NFTRH Update 9.8.13, Yield Spreads & Gold

As noted, this week’s letter was a difficult one because it raised a lot of questions, many of which seem to have opposite implications.  Going forward I will try to be very clear in focusing on individual aspects of the macro picture as opposed to throwing everything up against the wall the way I think #255 did. The individual aspect nagging at me from #255 … Continue reading NFTRH Update 9.8.13, Yield Spreads & Gold