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Bill Murphy: China’s Currency Addition to SDR Basket a Dud Thus Far; What Would Trump Election Mean for Gold?

The cacophony of voices exaggerating the short-term impact of the Chinese yuan into the IMF SDR basket included pathetic, over-the-top marketing of newsletter writers, even by the otherwise venerable Jim Rickards.  This type of hype is damaging, because it sets unrealistic expectations among stackers and other investors seeking to hedge.  When unrealistic expectations fail to materialize, some individuals abandon their hedge and disavow exposure to the precious metals sector.  The newsletter industry disgusts me, and I no longer care to sugar coat my opinion.   – Eric Dubin, Managing Editor, The News Doctors.  

Yuan’s inclusion in SDR did nothing for gold, GATA chairman notes

TND Guest Contributor:  Chris Powell

Interviewed by Dunagan Kaiser for Reluctant Preppers, GATA Chairman Bill Murphy notes the failure of gold to respond positively to the Chinese yuan’s addition to the International Monetary Fund’s Special Drawing Rights. He adds that he expects that gold and silver will be as tightly controlled as ever in advance of the U.S. presidential election. The interview is 14 minutes long and can be heard at You Tube here:

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About Chris Powell:

chris powell

Mr. Powell has been managing editor of the Journal Inquirer, a daily newspaper in Manchester, Connecticut, since 1974. He serves as the secretary/treasurer and a director of the Gold Anti-Trust Action Committee (GATA). Mr. Powell publishes GATA “dispatches” on stories relevant to the precious metals community: click here to access them and the GATA website. For additional information about precious metals, financial markets and the economy a 2 week free trial to GATA chairman Bill Murphy’s subscription service is available by clicking here.   This article is reprinted on The News Doctors with permission.

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