The market is hyping up Fed rate hikes again, but let me cut to the chase: the probability of a rate hike is zero.

Every time there's a conflict, oil prices spike first and precious metals stocks get hammered. Only after oil prices cool down does gold truly take off.
The logic is straightforward: when conflict just erupts, everyone scrambles for oil and stocks to cover margin calls, so they have to dump gold for cash. But as time stretches on, U.S. military spending explodes and the national debt balloons to $39 trillion—there's literally no way out except printing money.

U.S. Treasury bonds have become a Ponzi scheme. Holding gold is far more reliable than clutching a constantly depreciating dollar.

Don't buy Powell's tough talk about no rate cuts and rate hikes. Even Trump is calling him out, threatening to lock him up. Once Trump takes office and installs his own guy as Fed chair, rate cuts are a done deal—no shrewd businessman would hire someone working against him.