly called the “jobs report”, this Friday.
Recall that just last week, during his post-FOMC press conference, Fed Chair Powell basically said the Fed is putting more emphasis on the jobs recovery than the Fed is putting on inflation.
Of course, that’s because it’s so much easier to whip-up some phony jobs numbers and play make-believe than it is to continue to try to lie about price inflation which anybody not on the Federal government’s dole or payroll feels the sting of every single day, and if it turns out that the month of July wasn’t quite as strong as everybody thought it was going to be, well now, among having Built Back To Make America Even Greater, Biden is going to give a sweet job to anybody who wants one, so there’s that too.
In other news, we’re closer and closer to the so-called “infrastructure” deal:
That’s code for “printing up a bunch of money and giving it all to yourself and your bestest buddies in Washington and on Wall Street”.
Either way, it would be funny if it was a “sell the news” event:
Besides, does anybody really think the infrastructure deal is not priced in?
Nevertheless, it’s a good thing we can lock in those low rates:
Not that the “debt” will ever be paid back.
It’s more like the US dollar as we know it coming to its end:
Before we go back to gold & silver, as we always do, what comes next is going to be downright awful.
The Brainwashed Masses, the Walmart Zombies and the Sheeple will have to learn the true price of things again:
Indeed, just like with the actual transitory nature of our current hyperinflation, the socio-economic collapse of America will be transitory, but for the vast majority of Americans, the pain will last forever.
I read an article last week about thieves stealing 22 air conditioning units from brand new “low income” housing:
Apparently, it’s going to cost $80,000 to replace the 22 small units.
Let that sink in for a moment.
Speaking of sinking:
Do the technicals matter?
Palladium is not to be looked at for directional clues right now:
That could change by the end of the week, however.
I maintain that we still have not seen the capitulation in silver:
How quickly people forget about just how low morale can go.
Additionally, there hasn’t been much negative sentiment since every Chart Hugger out there thinks gold hit its ultimate bottom around $1670:
Although the last time I checked, it was gold and silver, not gold or silver.
On Friday, I suggested we might have to dial back our expectations:
As I scan the “news” this morning, it seems as if I was overly optimistic in that article, so we may just have to dial them back even more.
Thanks for reading.
Paul “Half Dollar” Eberhart