GOLD: $2,400 is the New $2,000

Gold surged past the $2,400 mark yesterday, a notable event as the CPI indicated some deflation. July 12, 2024 [WEBSITE]( | [UNSUBSCRIBE]( GOLD: $2,400 is the New $2,000 SEAN RING Dear Reader, I remember the pain of trying to break through $2,000 and stay there. The first time was in 2020, when gold briefly broke $2,000. The same thing happened in 2022. In early 2023, we had a couple of months above $2,000, but it broke our hearts again. Finally, in the last quarter of 2023, that $2,000 resistance line turned into support – what technical analysts call a “reverse of polarity” – and we’ve stayed above $2,000 since. After yesterday's soft CPI number, can $2,400 be the new line in the sand? Let’s see. The Positively Gooey CPI Number Inflation, inflation, inflation. It’s the one thing you don’t need to know anything about to understand completely. Rising prices are a pain for us all, but especially for lower-income families, who spend a far greater share of their wallets on food, shelter, and gas than wealthier folks. Any government must get inflation under control, lest they have a revolution! If you think I’m exaggerating, recall the Arab Spring a dozen years ago. No pita bread meant new governments. For a less intense example, think of how much trouble Joke Biden faces today. George Clooney and the rest of Hollywood abandoned Biden not because of his inability to discharge his duties or near-constant gaffing, but because they know he cannot beat Trump in November. Why is that? There was barely any inflation at all under The Bad Orange Man. To wit, [this hilarious clip]( is making its way around the X-verse. In it, a stoner revisits a Walmart order he placed four years ago. The entire month’s worth of groceries cost him $127. He then hits the reorder button, and the same basket costs $414 today. The look of shocked incredulity will send you into fits of laughter… until you realize he’s playing with real money. Or, at least, government money. What does this have to do with $2,400 gold? Follow me. Will Powell Finally Cut? The CPI number yesterday didn’t just come in lower. It came in negative. And that means we didn’t just have disinflation, but deflation. Yes, on average, prices dropped (if you believe the government’s numbers). And, of course, Wall Street believes anything that comes out of Washington… just because. Let’s unpack that. The CPI is the Consumer Price Index. To measure it, we take a basket of goods and calculate its price every month, with adjustments. The difference between the prices is the change in the CPI. Prices almost always increase because governments want you to spend money now rather than later. In what John Maynard Keynes called “the paradox of thrift,” Keynes believed that saving money may be good for you but not for your country. Unfortunately, his acolytes, who infest every level of government and central banking, believe the same nonsense. June’s numbers—the ones that came out yesterday—were lower than expectations, which sent Wall Street into a tizzy. The Dow was flat; the SPX was down 0.88%; Nazzie fell out of bed to the tune of -1.95%. But if you lift the hood, things weren’t all bad, especially for gold and gold miners. [Buy this Sub-$5 Play on Elon Musk’s Final Masterpiece]( After revolutionizing space exploration and the auto industry… Elon Musk is now planning to revolutionize MONEY with this new venture. [See the details because once Elon flips the switch…]( Which could happen in the next 24 hours… It could send [this sub-$5 play skyrocketing in the coming months.]( [Click Here To Learn More]( A Lower Dollar Means Higher Gold Gold futures finished the day at $2,421.90, a gain of 1.77%, after popping over $42. As for the miners, here are my guys: As you can see, it was a great day. Only HBM and SBSW had bad days. Editor’s Note: NNE and ASTS are two of my friend and colleague Ray Blanco’s excellent picks. We just shot a YouTube video for the Paradigm Press channel. I’ll let you know when it’s up. You’ll be positively shocked at the numbers Ray and I throw around from his eagle-eyed choices. As for PLTR, it deserved a day’s breather after its recent run. PLTR was my Whisk(e)y Bar pick last October in Las Vegas. It’s up 85.5% since I made that pick. Rick Rule’s pick was OGN.V, which I own; that’s up 78% since Las Vegas, though I stupidly waited too long to buy it!) Why did this happen? Because the market believes Powell will cut a few times this year. And now I get to say it: Jay Powell should’ve listened to me. Powell Should’ve Cut in June I know. I was wrong. He didn’t cut. And it sounds like sour grapes. But let me ask you this: When Powell finally takes his scissors out, will the next cut look like anything other than a political move? If he had cut in June, Biden’s appalling debate performance would be less relevant. His stuttering press conference at