An excellent presentation from Grant Williams laying out why the gold price is languishing despite a wealth of what would ordinarily be positive catalysts. This video does a great job outlining the bullish case for gold and why I believe we will see significantly higher prices in the years ahead. Well worth 28 minutes of your time.
[T]he financial system (including the institutions themselves, products traded, and risks taken) has "gotten away from" the Fed's ability to comprehend. The Fed is primarily responsible for that state of affairs, and it is out of its depth. Former Chairman Greenspan created -- and reveled in -- a cult of personality centered on himself, and in the process created a tremendous and growing moral hazard. By successive bailouts and purporting to understand (to a higher and higher level of expressed confidence) a quickly changing financial system of growing complexity and leverage, he cultivated an ever-increasing (but unjustified) faith in the Fed's apparent ability to fine-tune the American (and, by extension, the world's) economy.Read More