Don’t count on the Fed raising rates again. Financial writer Bill Holter says, “That’s true rocket science, no more rate hikes. Look what happened with just one rate hike. The wheels are coming off the car with just a quarter of a point hike.”

On gold, Holter says, “If you go back and look at it on a chart, gold and silver began their upward movement right about the time Japan started negative interest rates. The big scare was the Fed is going to tighten. The Fed is going to tighten, which is ridiculous. Even if they tighten 3% or 4%, which they can’t do because they would kill the economy, it’s still not competition for real money. You are looking at a currency that is debasing by that amount per year. Negative interest rates are telling you, you’ve got to get your money out of the banks because it’s a guaranteed loss.” Some of that money is finding its way into precious metals.