Gold has all the potential to go unprecedentedly high. But silver will be gold on
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Precious metals news
Many precious metals investors believe that Gold Royalty companies are a good investment because they make a lot of money on royalty streams rather than the risky venture of discovering, building, and operating mines. While this is certainly true, if we consider how royalty companies have rewarded investors...
WHO ARE WE KIDDING??: Biden To OPEC & Russia "Must Pump More Oil To Help American Working Class"November 4, 2021
After Biden called out for OPEC & Russia to pump more oil to help ordinary Americans, he was promptly refused. And, not only Biden, but the Secretary of Energy also publicly blamed OPEC for high crude oil prices. This is simply amazing when we realize that the United States is still the largest producer of oil...
Gold Settles Lower After ADP Jobs Data, but Finds Support After Expected Fed Decision on Taper: MWNov 3, 2021 - 13:13:29 PDT
“The Jerome Powell Fed had maintained its customary policy of clear forward guidance to manage market expectations, in order to avoid surprising financial markets,” said George Milling-Stanley, chief gold strategist at State Street Global Advisors.
Analysts are keeping an eye on the Federal Reserve's actions when considering the future of gold. One sees prices rising to over $2,200.
"In hindsight, it is difficult to fathom how the patriots erred so grievously in issuing paper money during the Revolution. At least a certain amount of them were aware that only a limited amount of paper money could be issued before engendering an inflationary spiral."
A good friend who owns a major auto dealership in the Dallas area recently told me he typically has about 500 to 1,000 cars and trucks on his lot. Now, he has 15. That’s how severe the supply chain problem has become.
Inflation Is at a 30-Year High. Here’s How the Federal Reserve Plans To Deal With ItNov 3, 2021 - 12:01:42 PDT
"We live in a risk management business," Powell said recently, "not one of absolute certainty."
Monstrous Money Printer BoJ Stopped Printing Money, Started Unloading Government SecuritiesNov 3, 2021 - 11:58:46 PDT
Nikkei 225 is flat with February, when the BoJ started unloading government securities. Even as radical and monstrous stimulus continues globally with repressed interest rates and enormous balance sheets at central banks, there are now a lot of concerns that the inflation dynamics have woken up and will be tough and painful to tame if allowed to run.
This creates a risk for the economy. The bond market, for all its imperfections, acted as an important check on government fiscal and monetary excesses. That power now rests almost exclusively with Fed Chair Jay Powell—the man who, along with his fellow board members, tells the Fed's traders how many bonds to purchase each day. ...
Credit Suisse will unveil a new centralised structure on Thursday in an attempt to bring its far-flung divisions to heel and draw a line under a string of scandals that have cost the Swiss bank billions of dollars, two sources said. Over the past year, Credit Suisse has been fined for arranging a fraudulent loan to Mozambique, tarnished by its involvement with defunct financier...
LIVE: Fed Chairman Jerome Powell Speaks on Post-Pandemic Monetary Policy — 11/03/21, 2:30PM ETNov 3, 2021 - 11:16:38 PDT
The fact they continue to describe inflation as transitory suggests they’re going to continue to stay lower for longer than many are anticipating,” said Michael Arone of State Street Global Advisors.
FOMC Launches $15BN Taper, Reiterates Inflation 'Transitory', No Rate HIke DiscussionNov 3, 2021 - 11:05:22 PDT
Since the last FOMC statement (and press conference) on Sept 22nd, when the 't-word' was first uttered with malice, stocks have soared higher, bonds are ugly and gold and dollar are barely changed...
Fed To Start Tapering Bond Purchases Later This Month As It Starts Pulling Back on Pandemic AidNov 3, 2021 - 11:02:16 PDT
The Federal Reserve announced Wednesday it soon will begin reducing the pace of its monthly bond purchases, the first step towards pulling back on the massive amount of help it had been providing markets and the economy.
Cumulative US inflation since 1970 to 2021 is 600%, #Gold price in US dollar is up 4,940%Nov 3, 2021 - 08:30:10 PDT
#Gold price in US dollar is up 4,940%. #Silver price in US dollar is up 1,174%. Say again gold and silver prices have not outperformed inflation with a straight face (Oct. 29, 2021).
US to Have Highest Top Income Tax Rate Among Developed Nations Under Biden Plan, New Analysis WarnsNov 3, 2021 - 08:21:56 PDT
This could hurt not just rich people, but the entire US economy. In states like New York and California, the top income tax rate would hit 66.2 percent and 64.7 percent, respectively, under President Biden’s plans. Is that a fair amount?
Our involvement there was America's longest war, longer than the Civil War, World War I, and World War II combined. We accomplished little good and plenty of bad. Tens of thousands killed. A trillion dollars spent.
Printing trillions of currency units can't restore the global supply chain or social cohesion, Rather, jacking phantom wealth to the moon is only accelerating the collapse of the social order and the economy even as it accomplishes absolutely nothing in terms of solving real-world problems.
Cargo thefts along the West Coast have spiked this year as the backlog of container ships at the nation's largest ports continues to grow
The penalties on 58,900 containers at the ports of Los Angeles and Long Beach are officially racking up charges. These containers were part of the 60,000 containers the ports alerted the ocean carriers last Monday to move or face a daily $100 penalty per container, increasing in $100 increments per day.
Let's tune into what Janet Yellen has to say about the next Fed Chair.