According to Craig Hemke a/k/a Turd Ferguson of TFMetalsReport.com, there’s a financial virus (herpes) spreading through the markets. The Fed will be increasing rates later this week, at least there’s a 96% chance and yet longer term rates are sinking and get this, long term Italian bonds are yielding less than Treasuries! How did this happen and what can be done about? Well you only need to look back at all the Fed’s temporary interventions to find the answer. And until the markets start functioning properly again (will they ever) keep your eye on the USD/JPY rates. So goes the Yen, so goes gold, at least for the past 5 years anyway.
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