🔴 Ed Steer is Buying Physical GOLD As Of Yesterday (here's why)

Ed Steer argues that the roughly $40 trillion U.S. deficit and lack of spending cuts are contributing to a shift from paper assets into hard assets; he also disputes official inflation measures, estimating actual inflation could be at least double what CPI and PPI report. He sees currency debasement as a reason gold and silver have further to rise, though these are his assessments and forecasts.

Ed Steer alleges that commercial traders and large paper-market short positions suppress precious-metals prices, and points to silver’s $57 price, its earlier rise to $120 while silver shares lagged, and 56,000 contracts of volume on a cited down day versus about 150,000 on comparable down days. He characterizes those moves as price intervention rather than ordinary free-market trading; the intervention claim is his allegation, not an independently established fact.

Ed Steer sees central-bank gold buying over the past decade, China’s accumulation over more than 20 years, and gold’s rise from about $500 to $4,100 over 25 years as signs that gold and silver are gradually remonetizing. He says he and others think China may hold more than 20,000 tons, an unconfirmed estimate, and speculates that prices could be much higher without bullion-bank selling.