Gold has all the potential to go unprecedentedly high. But silver will be gold on
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Precious metals news
Oct 26, 2021 - 13:41:28 PDT
Where are we in the precious metals cycle? There is no shortage of questions on why gold has significantly underperformed during such an ideal macro setting. Let’s start by looking at the usual fundamental trends of this industry as part of prior historical cycles.
China's net gold imports via Hong Kong jumped nearly 60% in September to their highest level in five months, data from the Hong Kong Census and Statistics Department showed on Tuesday, as demand was bolstered by China Evergrande's crisis and a dip in prices.
Goldman Sachs (NYSE:GS) Chief Executive David Solomon said on Tuesday there is a risk of higher inflation and slower growth globally. There will be consequences for having accommodative monetary policy for a long time, Solomon said at the Future Investment Initiative conference in Saudi Arabia's capital, Riyadh.
Fed Will Not Rush To Taper, but Is Marching Toward a Dangerous Field: Merk InvestmentsOct 26, 2021 - 13:18:16 PDT
Markets will be put in danger if the Fed has to do more to deal with heating inflation, says Axel Merk of Merk Investments.
Oct 26, 2021 - 12:27:04 PDT
And with a wave of her magic wand, Treasury Secretary Janet Yellen (aka, the Incredible Janet Yellenstone) will make inflation magically return to less than 2% after mid-2020.
A key measure of the bond market’s expectations for inflation over the next five years — known as a break even — rose to a new high, briefly topping 3 percent on Friday. That meant investors expected inflation to average about 3 percent a year for the next five years, far higher than any time in the decade before the pandemic hit. Measures of inflation expectations over longer periods, such as over the next 10 years, also rose to multiyear highs.
A Day Late & A Dollar Short – The Fed’s Coming Policy Mistake: Lance RobertsOct 26, 2021 - 11:24:04 PDT
An honest review of history shows the Fed is consistently a “day late and a dollar short” regarding monetary policy. With the market trading at historical extremes, it is clear the Fed is about to make another policy mistake.
The age of abundance has given way to an age of scarcity, while the pro-cyclical version of inflation may have given way to the counter-cyclical version.
Oct 26, 2021 - 10:57:01 PDT
“We probably will have a wealth tax,”House Speaker Nancy Pelosi told CNN. But there is no constitutional provision for a wealth tax.
To address the renters' crisis triggered by the pandemic, Congress allocated $45 billion in aid. Six months later, most of that money is still available.
While all politicians exaggerate, US President Joe Biden’s claim that his proposed $3.5 trillion spending package “costs zero dollars” rises to a higher plane, and Americans aren’t buying it. Even if the legislation was fully covered by tax increases, the costs for the economy would be significant.
Meet Skimpflation: A Reason Inflation Is Worse Than The Government Says It IsOct 26, 2021 - 09:58:29 PDT
The economy is malfunctioning. We're spending more and getting less. The problem is bigger than just standard inflation.
Mounting problems with inflation, the supply chain, and energy shortages are not likely to resolve themselves quickly.
Banca Monte dei Paschi di Siena SpA has burned through about 18 billion euros ($21 billion) of taxpayer and investor cash since 2008, and there’s still no fix in sight.
We’re Going To End Up Having Asset Deflation, That’s Going To Filter Through the Economy: RosenbergOct 26, 2021 - 08:15:41 PDT
Rosenberg Research’s David Rosenberg believes runaway inflation warnings are exaggerated and deflation will eventually grip the U.S. economy.
They also said that the driver's Uncle Fed had rigged the vehicle with an anti-accident device, so a crash was impossible. One passenger blurted out that a fellow named Goldy Sacks said the driver could easily "melt up" and take Deadman's Curve at 120 miles per hour without any trouble.
After the townhall, the Wall Street Journal was early among mainstream media publications to observe that the emperor has no clothes. In an editorial titled “The Confusing Mr. Biden,” the paper wrote, “Even with a friendly audience and softball questions, Mr. Biden’s performance revealed why so many Americans are losing confidence in his Presidency.”
Meet Biden Nominee Who’s Sympathetic to Soviet-Era Socialism Wants Fed To Take Over Private BankingOct 26, 2021 - 07:49:50 PDT
“Say what you will about old USSR, there was no gender pay gap there," she wrote in a 2019 tweet. "Market doesn’t always ‘know best.’”
Congressional Democrats are setting their sites on US billionaires - and the roughly $5 trillion in wealth held by them
Labor shortages may be the most intractable of the cost risks that U.S. companies faced in the latest quarter, and as the earnings season moves into its peak there are signs the problem will persist, some strategists say.