Don Durrett: When Bonds Break, Gold Explodes

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**Don Durrett** (1:27)
The Fed says that they have a dual mandate of stable prices and full employment.
That's baloney. They're not trying to get inflation down to 2%. They can't. They're trying to make sure that basically the whole thing doesn't burn to the ground. The only reason I own gold and silver is because of the weakness in the US bond market.

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**Don Durrett** (2:30)
The Fed says that they have a dual mandate of stable prices and full employment. That's baloney.
Those two mandates are out the window. When they sit down, now when they have a Fed meeting, that Fed meeting is only about one thing.

**Trey Reik** (2:48)
Liquidity.

**Don Durrett** (2:50)
Liquidity is one thing, but that's not the underlined thing. All right. The underlined thing is stability.
Stability. Ensuring that the stock market doesn't crash and the bond market doesn't crash. It's not ensuring price stability, ensuring full employment. It's manipulating the market so it doesn't crash. That's the elephant in the room. When they sit down, it's like, okay, what are we going to do to make sure this thing doesn't, the last Jenga peg doesn't come out? Right? They've put transition. And the thing is, my point here is that they're not transparent. When they do these meetings, when the Fed comes in, you know, and the Fed speak and all these guys, they don't talk about stability. They can't scare the hell out of people. So basically, they can't be transparent. They can't talk about what they're truly thinking, what they're truly trying to do. They're not trying to get inflation down to 2%. That's, they can't. They're not trying to get 2%.
They're trying to make sure that basically the whole thing doesn't burn to the ground. And if we lose inflation, we lose inflation. And so it's all about stability, which is insanity. So stability is basically a recipe for disaster. Eventually, the last Jenga Pag is coming out.
There's no way you can prevent it. It's a matter of when.
I'm going to give one more antidote is Jim Kramer. Yesterday, he basically on his show, he gave about four reasons why he's bearish. Right? But he didn't tell the truth.

**Trey Reik** (4:35)
Bearish on stocks?

**Don Durrett** (4:36)
Yeah, you have a stock market. He gave about four reasons. But the real reason is stability. He said, I don't trust this thing. Right? His thing is ready to go, man.
The real reason is that we've been living off of debt, and that model is not working anymore. That's the real reason he's nervous. Not because Apple stock isn't, he's worried about Apple stock. That's baloney. That's not the reason he's bearish. As my point is, there's no transparency, so you don't learn anything. You watch TV, they're not going to tell you the truth. They're not going to tell you what they're really thinking. The real reason why they're bearish.