â??The Federal Reserve is not independent!â? — Alan Greenspan
During the weekend, I spoke at the 40th anniversary of the New Orleans Investment Conference and had a great time meeting up with subscribers and signing dozens of copies of â??The Maxims of Wall Streetâ? as gift books. I even took several subscribers out to dinner at Commanderâ??s Palace.
The New Orleans Investment Conference is largely a gold bug convention, with representatives from dozens of small mining companies exhibiting. It has been a tough couple of years. Precious metals topped out in late 2011, when subscribers to my investment newsletter,Â Forecasts & Strategies,Â took profits on our gold and silver exchange-traded funds (ETFs). After that, the mining business has been a disaster.
The fear of rising rates was on the minds of the attendees and speakers. Rising rates mean a strong dollar and more weakness in commodity prices.
I had lunch with former Fed Chairman Alan Greenspan during the New Orleans Investment Conference.
Read more of former Fed Chairman Alan Greenspan’s startling comments at Eagle Daily Investor.