Gold has all the potential to go unprecedentedly high. But silver will be gold on
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China’s industrial firms are doing much better this year than in 2020, but the improvement in profits is patchy, with miners and raw material providers benefiting from higher commodity prices at the expense of manufacturers.
(Airlines’ U.S. flight cancellations exceeded 2,800 for the Christmas weekend, disrupting travel on one of the busiest periods of the year as the omicron-fueled wave of Covid cases triggered air-crew shortages.
US holiday sales jumped 8.5 per cent from last year as consumers spent more money on clothes, jewellery and electronics, a report from Mastercard SpendingPulse showed.
In Hot Job Market, Salaries Start to Swell for White-Collar Workers: WSJDec 27, 2021 - 05:21:24 PST
Professionals toward the end of 2021 saw compensation jump at the fastest rate in nearly 20 years, with sectors including law and finance reaping significant gains.
Federal Reserve Credit last week surged $66.7bn to a record $8.742 TN. Over the past 119 weeks, Fed Credit expanded $5.015 TN, or 135%. Fed Credit inflated $5.931 Trillion, or 211%, over the past 476 weeks. Elsewhere, Fed holdings for foreign owners of Treasury, Agency Debt last week dropped $12.9bn to a one-year low $3.425 TN. "Custody holdings" were down $74.1bn, or 2.1%, y-o-y.
'Rich Dad Poor Dad' is as bearish as ever.
In the last batch, taxpayers got close to $1,200 back, on average.
I hope everybody had a great Christmas and found everything they wanted under their Christmas tree.In the spirit of the season, I want to tell you about a Christmas present James Madison gave the United States way back in 1798. It is a bit of history that has fallen down the Orwellian memory hole. But it is extremely important to understand because it has a powerful application today.
The inflation of today is a starkly different creature than what we faced in 1979. The world is massively different and presenting us with a strain of inflation that will most likely be stronger and more difficult to combat without major disruptions to our economy. This article is an attempt to highlight the differences and why today the position we find ourselves in is much more precarious.
Gold closed out the week before Christmas above $1,800 an ounce, despite rising bond yields. The $1,800 level has been viewed as a ceiling for the price of gold. In his podcast, Peter Schiff said people need to start thinking of $1,800 as a floor. And he said they will once they realize there is no ceiling on inflation.
Gold should have a strong 2022 as the risks to the outlook remain elevated and that will likely lead to more easing from Beijing, dovish Fed rate hikes in the summer, and a weakening dollar as investors bet on Europe’s growth potential.
Gold futures climbed Thursday, finishing in positive territory for the day and week, ahead of the Christmas holiday Friday, after several days highlighted by...
Dec 23, 2021 - 13:12:45 PST
Venezuela has accused the United Kingdom (UK) of resorting to “frauds and tricks” to seize gold it has deposited in the Bank of England (BoE) by Venezuela’s Central Bank (BCV).
Dec 23, 2021 - 13:10:22 PST
The Chinese central bank has intensified its easing monetary policy efforts to accommodate the nation’s slowing economic growth.
Bullion has been partly displaced by crypto currencies as a store of value for speculators - but for governments it remains a key reserve asset.
We'll see what happens between now and 2031... But keep this in mind as we head into the new year.
The central bank can manipulate the interest rate to whatever level it desires. However, it cannot exercise control over the interest rate as dictated by individuals’ time preferences. It is not going to help economic growth if the central bank artificially lowers interest rates when individuals have not allocated an adequate amount of savings to support the expansion of capital goods investments. It is not possible to replace saved wealth with more money and the artificial lowering of the interest rate.
The end result was a large increase in the supply of coin and bullion in 1630s Amsterdam. Free coinage laws then served to create more money from this increased supply of coin and bullion, than what the market demanded. This acute increase in the supply of money served to foster an atmosphere that was ripe for speculation and malinvestment, which manifested itself in the intense trading of tulips.
Although politicians have always had incentives to cast themselves and their policy proposals in the best possible light, they now seem to be going further than ever into the realm of hyperbole. And, increasingly, the public isn’t falling for it.
But even the comparison to 1974 fails because back then, the Fed had already pushed short-term rates to 9%. Today: most reckless Fed ever.