Gold has all the potential to go unprecedentedly high. But silver will be gold on
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In its present form global governance is just another iteration of the managerial state and as such, countries should be free to exit a global order that is incapable of advancing capitalism and serving their interests.
Argentina's economy minister, renegotiating a massive loan with the International Monetary Fund, warned the lender risked losing credibility if it "pushes" the country "into a destabilizing situation."
Jan 20, 2022 - 08:29:26 PST
There are numerous reasons that members of Congress, bank regulators, and mainstream media don’t want to talk about the repo blowup in 2019 and the massive Fed bailout that followed. Economist Michael Hudson previously explained how the Fed lacked authority to bail out a handful of trading houses...
Deeper Into The Weeds of TIC For Red, Blue, And Collateral: Jeffrey P. SniderJan 20, 2022 - 08:26:30 PST
Those curves went flat (and inverted) for some reason even as the US CPI and PPI’s here and elsewhere went vertical. If you struggle thoughtfully into all these deep weeds, I believe you can find part of the answer for the divergence – just in time for Jay Powell’s growing conundrum.
And yet… bonds have hardly moved. In fact, they rallied for a bit after Powell’s speech… That’s not the price action of a bond market expecting runaway interest rates higher. The bond market is calling the Fed’s bluff – and quite frankly, so am I.
"I definitely think we will experience more volatility in 2022 than what we have seen certainly over the last year, but even going back over the last decade.
“You won't be able to log in with your existing IRS username and password starting in summer 2022," the IRS said, as spotted by a security blogger. and you'll have to send off a selfie if you want to pay your taxes online
Amid Omicron anxiety, surging mortgage rates, and a dip in homebuilder sentiment, analysts expected a modest 0.6% MoM drop in existing home sales in December, but while they were right on direction, the magnitude was way off as December Existing Home Sales crashed 4.6% MoM - the biggest MoM drop since Feb 2021.
Treasury Secretary Janet Yellen is having trouble with the curve (yield curve, that is). It keeps inching up, meaning that Treasury’s cost of debt financing is inching up too.
The Federal Reserve is a money-making enterprise.This probably shouldn't come as any surprise, given that the central bank can create money out of thin air and buy yielding assets. Still, the Fed rakes in a staggering amount of money.The central bank recently released its unaudited preliminary financial statement for 2021.
All eyes are now on the United States, where the economy is seeing the fastest escalation in prices since the 1980s, with a long unheard-of year-on-year inflation rate of 7 percent (compare ours at 4.5 percent). Their inflation problem comes from the combined effects of too much money pumped into the economy through government COVID subsidies ultimately funded by printing more money...
Gold up as much as 0.2% to $1,844.15 an ounce, the highest intraday level since Nov. 22. The Bloomberg Dollar Spot Index was flat, after dropping 0.2% on Wednesday. Silver gained after rising 2.9% the previous session. Platinum and palladium both extended gains.
Initial filings for the week ended Jan. 15 totaled 286,000, well above the Dow Jones estimate of 225,000 and a substantial gain from the previous week’s 231,000.
Initial Jobless Unexpectedly Surge To A Three Month High As Economic Slowdown DeepensJan 20, 2022 - 05:49:46 PST
But of course, just as the Fed erred last year and allowed inflation to run red hot, in 2022 it won't spot the economic slowdown in time and will keep tightening right into a major recession if not worse.... at which point Powell will of course panic and unleash an even bigger easing cycle than the Covid one.
Its quarterly sales rose 6%, led by health and cleaning products, with price increases accounting for half of the jump.
If the Fed Wanted To Stop Inflation, It Would Need To Hike Rates to Nearly 6%Jan 20, 2022 - 05:44:02 PST
Interactive Brokers founder and chairman Thomas Peterffy has concerns about coming interest rate hikes from the Federal Reserve.
President Joe Biden acknowledged that a major problem facing Americans remains high inflationary pressures, but said Wednesday that a large share of the dilemma falls on the shoulders of the nation’s central bank.
“There’s no need at all to correct the current monetary easing,” BOJ Gov. Haruhiko Kuroda told a news conference on Tuesday, denying speculation of an early interest rate hike by the central bank.
Joe Biden is telling us the economy is back on track. And the Federal Reserve insists it can slow down the inflation freight train. But the average American isn't quite so sanguine.Consumer sentiment plunged to the second-lowest level in a decade in January, according to the University of Michigan Surveys of Consumers.
The Chinese yuan reasserted itself as one of the most-popular currencies for cross-border payments, notching the fourth spot for the first time since August 2015.