The infamous "line" from the Hollywood classic "Animal House", when freshman Delta pledge "Flounder" walks into a smokey room with frat brothers sitting around several poker tables and cluelessly asks … "Are you guys playing cards?"
Today, Greg asks that question of the Fed … using the Fed meeting Minutes from the June Central Bank pow-wow as the likely answer, and then delves into the intricacies and nuance of high stakes poker, the kind of game global Central Banks are now "playing" in terms of when to "fold" their hawkish rate-hiking "hand". Indeed, an end to tightening campaigns AND a move back to CUTS in Policy Rates is a trend that is already emerging in Asia where inflation has COLLAPSED in several key countries.
Moreover, the US labor market data last Friday revealed forward "tells" that suggest the END is NEAR for employment growth … and this puts the US Dollar back "into play" … which in turn puts the Commodities, Bonds, and even the Stock market back on the table, in terms of owning non-dollar assets. This approach would also include having "long exposure" to Gold, the Mining Share ETFs, and, though Greg forgot to mention it, Bitcoin and Ethereum too.
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