The Only Thing That Glitters - Andy Schectman #5229

<p><span style="font-weight: 400;">Andy and I get on the podcast today to debrief the flash crash in Gold; 24,000 contracts were dumped and prices drastically went down. This was intended to produce a major shock factor in the market. This makes for an excellent buying opportunity as markets do not always behave this way, and the price will most likely shoot back up again due to the high demand. We talk inflation, debt, and the realization of modern monetary theory—all of which are worth thinking about in the current economic state.</span></p> <p><strong>Notes</strong></p> <p><span style="font-weight: 400;">-Flash crash in Gold - went down $100/oz - has been bouncing around</span></p> <p><span style="font-weight: 400;">-Andy Scheckman - milesfranklin.com</span></p> <p><span style="font-weight: 400;">-What is going on with Gold/Silver?</span></p> <p><span style="font-weight: 400;">-24K + contracts dumped - $4B worth</span></p> <p><span style="font-weight: 400;">-It is a poor idea to dump that many contracts at one time, but it is done for effect</span></p> <p><span style="font-weight: 400;">-There is no more manipulated market than the metals market</span></p> <p><span style="font-weight: 400;">-This is a heck of a buying opportunity because markets don’t behave this way</span></p> <p><span style="font-weight: 400;">-The price is most likely going to shoot back up because of the high demand</span></p> <p><span style="font-weight: 400;">-Month-in, month-out, the big losers are speculators, who do the same thing over and over again and aren’t afraid to lose</span></p> <p><span style="font-weight: 400;">-the government is the one accommodating loser</span></p> <p><span style="font-weight: 400;">-$27 trillion in debt</span></p> <p><span style="font-weight: 400;">-Less workers, high inflation-</span></p> <p><span style="font-weight: 400;">-the only way you can manipulate a market over time is if you push it in the direction it’s moving</span></p> <p><span style="font-weight: 400;">-Bloomberg - gold is going lower becau