Today four-decade veteran John Hathaway shocked King World News by predicting that we are about to start seeing $100+ up-days in gold. The prolific manager of the Tocqueville Gold Fund also stated that the Fed is close to acting and they are most likely going to do something, “… on a very big scale.” He warned, “… there is nothing worse than having an activist Fed which is ineffectual. That would just destroy confidence.”
Here is what Hathaway had to say: “Hilsenranth, who everybody knows by now is basically a mouthpiece for the Fed, he went quite extensively into what the Fed is thinking about doing, including a round of quantitative easing, putting nominal interest rates to negative levels, and possibly cutting the interest rate on free reserves.”
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