The Greatest Depression evah will take care of that shit

 At record highs copper is the new oil

On the heels of record highs in Iron Ore and Steel earlier this week, as commodity demand soars on the back of economies emerging from COVID lockdowns (demand) and various supply chain/operational issues (supply); copper prices surged to an all-time high this morning as Chinese investors unleashed fresh demand following a five-day holiday.

I predict it will happen this year.

Counter intuitive economics never works.

When the Fed raises the interest rate will be the beginning.

The rate hike will have to happen the question is when and when does it stop.

Whispers about just this thing have been making the rounds making easy money worshipers very nervous. 

Janet Yellen outright said rates will have to rise and the worshipers had a fit.

So of course she walked it back.

It won't stop it though it's the only play they got.

But what do I know.

I'm never right.

We should look to the experts on these things.

Have they ever led us astray?

You ever wonder why gold isn't at record highs?

I don't they beat gold down like a red headed stepchild with the old re-hypothecation trick.

You can't re-hypothecate copper it gets used.

What will happen when everybody wants to trade paper gold for physical gold? 

Nothing good I'm sure of that.

“If the debt which the banking companies owe be a blessing to anybody, it is to themselves alone, who are realizing a solid interest of eight or ten per cent on it. As to the public, these companies have banished all our gold and silver medium, which, before their institution, we had without interest, which never could have perished in our hands, and would have been our salvation now in the hour of war; instead of which they have given us two hundred million of froth and bubble, on which we are to pay them heavy interest, until it shall vanish into air… We are warranted, then, in affirming that this parody on the principle of ‘a public debt being a public blessing,’ and its mutation into the blessing of private instead of public debts, is as ridiculous as the original principle itself. In both cases, the truth is, that capital may be produced by industry, and accumulated by economy; but jugglers only will propose to create it by legerdemain tricks with paper.” –Thomas Jefferson to John W. Eppes, 1813.

That is all.