Gold has all the potential to go unprecedentedly high. But silver will be gold on
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Among those who support the end of government fiat money, it’s not uncommon to hear and see claims that gold is “the best money” or “natural money” or the only substance that’s really suited to be commodity money. In many of these cases, when they say “gold” they mean gold, and not silver, platinum, or any other precious metal.
Let's investigate how much inflation has eaten wage growth over time.
The scariest story I read over the holidays... was Christopher Leonard’s superb profile in Politico of Thomas Hoenig, a retired central banker. Hoenig made a name for himself after the financial crisis of 2008, as one of the top members of the Federal Reserve who wouldn’t go along with then-Chairman Ben Bernanke’s efforts to float the economy on an ocean of money.
Sydneysiders are facing empty shelves at some supermarkets as exploding coronavirus cases force a range of staff from truck drivers to warehouse workers into isolation.
DoubleLine founder Jeffrey Gundlach sends a warning to those looking to put money to work in China.
Companies are testing whether the United States can regain some of the manufacturing output it ceded in recent decades to China and other countries.
Stocks Fall After Fed Hints It May Be More Aggressive at Removing StimulusJan 5, 2022 - 12:06:20 PST
The 10-year Treasury yield hit its high of the day and the S&P 500 hit its low of the session following the Fed’s update. The meeting minutes showed the Fed discussing reducing its balance sheet shortly after it raises rates later this year.
FOMC Minutes Shows Hawkish Fed Hiking "Faster Than Anticipated", Warn Of Omicron RisksJan 5, 2022 - 12:02:02 PST
Tl;dr: The FOMC Minutes are considerably more hawkish than expected in terms of both the timing of the liftoff of rates and the pace of normalization of the balance sheet.
Jan 5, 2022 - 11:54:43 PST
“When you get a range expansion, the market is sending you a very loud, clear signal that the market is getting ready to move in the direction of that expansion.” -Paul Tudor Jones
Jan 5, 2022 - 11:47:16 PST
The Federal Reserve Open Market Committee meeting should have a Lawrence Welk bubble machine operating, particularly for their announcements.
Step Aside "Transitory" Inflation: The Fed Wants To Be Dead Wrong About "Easing Supply Chains" NextJan 5, 2022 - 09:39:32 PST
In 2021 the reverse-Robinhood wealth transfer mechanism better known as the Federal Reserve destroyed what little credibility it has by claiming, arrogantly and foolishly, that inflation is transitory for months and month, only to see inflation keep rising in a very non-transitory fashion, until one day Powell bit the bullet and admitted that the Fed - and assorted macro tourist hangers on...
Jan 5, 2022 - 09:19:38 PST
Misreading inflationary wages for potentially deflationary labor hoarding, this would be another huge mistake along the same lines of bad subjective interpretation officials have made time and time and time again; most recently, 2019’s labor shortage. The Fed’s bias on the economy always is, despite all that average inflation-targeting nonsense, highly inflationary.
Deflation: Japan PM Urges Business Lobbies, Unionists To Reverse Downtrend in WagesJan 5, 2022 - 09:15:40 PST
Japanese firms, long worried about losing customers and market share as the country grappled with deflation, have been wary about raising wages over the years. Instead, many have resorted to belt-tightening to cut costs, leaving employees with flat pay for decades.
New Year New Inflation Theme: What if Inflation Surprises to the Downside?Jan 5, 2022 - 09:10:14 PST
With respect to inflation, while it is likely to remain elevated for longer, J.P. Morgan economists project that it will peak in 1H. Base effects are becoming more challenging for inflation to stay elevated. Even assuming oil price at $100 through this year, headline CPI in the US is likely to move down.
After over-heating the economy with unnecessary spending, it’s difficult for policymakers to stop or admit the mistake. Central banks and governments will interpret the “hangover” slowdown as a need for more stimuli. And they’ll be wrong again.
Jan 5, 2022 - 09:06:23 PST
Budgets are tighter for millions of people with 2022 in full swing. Being money-conscious is nothing new for many of us, but new research shows the average American worries about their finances six times a day.
Jan 5, 2022 - 09:02:36 PST
As more countries introduce CBDCs and regulate the industry, a domino effect will lead to other countries integrating crypto as a part of their financial systems. Regulations are also important for blockchain startups to assess risk management strategies for safeguarding their consumers and the financial conduct of their operations.
Croatia’s central bank urged people to start shifting their stashed-away kuna banknotes from mattresses or sock drawers to banks to ease the country’s adoption of the euro, expected next January.
Turkish authorities are keeping tabs on investors who are buying large amounts of foreign currency and asked banks to deter their clients from using the spot market for hedging-related trades as they struggle to contain the lira’s slide.
A Reason for Rising Food Prices? Chinese Government Stockpiling Goods on a Massive Scale: BloombergJan 5, 2022 - 08:45:30 PST
By mid-2022, according to the U.S. Department of Agriculture, China will hold 69% of the world’s corn reserves, 60% of its rice and 51% of its wheat. By China’s own estimation, these reserves are at a “historically high level” and are contributing to higher global food prices.