By SRSrocco Report,
I got a good laugh from Sven Henrich (northmantrader.com) response in his article Control:
Don’t call it QE they say, but ignore the fact that they are running a program equal in size to the annual US military budget. At $60B that’s exactly what it is. Massive
Fed Chair Jay Powell: The economy is in a good place. Now here’s a $60B per month Treasury bill buying program, multiple rate cuts and daily repo operations. How stupid do they think we are?
If the U.S. economy is in such a GOOD PLACE, then why does the Federal Reserve need to buy $60 billion a month in U.S. Treasuries? And, as the Northman trader stated, the Fed Treasury purchases are equal in size to the U.S. military spending. According to U.S. Government 2020 fiscal budget, the Department of Defense will spend $718 billion this year. Thus, $60 billion multiplied by 12 months is $720 billion.
That puts it all into perspective. The amount of U.S. Treasuries, the Federal Reserve, is buying a month, is approximately the same amount the military is spending. This is nothing more than SMOKE & MIRRORS to keep the sheep asleep.
Even with the Fed lowering interest rates, continuing repo operations until January 2020, and the $60 billion a month in U.S. Treasury purchases, the Dow Jones Index is still trading near the same level it was at the end of 2017. Sure, we could see the Dow spike higher if the U.S.-China trade agreement is successful, but the underlying fundamentals of the U.S. and global economies continue to weaken.
Which means, the reason to own precious metals will only improve as the Fed and central banks lose control of the QE and zero interest rate policy. This is not an IF, but WHEN.
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