the NATO gathering would’ve meant less. If Powell had already cut, the markets would be a touch higher (especially gold), and the Fed would be left out of any further discussion other than the market asking, like Oliver Twist, “Please, Sir, can I have some more?” Because that’s what the market does. Now, the Fed will cut at least once, but up to three times before the end of the year. It’s insane. [Gary Wagner of]( News]( Many analysts, including the author, believe that another positive inflation report in August could prompt the Fed to ease its restrictive monetary policy with at least two, possibly three, rate cuts this year. This aligns more closely with the Fed officials' projections from the March FOMC meeting, which anticipated three rate cuts in 2023. The most recent "dot plot," however, had scaled back expectations to one or two cuts. Had Powell pulled the trigger in June, this conversation wouldn’t be happening. But as always, central banks move too late and, then, too fast. And this leads me to believe that $2,400 is the new support level for gold. Wrap Up If Powell cuts once, it’ll send gold soaring. But two or three cuts? We’re getting into nosebleed territory. Softer inflation gives the Fed the elbow room to cut rates, goose the market before the election, and ease pressure on its vulnerable banks. Whatever happens, if you already own gold, I congratulate you. If you don’t, what are you waiting for? Have a wonderful weekend! All the best, Sean Ring Editor, Rude Awakening X (formerly Twitter): [@seaniechaos]( Rate this email Like Dislike Thanks for rating this content! Looks like something went wrong. Please try to rate again. In Case You Missed It… It’s 7 am. Who’s Running America Right Now? SEAN RING The House Oversight Committee has issued subpoenas to three top White House aides to find out who’s actually running the country right now. Because even [George Clooney believes it’s time for Biden to step aside](. And if George Clooney thinks that, then it must be true. Of course, [The Donald had to jump in on]( Social]( So now fake movie actor George Clooney, who never came close to making a great movie, is getting into the act. He's turned on Crooked Joe like the rats they both are. What does Clooney know about anything? He uses the Democrat 'talking point' that Biden, the WORST President in the history of the United States, has 'saved our Democracy.' It’s all too much. The Democrats are indeed like rats on a sinking ship. With that said, Good Night and Good Luck is a fabulous movie. However, how Clooney received the Kennedy Center Honor for his career is beyond me. Well, it helps to be a sycophantic leftist in a leftist’s administration, of course. All this shits me to tears because Biden has been losing it for decades and never, ever should have darkened the door of the Oval Office. Of course, Clooney supports his team like the other Hollywood Air Heads. A more critical question is, “Where was Congress when Potatohead Biden set the world on fire?” How can you cover up his mental dullness for three and a half years? Biden has been about as sharp as a marble! Let’s get back to the pertinent question: who’s running America right now? Bureaucracies and Their Momentum A bureaucracy is a system of administration with a hierarchical structure, a clear division of labor, rules, and regulations, and an impersonal approach to decision-making. For some reason, Max Weber, a prominent sociologist, thought bureaucracy was a rational and efficient organization essential for managing complex societies. I disagree with Weber because bureaucracy’s costs far outweigh its benefits. In government, bureaucracy is supposed to ensure that policies are implemented consistently and services are delivered uniformly across different regions and populations. However, a bureaucracy's efficiency is also its Achilles' heel. The structures that should enable systematic and predictable administration lead to rigidity and resistance to change. This is where the concept of momentum comes into play. Momentum in government refers to the drive and speed with which policies and reforms are enacted and implemented. A government with high momentum is proactive, rapidly adapting to new challenges and opportunities. In contrast, a government with low momentum becomes sluggish, bogged down by procedural red tape and an aversion to risk. Unfortunately, momentum, whether high or low, takes on a life of its own. And that’s what ultimately runs a country – not the politicians themselves. So the answer to the question, “Who’s running America?” isn’t the President, but the globular Leviathan itself! According to [Axios]( Driving the news: Oversight chair James Comer (R-Ky.) subpoenaed First Lady Jill Biden's top aide Anthony Bernal, deputy chief of staff Annie Tomasini, and senior adviser Ashley Williams, according to the letters. All three are low-profile