Numismatics during economic downturn... 1 1

[VKurtB]

On 7/13/2022 at 3:02 PM, GoldFinger1969 said:

Meanwhile, inflation continues to soar but the dollar is the best house in a lousy neighborhood and this is impacting gold negatively as the Dollar and Euro hit parity.

Even parity with Sterling is looking plausible. All that matters is relative values. Absolute values are meaningless. Gold keeps SLOWLY falling even in a badly inflationary environment. There is no “yardstick” and there hasn’t been one since the Nixon administration. 

Edited July 13, 2022 by VKurtB

[World Colonial]

On 7/13/2022 at 4:36 PM, VKurtB said:

My point is credit is irrelevant. 

Well, I guess we will always disagree.

[World Colonial]

On 7/13/2022 at 4:02 PM, GoldFinger1969 said:

Meanwhile, inflation continues to soar but the dollar is the best house in a lousy neighborhood and this is impacting gold negatively as the Dollar and Euro hit parity.

USD is the cleaning dirty shirt in the room.  As I attempted to explain in an earlier post, gold already rose noticeably until last August and it isn't an inflation hedge like most who buy it for this purpose believe.

[GoldFinger1969]

On 7/13/2022 at 5:47 PM, World Colonial said:

USD is the cleaning dirty shirt in the room.  As I attempted to explain in an earlier post, gold already rose noticeably until last August and it isn't an inflation hedge like most who buy it for this purpose believe.

If inflation was going to gallop for a decade, it would be.  But the market believes the Fed WILL stamp out inflation -- even at the cost of a recession.

We'll see if Jerome Powell is Paul Volcker. 

 

[GoldFinger1969]

On 7/13/2022 at 6:08 PM, GoldFinger1969 said:

If inflation was going to gallop for a decade, it would be.  But the market believes the Fed WILL stamp out inflation -- even at the cost of a recession. We'll see if Jerome Powell is Paul Volcker. 

We'll see if Powell is Volcker or Arthuer Burns tomorrow about 2:30 PM.

Edited December 14, 2022 by GoldFinger1969