Hello fellow rebel capitalists hope you're well so we all know the argument for interest rates going down that's my base case

You go the yield curves with the bond market is predicting we're most likely gonna have a hard landing where the Fed is going to have to drop interest rates.

Who knows? They might even have to drop them back down to zero and that takes the whole curve down,

even the 10 year and the 30 year. But there is other reasons why I think interest rates will go down in the future.

And it's very basic. In fact, I think one of the main reasons they'll go down is because central bankers

are always wrong. Check this out. Let's go over to a story from CNBC,

and you'll see exactly what I'm referring to.

Title Bank of England bond sales

creating a selling gold at the bottom moment,

according to strategist. Now, I didn't even realize the Bank of

England did this back in the late 90s but you guys I'm sure are our fans of gold

just like I am so you kind of remember that prior to a late or excuse me

prior to early 2000s in that commodity super cycle gold was just getting pummeled. I mean from 1980 to let's just call it 1999 or so,

gold was basically straight down.

And actually Josh, if you can do me a favor

while I'm talking, if you could pull up a chart of the price of gold, just nominal price is fine, just going back to like the 1970s to the day's date.

And I want to show the viewer exactly what I'm referring to.

But according to this article, what happened is right at the bottom

when gold was like, let's say $200 an ounce or something like that.

The Bank of England sold like 400 tons because they thought that gold was going to zero and

no one's ever going to want it again and oh that's just what did Keynes call it, just a barbarous, a barbaric relic or maybe a

Krugman called it that or something. And so this was the idea and of course as soon as they sell that 400 metric tons of gold was the price do.

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