but very influential inside the White House, Biden officials have told Axios. Comer asked for the aides to respond by July 17 and requested they sit for closed-door interviews later this month. He also cited a recent Axios report about Bernal and Tomasini having access to the first family's residence — a situation that White House residence staff found unusual since political staffers often don't have such access. What they're saying: In each letter, Comer writes that the committee is "concerned" that each official is "one of several White House staffers who have taken it upon themselves to run the country while the President cannot." The ghost of Edith Wilson just sat up! But it’s not just the aides that make this work. It’s the idiots, too! [Bloomberg: “Elon Musk Will Become a Trillionaire With [This Company]”]( As soon as December, Elon Musk could take yet another company public… One that could instantly become the biggest IPO in U.S. History… AND make Elon the world’s first trillionaire in one single move. But it won’t just be good for Elon… Because technology analyst Ray Blanco discovered another company… One that could be a hidden “backdoor” way to profit thanks to the ‘trillionaire-making’ company Elon is building right now. [Click Here For The Full Story]( Useful Idiots Like Clooney I don’t mean to question Clooney’s IQ, though anyone who voted for Biden should take a Mensa test just for a big laugh. However, Clooney was undoubtedly a “useful idiot,” according to Stalin’s definition of the term. A “useful idiot” is an individual who, without realizing it, furthers the goals of a cause or ideology that ultimately undermines their interests or values. The term gained popularity during the Cold War to describe Westerners who supported Soviet policies, often without fully understanding or acknowledging the oppressive nature of the Soviet regime. Uncle Joe Stalin, the leader of the Soviet Union from the mid-1920s until he died in 1953, leveraged "useful idiots" in the West. Stalin's regime invested heavily in propaganda efforts aimed at the West. This included cultural exchanges, the dissemination of pro-Soviet literature, and funding organizations and publications promoting a favorable view of Soviet policies. Westerners who fell for this propaganda were considered "useful idiots." Many of these individuals were motivated by ideals such as anti-fascism, anti-imperialism, and the desire for social justice. Sound familiar? Stalin cleverly framed Soviet policies as aligning with these ideals, thus especially attracting Western intellectuals who downplayed the repressive aspects of Stalinist policies, such as purges, forced collectivization, and the Gulag system. Stalin's regime also manipulated influential Western figures, like writers, artists, and political activists. These individuals were often invited to the Soviet Union, given carefully curated tours, and subjected to intense propaganda. Upon returning home, they would write glowing reports about the Soviet experiment, inadvertently serving Soviet interests. The most prominent example of a “useful idiot” is American journalist Walter Duranty, whose reporting from Moscow for The New York Times downplayed the severity of the Ukrainian famine (Holodomor), misleading public opinion about the true nature of Stalin's policies. As Nietzche might have said, “Useful idiots muddy the waters to make them seem deep.” Wrap Up The White House’s lights are on, but the President isn’t home. The Leviathan, which is the US government, runs itself (potentially into the ground). Useful idiots like George Clooney have spent the last four years covering up for Joke Biden. The House of Cards is tumbling down. Will Kamala Harris take his place? If the Democrats enact the 25th Amendment, does that mean he wasn’t ever fit to be President? If the Democrats leave Biden to run, will that mean disaster at the polling station? Stalin also said, "It's not the people who vote that count. It's the people who count the votes." I’ll believe a Trump win when Rachel Maddow cries into my television screen. All the best, Sean Ring Editor, Rude Awakening Twitter: [@seaniechaos]( ☰ ⊗ [ARCHIVE]( [ABOUT]( [Contact Us]( © 2024 Paradigm Press, LLC. 1001 Cathedral Street, Baltimore, MD 21201. By submitting your email address, you consent to Paradigm Press, LLC. delivering daily email issues and advertisements. To end your Rude Awakening e-mail subscription and associated external offers sent from Rude Awakening, feel free to [click here.]( Please note: the mailbox associated with this email address is not monitored, so do not reply to this message. We welcome comments or suggestions at feedback@rudeawakening.info. This address is for feedback only. For questions about your account or to speak with customer service, [contact us here]( or call (844)-731-0984. 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