Resource Talks’ Antonio Atanasov sat down with me to try to make sense of the latest central bank and market action. The Powers That Be (TPTB) are moving the goal post from “transitory” to “timely.” Investors seem to believe them—but don’t be fooled. Antonio pushed back with the strong US labor numbers, and rightly so. If the labor market is as strong as TPTB say, the Fed might be able to pull off the mythical “soft landing.” I don’t believe this at all—but I am watching the data in case it proves me wrong. We also talked about the ECB’s hawkish turn, which could reverse the dollar milkshake mechanism, boosting alternatives to the dollar (like gold and silver, not just the euro). We covered China as well, which is “stimulating” again with infrastructure projects that have usually been very good news for commodities prices. But we didn’t just talk theory; we wrapped up with what kinds of resource stocks I’m buying and in which time frames. And for the near term, it’s uranium that remains my highest conviction speculation.
