- Palisades Gold Radio
Tom welcomes Michael Oliver back from Momentum Structural Analysis. Michael believes the movement in gold last week was just the start of another bull run. Silver is in a similar pattern to gold but needs to reach $ 25.37 on a weekly close to trigger a move higher. To subscribe to our newsletter and get notified of new shows, please visit http://palisadesradio.ca
The thirty-year treasuries are the most illiquid and are behaving like gold. These bonds are also the least influenced by the Feds’ actions. There seems to be some money moving to safer assets. Eventually silver will outperform gold. Michael feels we are in a topping pattern for the markets. He details some specific targets on the downside which if reached would break long-term structures. The markets can’t afford a drop beyond a few percent. These momentum structures are likely to be resolved next year. He questions what central banks will do the next time debt structures begin to break down. They are caught in a historic dilemma. We are heading toward a 1970s style stagflation but this time there won’t be a way out.
At the end of the next crisis, we will have to start over. Hopefully, we end up with a new period of stable currencies with a new gold backing. This will be a traumatic period but also one of healing. He particularly likes natural gas and suggests that it can go as high as nine dollars this winter. These high prices will affect everything that industry produces including fertilizer production. Live cattle prices are just now breaking upwards and this is going to impact meat prices. We’re going to see gyrations between inflation and deflation that will surprise most economists. Time Stamp References:
0:00 – Intro
0:32 – Gold & Silver Upturn?
4:56 – Treasuries & Gold
8:10 – Markets & Topping
15:08 – Will Rates Rise?
17:02 – Bitcoin Vs. Gold
19:06 – 1970s Stagflation
21:42 – Currency Replacements
22:41 – Commodity Issues & Energy
26:37 – Energy & Recession
27:26 – Technicals & Time
31:25 – A Flawed Yardstick
34:44 – Momentum Structures
36:48 – Metal Proxies & GDX
39:08 – Wrap Up
Talking Points From This Episode
– Current market conditions and potential for the metals.
– Inflation expectations, the next debt crisis, and how can the Fed respond.
– Commodity markets and energy’s effect on them.