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Fed Never Correctly Predicts Big Downturns – Craig Hemke
By Greg Hunter’s USAWatchdog.com
Financial writer, market analyst and precious metals expert Craig Hemke predicted at the beginning of 2022, “This is going to be a wild, unpredictable year. It will be volatile.” Looks like Hemke was correct. The S&P was off nearly 20%, the tech heavy NASDAQ was down 33% and gold was basically flat. What is the trend for 2023? The Fed says everything is great, but Hemke says, “The Fed has been 0% correct in predicting recessions.” Hemke explains, “The economy is being reported as a great thing and all these new jobs, and the economy is so robust . . . and you just dig a little deeper, it’s in shambles.”
Hemke studies data called “purchasing manager indices,” also known as PMIs. Hemke says all that data points to a falling economy. Hemke says, “There are two companies that put out PMIs, and all of the regional Fed banks . . . all put out their own PMIs. . . . If the measure comes in under 50, that is considered a contracting sector or a contracting part of the economy. . . . The data in December in manufacturing and services are all well below 50. . . . Those PMI’s have a perfect eight for eight track record for predicting a recession. Regardless of the spin . . . the U.S. economy is in deep trouble.”
Hemke says inflation will be coming down, and when it does, look for the Fed to change course on raising interest rates. Hemke thinks this is going to happen shortly before or after summer of 2023. Hemke says, “The Fed is going to say, hey, we did it. We got the rate of inflation below the Fed Funds Rate, and now we can start cutting to save the economy. This is exactly what they have done in the past, and it is exactly what they will do again. When they do it, and the flood gates open again—up go the metals.”
Hemke also talks about the highest gold demand by central banks since 1968; what the most important financial event of 2022 was; why gold will hit $2,300 per ounce and silver will be at $35 per ounce before the end of this year; how f**e gold and silver will cause a spectacular move in metals, and finally, what the common man can do to play this volatile market with a very low risk investment.
There is much more in the 40-minute interview.
Join Greg Hunter of USAWatchdog.com as he goes One-on-One with Craig Hemke of the popular website TFMetalsReport.com 1.17.23.
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