l wait in anticipation. ***** news feeds that follow gold and...

l wait in anticipation. ***** news feeds that follow gold and Federal Reserve monetary policy almost unanimously predict gold prices continuing to be bullish into 2024. What really caught my attention was an in depth interview with a professor of economics from John Hopkins University who said the Fed's board of govenors really dont know what they are doing. They are totally focused on inflation numbers when they should be focused on money supply which is shrinking dramatically. (sic), the board should have been rate cutting to prevent what is going to be a very hard landing Q1 24. If the fellow is right, the coming recession is going to make 2008 look like a picnic. More US banks exposed to commercial loans are going to topple in the interim.

Physical gold and gold miners should benefit hansomley amid all the carnage.

Admittedly, there have been all manner of predictions about impending financial armagedon and nothing has occurred. My gut feeling is that the global level of debt is unsustainable and that some kind of massive reset is inevitable. The Americans did away with the gold standard under Nixon so that clever Wall Street types could exploit all kinds of dubious financial instruments leveraged a thousand times to anything of real value. They got so audacious you could buy derivatives of gold, paper gold that says you own a bit of the precious metal. That is the first thing that will evaporate overnight and become as worthless as the paper it is written on. The printing of trillions of US dollars as financial stimulus since 2008 never got to the consumer on the street where it was intended to invigorate the economy. The banks collectively invested it in equities largely for their own benefit which explains why US stocks have had such a sustained bull run. The banks never learned anything from Freddy Mac and Fanny May and the current fiasco is a whole lot worse this time around.

Sure glad to be holding Red 5 script and l am in no hurry to be selling them even at 30 cents in the current environment. If the mother of all recessions comes to fruition, then gold could easily run to $3000 US. That would shed a whole new light on the intrinsic value of Red 5 shares. 50 cents, who knows. Sit tight for 12 months.