Gold has all the potential to go unprecedentedly high. But silver will be gold on
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Silver was down 16% in Q3 as the Fed begins to taper asset purchases. Another factor is that inflation looks likely to ease in the coming months as supply chain issues are sorted out. However, Taylor Dart explains why Q4 could be quite strong for silver.
Today gold is 0.8% lower, as it is getting closer to the $1,750 level again. What about the other precious metals?
Oct 5, 2021 - 11:59:03 PDT
The closely watched Atlanta Fed’s GDPNow forecast for real GDP growth for the third quarter has been slashed by 63 percent since August 2 when the forecast was for 6.3 percent growth. The forecast now stands at a dismal 2.3 percent growth rate as of 7:30 a.m. (EDT) this morning. The Atlanta Fed’s GDPNow forecast could be revised further today after...
Oct 5, 2021 - 11:55:53 PDT
Newly unearthed documents now put Wall Street megabanks Goldman Sachs and Citigroup at the center of this trading scandal. Both Goldman Sachs and Citigroup are bank holding companies that are supervised by…wait for it…the Federal Reserve. (Their broker-dealer units are supervised by the SEC and other securities regulators.) The documents suggest...
I’ll point out that in 2014, the dollar's holdings were at 66%... So last month’s percentage of 59.2%, shows a gradual decline in holdings of the dollar… I think this is the way the Gov’t would like to see the dollar gradually lose favor and thus lose value to invite inflation into the economy… OOPs, did I say that out loud? HA!
Government economic policy is completely backwards. We are told that massive deficit spending, interest rates driven to zero, and now higher taxes on the "rich" will bring the American economy out of the doldrums or whatever fake malady seems to be popular.
Oct 5, 2021 - 11:22:55 PDT
The Atlanta Fed has interesting research paper on the housing market.
Leading central banks today resemble ships pushed dangerously close to deflationary cliffs by the COVID-19 shock.
Six months ago, few Americans had heard of Evergrande. Now many worry this Chinese property developer’s downfall will start an economically devastating chain reaction.
The US debt ceiling is in the news again due to Congressional gridlock, along with the possibility of a US sovereign default and the unintuitive idea of the US Treasury Department minting a trillion-dollar platinum coin to bypass the problem. This article breaks down some of the nuances involved in this strange situation, which comes up every few years.
Fed To Launch "Review" of Central Bank Digital Currency That Could Render Cash, Privacy ObsoleteOct 5, 2021 - 10:49:46 PDT
Senior officials have been pretty tetchy about carefully weighing the "pros and cons" of a system that would, in theory, enable the Fed to deposit money directly into the 'digital wallets' of regular Americans, a power that could ultimately render the entire private banking system obsolete.
The big story in Q3 was the sharp reversal in bond yields, along with a rising US dollar, both putting downward pressure on the gold price. This quarterly report briefly examines the performance of gold and other major asset classes during the third quarter and year-to-date, along with a review of the conditions that could impact the precious metal in the final quarter of the year.
Its quest for missing revenue would threaten taxpayer privacy.
Watch Live: Elizabeth Warren Shreds Fed Officials Over "Culture Of Corruption"Oct 5, 2021 - 07:58:44 PDT
Senator Elizabeth Warren (D-MA) is giving a speech today on the Senate floor at 11AM EST today "on the culture of corruption among high-ranking Fed officials," according to The Hill's Sylvan Lane.
Yellen Says Debt Ceiling Hike ‘Utterly Essential’, Opposes Platinum Coin ‘Gimmick’Oct 5, 2021 - 07:18:00 PDT
U.S. Treasury Secretary Janet Yellen on Tuesday said it was "utterly essential" for Congress to lift the federal debt limit ahead of an Oct. 18 deadline to avoid U.S. default, but added that she opposes using a loophole in U.S. currency law to resolve the crisis.
Central banks are at risk of over-promising on how they can respond to the challenges posed by climate change, a Nobel economics laureate whose work questions how well economic models cope with uncertainty has warned.
ÌMF’s Georgieva Says Europe More Fit To Avoid Another Sovereign Debt CrisisOct 5, 2021 - 07:09:00 PDT
Medium-term fiscal consolidation and growth will put Europe on a sound footing to avoid another sovereign debt crisis despite rising debt levels caused by the COVID-19 pandemic, the head of the International Monetary Fund said on Tuesday.
New Vehicle Sales Plunge as Prices Soar amid Supply Chain Chaos, Chip Shortages, Low InventoriesOct 5, 2021 - 06:54:55 PDT
Ford, whose sales plunged 18%, is suddenly No. 1 for September. That’s how bad it is.
Sky-high availability rates. The gap between “asking rents” and “effective rents” widened further amid hefty concessions, free rent, and lower “taking rents.” Tenants have negotiating power.
Let's compare the PCE, the Fed's preferred measure of inflation to the CPI and an alternate measure that I compute.