JUBILEE JOLT: DOW DOWN 400, STOCKS SMASHED IN BIGGEST DROP SINCE BREXIT

Jon Alternative Media, Banking, Blogosphere, Economy, Fiscal Policies, Gold, Precious Metals

It was just two days ago that we wrote, ‘Gold Has Biggest One Day Rally Since Brexit as Elites Rush Into Gold’.
Now, to end the week, US stocks had their biggest drop since Brexit on Friday.
The Dow Jones Industrial Average fell 394.46 points, or 2.1%, to 18085.45, and the S&P 500 declined 2.45%, while the Nasdaq Composite lost 2.5%.
The media blamed concern over a potential 0.25% rate hike by the Federal Reserve at the upcoming September 20th-21st meeting.
Federal funds futures, which are used by traders to place bets on central bank policy, on Friday showed a 24% chance of a US interest-rate rise in September, compared with an 18% chance as of Thursday.
Eric Rosengren, President of the Federal Reserve Bank of Boston said Friday that ‘a reasonable case can be made’ for raising interest rates to avoid overheating the economy.
Of course, no one asks, ‘how does an economy overheat’? An economy isn’t a cake. If an economy is ‘overheating’ it would mean that trade is going well, profits are being made and capital accumulated. Why would one want to avoid ‘overheating’ the economy?
Well, the US and other Western monetary systems are run by a communist-style central planning agency that deems it necessary to manipulate interest rates and counterfeit money in response to the perceived ‘overheating’ or ‘cooling’.

This post was published at Dollar Vigilante on SEPTEMBER 9, 2016.