Gold has all the potential to go unprecedentedly high. But silver will be gold on
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Precious metals news
Gold and silver both had an excellent two-year run in 2019 and 2020. But they've spent much of 2021 so far in a downward drift. Which is puzzling given how many tens of $trillions have been injected into the global system by the world's central banks since the pandemic hit last year, as well as the massive spike in inflation all of that monetary and fiscal stimulus has caused.
But history says that the real action is still to come. The following chart shows the past century's gold bull markets, most of which* make the current bull market look like a virtual newborn.
Gold Prices End Higher As Bond Yields Slip After ADP Private-Sector Jobs DataOct 6, 2021 - 12:53:22 PDT
Gold futures end higher with weakness in Treasury yields, despite a better-than-expected climb in U.S. private-sector payrolls, providing modest support for the precious metal.
ECB Already Preparing Next QE To Address "Market Turmoil" When Emergency QE Ends Next YearOct 6, 2021 - 12:22:05 PDT
The reason for setting up a brand new QE Such an initiative would act as an insurance measure in case the scheduled end in March of the 1.85 trillion-euro so-called Pandemic Emergency Purchase Program, known as PEPP, prompts a market selloff of bonds from highly indebted countries such as Italy, according to the officials.
August 2021 saw a total trade deficit of -$73.25B which is up 4.2% over the July trade deficit of -$70.3B. This number barely edged out the previous record in June of -$73.23B.The new record was driven primarily by Services. The Services Surplus took another big fall down -7.7% to $16.2B, the smallest Services Surplus since Dec 2011. The Services Surplus in June was $20.03B.
While inflation concerns mount for the U.S. economy, the real danger may be the combination of rising prices and a stagnating economy, said Bridgewater Associates co-Chief Investment Officer Greg Jensen.
Goldman is out with a warning that it could get worse before it gets better in the energy sector.
Biden Plan Would Sabotage US Economic Competitiveness in One Huge Way, Analysis FindsOct 6, 2021 - 11:56:53 PDT
That’s not 'Building Back Better'—it’s shooting ourselves in the foot.
Since the 2008 global financial crisis, the Chinese financial system has grown to become systemically important. Yet it is not clear that the international financial safety net has the resources to protect the world from the associated risks.
Federal government debt is rising as politicians increase spending faster than tax revenues are coming in the door. With the economy growing, the government should be paying down debt, rather than increasing it at a rapid clip.
Why Shortages Are Permanent: Global Supply Shortages Make Fantastic Financial SenseOct 6, 2021 - 11:20:19 PDT
The era of abundance was only a short-lived artifact of the initial boost phase of globalization and financialization.
Senate GOP Leader McConnell May Offer Short-Term Debt Ceiling Extension Following Biden PressureOct 6, 2021 - 11:13:01 PDT
President Joe Biden and Democratic leaders in Congress amped up pressure on Republicans to act on the debt limit.
Much has been made lately of the possibility of minting a trillion dollar coin to avoid Congressional gridlock surrounding the increase of the debt ceiling.
Gas prices have steadily climbed higher this year, and Americans are now paying the most at the pump in seven years.
The median projection for the federal funds rate in the fourth quarter of 2024 is 1.8%, still well below the 2.5% “neutral” rate considered to neither stimulate nor slow the economy.
Spending, inflation, and economic controls destroy wealth and create conflict.
The Biden Administration Has Introduced the Largest Permanent Increase of Food Stamps EverOct 6, 2021 - 08:28:01 PDT
The Biden administration has just introduced the largest increase in the history of the food stamp program (now SNAP, for Supplemental Nutritional Assistance Program). It will increase benefits by an average of about 25 percent, adding roughly $20 billion a year to its budgetary cost.
Vote To Advance Debt Limit Increase To Fail in Senate Wednesday, As Congress Marches Toward CrisisOct 6, 2021 - 08:22:23 PDT
The building battle over how to raise the debt ceiling will come to a head Wednesday afternoon when Republicans are expected to filibuster a procedural vote on raising the debt ceiling. The vote, scheduled for sometime after 2 p.m., will require 60 yeas. But Republicans have been very clear that they intend to vote against it uniformly.
Oct 6, 2021 - 07:36:13 PDT
The Atlanta Fed’s real-time GDP tracker fell … again … to 1.33% as The Federal Reserve continues its bizarre monetary stimulus.
Governments may not be able to make an economy, but they've proven they can break it.