Gold price rising again as US-China trade war heats up
Gold price rising again as US-China trade war heats up by Liam Sheasby for Bullion By Post
TDC Note – Given the fact that we – you and I – know who and what the Federal Reserve is and, more importantly, what they have done to this nation, to our world and how they have stripped wealth from millions, if not billions of people, President Trump is asking a fair question. It’s this type of question that supports the idea of holding – in my hot-little-hand – physical gold and physical silver. This is how I give Chairman Xi and Chairman Powell the finger and tell them both to rot in hell.
After a calm week for investors, this afternoon has seen a flurry of movement centred around the US-China trade war. Stock markets had recovered the majority of their recent losses this week, as tensions between China and the United States looked to have eased slightly.
All eyes were on this afternoon’s speech by Federal Reserve chair Jerome Powell, but China jumped in just before US markets opened, with a batch of tariffs on $75 billion of American goods. Markets reacted slightly, and seemed reassured by Powell’s speech.
The Fed chair stated that the US economy remained ‘largely favourable’ but was at risk from a number of factors: the newly announced Chinese tariffs, economic slowdown in Germany, growing possibility of no-deal Brexit, and rising tensions in Hong Kong. Powell’s confidence kept investors happy, but the calm was short-lived.
It wasn’t long before President Donald Trump took to Twitter, continuing his longstanding criticism of the Fed and going so far as to question whether Powell or Chinese President Xi Jinping was the greater enemy to the US economy.
….My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?
— Donald J. Trump (@realDonaldTrump) August 23, 2019