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In an emergency move, Federal Reserve cuts interest rates to battle coronavirus
coinpalice
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ok, the fed just cut interest rates 1/2 percent in a emergency move and pm's are showing some strong moves up. so what will gold and silver close out at today?
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Higher (lol).
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
What's more important for gold is what the rate cut will do to equities. If it fails to ignite a Wall St. rally (it's intended purpose) then gold's a lock and there will be rate cuts down to zero. If equities bounce, gold will have trouble holding.
"Money does not care about speeches on morality. Capital asks whether the rules will remain the same tomorrow. With inflation, people assume price is the problem, and propose regulation—but price is simply the message." - Martin Armstrong
Seriously? How does the coronavirus feel about all that?
I knew it would happen.
Pretty soon there will be nothing left to cut. Just another bankrupt casino. Last one out turn out the lights. Congrats!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?
I was just about to borrow money to buy virus , good thing I waited
here is another concern, the dow dropped 600 points even after the rate cut
Um, gold is up $49 all of a sudden? Any news?
I knew it would happen.
Dow off 400 points
its just the start
I am heavy gold, but silver got left out of the party again, it should be up well over a dollar/ounce
S&P down 95 or 3%
DOW down 800 or 3.1%
Gold and silver up 3% each
10-year treasury is at .912%- WOW!!
My defensive portfolio is looking good today
and I think it will continue that way for a while. There is no end in sight for the corona virus and it looks like it is imminently spreading in the U. I expect supply chains and certain economies to stall, pulling the overall world economy down with it. Looks like I'll begin to shop around to see if it is worthwhile to re-finance my already low interest mortgage ( fixed 30 year @ 3.8%) for a better rate. Maybe I'll hold off a few months for even lower rates...
first emergency fed rate hike since 08 crisis.
first half a point rate hike in quite a long time.
Leaves no doubt that the fed's number one mandate is Wall St.
"Money does not care about speeches on morality. Capital asks whether the rules will remain the same tomorrow. With inflation, people assume price is the problem, and propose regulation—but price is simply the message." - Martin Armstrong
rate cut and dollar fall
wall street had the rate cut already priced in on the fed funds market
2 more people just died in Washington state, which brings the total to 9 from corona, dow now down over 900
Coronavirus cases confirmed in 3 New England states amid global outbreak
we need to keep this tied to PMs.
the move in gold seems a lot more tied to the dollar right now and that rate cut. the next fed meeting is in 2 weeks.
also, the dow is not down 900 right now. it's down 710 and was down only 660 at 3:05.
The Fed is in a helluva bind.
The old folks don't need anything and the young folks can't afford to make loan payments.
They just flashed a map on screen that showed a case in NH.
I believe this is likely the result of travel in and throughout Italy, which is a popular destination here in the Northeast, particularly following school vacation week, which was from Feb 16 - 22.
Almost 2 weeks ago now.
My travel plans are by car only, at this point.
probably a pinkerton academy lad
For the children of privilege all that will end soon enough . jetting off to rome with mater and pater isnt going to go much longer
Remember to wash your hands and stop messing with your face.
I knew it would happen.
Cheap money is what it is.
Peter Schiff: They’re Going to Need a Bigger Rate Cut!
"Just like the guy from Jaws, ‘We’re gonna need a bigger boat to catch this shark,’ the Fed is going to need a much bigger rate cut if they want to stop this bear market."
"Money does not care about speeches on morality. Capital asks whether the rules will remain the same tomorrow. With inflation, people assume price is the problem, and propose regulation—but price is simply the message." - Martin Armstrong
https://www.newsmax.com/finance/economy/fed-buying-treasuries-bonds/2019/09/09/id/931785/
Fed Reportedly Buying Treasuries Again: $14B and Counting
the fed is running out of bullets, maybe only 2 or 3 more rate cuts to zero interest, so now they buy treasuries to try to rally the market
Next step, buying the market.
"Money does not care about speeches on morality. Capital asks whether the rules will remain the same tomorrow. With inflation, people assume price is the problem, and propose regulation—but price is simply the message." - Martin Armstrong
yep, if they do another rate cut on the 18th, even a quarter percent, that should propel gold over 1,700, if it's not already there
It is remarkable that our friends at the Fed have not figured out that negative rates are a bad idea. I confidently predicted a while back that 10 year treasuries would not go below 1 percent. I guess I was wrong.
MMT (Magic Money Tree)
"Money does not care about speeches on morality. Capital asks whether the rules will remain the same tomorrow. With inflation, people assume price is the problem, and propose regulation—but price is simply the message." - Martin Armstrong
The days of earning a decently high, effortless, and risk-free rate of return for simple cash deposits are over forever.
Liberty: Parent of Science & Industry
Gregory Mannarino has it right. The Fed is not our friend.
I knew it would happen.
a year after i graduated from college, i put 40,000 in a 2 year cd at the bank for 7 percent interest locked in. once interest rates went below 5 percent, i started investing in gold and never stopped
this is something different, gold was in the red all day and now is in the green, up 8.10 to 1,679
gold has immunity from the virus, dollars do not.
"Money does not care about speeches on morality. Capital asks whether the rules will remain the same tomorrow. With inflation, people assume price is the problem, and propose regulation—but price is simply the message." - Martin Armstrong
I’ll just leave this here for the guys buying colloidal silver 😆:
https://www.foxnews.com/us/new-york-televangelist-jim-bakker-silver-solution-coronavirus
so how will the interest rates fight the virus exactly ? And will it be a pay per view type thing?
Fed will cut again at Mar 17-18 FOMC meeting, gold will spike again, we have a ways to go before USA gets a handle on this CoronaVirus. $1800 + near future for gold not unrealistic. JMHO.
Where's the bailout?
"Money does not care about speeches on morality. Capital asks whether the rules will remain the same tomorrow. With inflation, people assume price is the problem, and propose regulation—but price is simply the message." - Martin Armstrong
Not monkeying around... I just received a link to a live video feed from this morning's PPT meeting. I think there may be some confusion on what, if anything, needs to be done.
The 1.5 $quadrillion in bets on insurance on bets on collateralized debts (derivatives) will once again shatter a decade of FED magic. Since 1999 when banker's successfully lobbied for repeal of the Glass-Steagall Act, the economy has been raped and pillaged by Shadow Banking. And since the turn of the century the FED has been continually hiding the reality and plugging holes like an octopus Dutch boy.
Unlike 2008, the FED has only one, maybe two, tricks left before the music stops this time. Smart guy is already grabbing a chair. I would bet that even Coho is now looking for a seat.
"Money does not care about speeches on morality. Capital asks whether the rules will remain the same tomorrow. With inflation, people assume price is the problem, and propose regulation—but price is simply the message." - Martin Armstrong