We caught up with Ned Schmidt of AgriFoodValueView.com and ValueViewGoldReport.com. He sees big moves coming up for the metals. Obviously they’ve made their bottoms and it will be interesting to see what happens now that sellers are disappearing from the market. Perhaps the bigger story is what’s happening in California. The drought is really taking hold. The snow pack this year is just 12 percent of normal. This means that the water supply of 50 cities is running out. Housing and agriculture will suffer. Beef and milk production will face major decreases, which will cause prices to increase or at the very least stay at extremely high levels for the foreseeable future.
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