AAAU - Gold Smashes Will End When Inflation Wrests Control Of The Narrative From Taper Talk

• Whenever we get news that increases chances of a taper from the Fed, gold and silver get smashed. The jobs report Friday accomplished that, double-bottoming gold at $1,677.
• Back on August 2, Fed Governor Waller said that a good jobs report could mean taper announcement by September, so that's what markets now expect.
• Except, price inflation will keep raging regardless of any Fed taper. Rents are about to explode, shipping prices are still rising vertically, and car inventories are at record lows.
• When markets finally understand that CPI inflation will keep rising regardless of what the Fed does, smashes of gold and silver on tighter monetary policy news could become impossible.
• Instead of being led by traders trying to front-run monetary policy, price inflation will be the leading factor, forcing the Fed to chase as we saw from 1977-1980, or for the Fed to just give up.

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