The ECB, Literally Going Off the Rails

by Andrew Hoffman
Miles Franklin

First, I’m going to explain something I’ve learned from watching Precious Metal markets, tick for tick, for the past 14½ years – back to times when the dissolution of the Euro, hyperinflation, or a collapse of the global banking system weren’t even considered, much less a strong possibility. Back then, financial markets were, by my estimation, roughly 60% “freely traded” – but significantly less so for Precious Metals; compared to, perhaps, 25% today, on all fronts. To that end, I have not only compiled reams of empirical data about market movements, but practical experience of what drove them. Which is why I respectfully disagree with one of our industry’s best analysts, regarding his view of drives markets today – i.e., Central banks algorithms, causing the HFT computers that comprise more than 80% of trading to move them like puppets on a string.

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