Despite face-ripping countertrend rallies in the Dow, today Stephanie Pomboy said we are in for a world of pain and the bursting of the credit bubble will still be raining down upon us. Plus this is why gold stays bid.
Gold Stays Bid
March 26 (King World News) – Ole Hansen, Head of Commodity Strategy at Saxo Bank: “Gold stays bid following the dismal US jobless number. Support also being provided by 10-yr real yields as they continue lower to -0.3% after hitting +0.65% last week (see below).
Negative 10-Year Real Yields Supporting Gold
The Economic Crisis Follows
Peter Schiff: “If you think what’s happing now is the economic crisis, you’re wrong. This is the health crisis. The economic crisis is the one that follows, and will result from the fiscal and monetary cure. The crisis will not just be worse than the Great Recession, but the Great Depression!”…
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We’re In For A World Of Pain
Steph Pomboy: “I’ll say it again: I think the timeline on the Covid-19 eco shutdown is going to prove far shorter than the dire predictions suggest. I’m bracing myself for a face-ripping rally. To be clear…the rally is to be SOLD because COVID-19 is just the thing that pricked the bubble. When it ends, the financial fallout from the bursting of the credit bubble will still be raining down upon us. And it ain’t gonna be pretty. Trust me. I’m not suggesting everything’s fine. I’m just sayin’ I believe the coronavirus phase of the cycle is nearing its peak. THEN we will deal with the financial fallout of the financial deleveraging. THAT will be a much deeper, longer and unpleasant slog.”
Jaw-Dropping Spike And Collapse
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