Stocks, Bonds, Real Estate & The Dollar about to Get ‘Vaporized’
The comments below are an edited and abridged synopsis of an article by Quoth the Raven
Andy Schectman, president and owner of Miles Franklin Precious Metals, answers questions on the state of energy markets in the US and the quickly shifting landscape of the global economy, with the BRIC nations banding together and laughing at the West since the sanctions on Russia went into effect several months ago.
Andy discusses the price of oil and America’s response; how the Fed is trapped between a rock and a hard place (inflation and recession) right now; the BRIC nations banding together economically and challenging the US dollar as global reserve currency; and how nearly all traditional assets, including stocks, bonds, real estate and the dollar, may wind up vaporized.
“Inflation is everywhere and gas is just one of the places,” Andy said. “Inflation is rampant. They’ve been pointing to the prices of certain things, but inflation is always a monetary phenomenon. We have not seen peak inflation, but bringing down the price of gas $0.30 or $0.40 is encouraging, but I don’t think it’s anything substantive at all.”
When asked about how the Biden administration was dealing with the issue, Andy said, “I think the strategic oil supply is supposed to be strategic, yet why were they selling so much oil from it to China and Pakistan?”
Regarding inflation, he continued: “I don’t think 9.1% is the peak, not even close to it.”
Speaking about what course of action the Fed will take, Andy said that it is definitely going to pivot, and he lays out how traditional assets could end up being vaporized.