Peter Hug Opts To Septaper Talk Instead Of Fishing

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Kitco Metals’ Global Trading Director Peter Hug comments on Wednesday’s FOMC minutes from the July meeting and Ron Paul’s hard asset portfolio on this edition of “For Pete’s Sake.” In his morning commentary, Hug said he was not expecting the Fed to reveal anything new and was proven to be right. “Absolutely nothing came out of today’s meeting and I don’t see them doing anything until they have economic data to substantiate it,” Hug says. Hug speculates the Fed might begin to cut bond buying by $20 billion a quarter and that will take at least a year for the tapering to end before there is any possibility for interest rates to rise, he adds. Another news item Hug looked at was the release of former Congressman Ron Paul’s investment portfolio that is dedicated almost solely to hard assets. Tune in now to hear Hug’s take on the Fed and Ron Paul’s asset allocation. Kitco News, August 21, 2013.

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