First is that Warsh knows all about U.S. gold price suppression policy. He volunteered his knowledge to GATA's lawyer in September 2009 during GATA's freedom-of-information litigation for access to the Fed's gold records.
But is the mayhem yet done? Now obviously no one knows for sure if this recent metals’ mania just hit its maximum price point. So ’tis prudent to understand that superlatives such as “Maxed!” can further be “Maxed!”
Looking beyond the charts, it is striking how little has changed in the underlying environment. Inflation remains above target. Fiscal discipline remains elusive. Political risk has not diminished. If anything, the past week has highlighted how quickly expectations can shift when monetary policy, markets and politics intersect.
Chief among the ambitions young people can’t reach is the dream of owning a comfortable home, or in many places even renting one. This isn’t a new problem; Politicians across the spectrum have talked about fixing it for years now. But they haven’t fixed it, and their inability to do so has let it reach crisis level.
