When we take the Federal Reserveposition of lowering interest rates, we have the perfect storm for runaway inflation and much higher metal prices in the future.
"Clearly when clubs haven't got a detailed, finalised plan in front of them, then we need to understand that clubs want to reserve their final position and need to see a final document in front of them before they can give their ringing endorsement, " he said.
The Federal Reserve is in a position to know things about the American economy that other people don't -- and, in a worrisome sign, it slashed American interest rates by more than investors had expected on Tuesday in an effort to reignite growth.