Something worrying is going on with the Fed and precious metals. The Fed’s dovish Jackson Hole meeting back in August sowed the seeds for what has become a totally crazy rally in precious metals prices. Last week’s latest rate cut by the Fed - although it was well telegraphed ahead of time - added fuel to the fire. Silver prices are now up 70 percent since Jackson Hole and this rally is spilling over into other precious metals. In the months after Jackson Hole, I spent a lot of time writing about the crazy rally in precious metals. In my mind, this is just one manifestation of the “debasement trade,” which is about ... (full story)