May 5, 2023
“The attitude of market people in the U.S. is kind of like wanting your house to burn down so that you can get the insurance money,” says E.B. Tucker, bestselling author of Why Gold, Why Now? He argues that while people may take the Fed’s eventual slowdown on raising interest rates as a positive sign, it indicates a looming recession that will result in people losing their jobs, businesses failing, and everybody spending their savings. “There’s a lot of pain and discomfort... People are not feeling pain yet,” he warns. Tucker concludes we’re living in a “centrally controlled system,” highlighting that Treasury bills still a provide safety net for investors regardless of the massive debt issue in the U.S.
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