Global markets panicked in response to the Fed’s emergency rate cut, unless you own gold. Plus a look at the road to zero, check this out, intervention most egregious in 40 years and more.
The Road To Zero
March 3 (King World News) – Albert Edwards: “I just had my annual health check. “Not too bad for your age”! As it stands I should be around for the next few days to see US 10y yields fall below 1% and also the next few months to see them fall below 0% and then the 30y T-Bond falling below 0%. After that I give no guarantees.”
Good Luck Next Time
Peter Schiff: “Looks like the Fed’s gonna need a bigger rate cut!”
Check This Out
Teddy Vallée, Founder & CIO of Pervalle Global: Surprise cuts
1987-TODAY: Surprise Rate Cuts
And The Stock Market’s Reaction
LOW RATES ARE NOT STIMULUS
Jeff Snider at Alhambra Partners: “Fed’s emergency 50 bps rate cut is, as always, being called tremendous stimulus and powerful easing. Is it? There’s no evidence that it is even a little bit of easing. But since everyone just repeats the cliche, here we are. Low rates are not, repeat, NOT STIMULUS. They are the signal that “stimulus” doesn’t work. If you have to keep doing something over and over, year after year, is that a sign of success? Nope. Bonds are kind enough to identify the cause, too. Tight money.”…
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You Go Guys
Lorcan Roche Kelly: Powell – “central banks are doing what they seem necessary within their institutional contexts.”
Fed – BIG CUT
BOJ – BUY EVERYTHING
RBA – CUT
PBOC – MASSIVE LIQUIDITY
ECB – Woo! You go guys! Hashtag coordination
Intervention Most Egregious I Have Seen In 40 Years
Lawrence Lepard: “Last week’s intervention in the gold and gold shares markets was one of the most egregious examples of running the stops I have seen in 40 years.”
Got Gold?
Fred Hickey: “A surprise, mid-morning “emergency” half point cut is not enough for the President who stated: U.S. “should have the lowest rate.” Know what the “lowest rate” is?” It”s negative. If you haven’t figured out why you need some gold by now, then…good luck to you.”
Emergency Rate Cut, Dow Plunges 950 But Here’s The Big Surprise
ALSO RELEASED: FED CAVES WITH EMERGENCY 1/2 POINT RATE CUT: Gold Soars $50 While Dow Plunges 950, But Here Is The Big Surprise CLICK HERE TO READ.
One Of The Most Important Interviews Of 2020
***KWN has now released one of the most important audio interviews of 2020 with Michael Oliver discussing the stock market crash and why gold will surprise, and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
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