Pierre Lassonde: "Mr. Powell has to feel like a porcupine in a balloon factory"

The Fed is in a box.  They have $20 trillion of debt.  They cannot raise interest rates more than 1% or 1 1/2% without putting the economy back in the toilet.  They have nowhere to go.  Mr. Powell has to feel like a porcupine in a balloon factory.  He cannot move.  It doesn't matter because the real rate of interest, which is really what matters to gold, is going to stay deeply negative for the next four years which is exactly what happened in the 1970s...  Gold is going to fly. 

~ Pierre Lassonde, "Pierre Lassonde predicts $200 oil and $2,400 gold in a month as Putin’s war drags out," Kitco News interview, 8:40 mark, February 28, 2022