The definition of inflation, the dollar is losing purchasing power. The question is it temporary or part of a longer term trend, which Gary and I believe to be true. The Fed’s balance sheet is at $8 trillion. The debt is at $30 trillion. Yellen is begging for a debt ceiling increase. Will the US default? Not gonna happen. Fed Chair Powell acknowledged that inflation is higher than expected, we’re on an unsustainable path and there’s good reason for alarm. Therefore, the case for gold becomes more compelling by the day. Today the 10 year yield went down and so did gold, a true anomaly. Federal funds rate hasn’t moved all year and probably won’t until 2023. Where’s the taper, Powell says it’s not gonna happen. 

Direct download: Gary_Wagner_19.Jul.21.mp3
Category:general -- posted at: 8:01am EST

Dow Down 765, we’ve been due for a correction since March 2020. Shortest time in history where the market doubled. 

Technology has brought about a huge evolution. Spreads have diminished. Everything is digitized. High frequency traders have changed the game. It’s made commissions free and has saved investors money. It’s an unsolvable puzzle. If the SEC reverses this policy is could have negative effects. Buy blue chips to hold for the long-run. Gil is a big proponent of ETF’s. Avoiding commingled accounting and annual gains involved with traditional mutual funds is a major benefit. That combined with estate planning benefits can make a huge difference in estate taxes. 

Direct download: Gil_Baumgarten_19.Jul.21.mp3
Category:general -- posted at: 8:00am EST

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