Gold has all the potential to go unprecedentedly high. But silver will be gold on
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No nation can produce less of lesser quality, and squander more on infinitely greedy and corrupt elites, all funded by issuing trillions of new units of currency, and imagine that this asymmetry will never have consequences.
"The public debate over inflation is a great opportunity to focus on what really matters: subjecting monetary policymakers to the rule of law. Unfortunately, we’re currently squandering that opportunity to repeat pop-macroeconomic fallacies."
The key benchmark that the Federal Reserve targets to control monetary policy dropped for the second time in two weeks, an indication that the glut of cash in the front-end is starting to spill into this corner of the funding markets. The effective fed funds rate, which the central bank is currently aiming to keep within a range of 0% to 0.25%, slipped by 1 basis point to...
Like most people in the developed world, Kirsten Gjesdal had long taken for granted her ability to order whatever she needs and then watch the goods arrive, without any thought about the factories, container ships and trucks involved in delivery.
Brace for impact, as this plan would cost families billions of dollars in additional taxes upon the transfer of appreciated property.
At the annual Jackson Hole (aka, J-Hole) Economic Symposium, Federal Reserve Chairman Jerome Powell reiterated that the Fed is in no hurry to either taper asset purchases immediately or aggressivel…
Aug 30, 2021 - 10:28:30 PDT
There is an interesting paper by economists in The Federal Reserve System entitled “Fed’s Mortgage-Backed Securities Purchases Sought Calm, Accommodation During Pandemic.” W. Scott Fram…
I know that the Fed, other central banks and many others are trying to live in a fairytale world, but borrowed money, in the end, either has to be paid back or defaulted on. When borrowed money has been used to fund asset purchases and then those assets begin to fall in value, that is when the real debt deflation spiral begins.
Veteran investor Mark Mobius said investors should have 10% of a portfolio in gold as currencies will be devalued following the unprecedented stimulus rolled out to fight the coronavirus pandemic. At this stage, “10% should be put into physical gold,” said Mobius, who set up Mobius Capital Partners after more than three decades at Franklin Templeton...
Billionaire Paulson Who Shorted Subprime Calls Crypto ‘Worthless’ BubbleAug 30, 2021 - 08:05:30 PDT
The Bloomberg report pointed out that Paulson is a big believer—and buyer-- of gold despite digital assets outperforming the metal.
China's currency regulator has been conducting a rare survey of banks and companies to ask about their risk management processes and ability to handle volatility in the yuan, three banking and policy sources told Reuters.
German inflation jumped to its highest level since 2008, driven by energy and higher costs passed on by businesses.Consumer prices rose 3.4% in August, significantly faster than the 2% the European Central Bank aims to achieve sustainably for the euro area. Earlier on Monday, Spain reported a rate of 3.3%. So far, policy makers have argued that the current...
Federal Reserve Chair Jerome Powell’s speech Friday at the annual Jackson Hole forum was consistent with his very gradual and highly measured approach to policy changes – an approach that financial markets love as it implies a longer period of very loose liquidity that fuels ever higher asset prices.
They say to buy straw hats in winter, and stack your firewood in summer. That advice is based on the simple fact that seasons change, and preparing for the next season is easier and cheaper and more useful before it begins to switch. Similarly, we know winter is coming for the economy and markets. It may not feel that way at the moment, but nothing goes up indefinitely.
While In A Jackson Hole, The Fed In No Way Indicated It Is About To Stop DiggingAug 30, 2021 - 07:38:53 PDT
The central-banking conference at Jackson Hole this year was virtual: how appropriate for these Covid times - and for central banks thinking there is anything that they can actually do about them. The highlight was Fed Chair Powell’s speech, which comfortably met somnorific market expectations in being full of the aren’t-we-doing-well-but-steady-now! rhetoric that is the life-blood of modern central banking.
Despite a plunge in homebuilder sentiment, after June's unexpected drop "due to an unprecedented price spike", Pending Home Sales were expected to join both new- and existing-home sales with a modest rebound in July. But that was very wrong as July's US Pending home sales plunged 1.8% MoM (against +0.3% MoM expected), sending the year-over-year sales comp down 9.5%.
Enough consumers, flush with free money, suddenly eager to pay those high prices, particularly for big-ticket items they didn’t have to buy. Magic Mix.
Aug 30, 2021 - 07:25:37 PDT
Let's review a statement Powell made on Friday regarding accommodative financial conditions.
Aug 30, 2021 - 07:23:54 PDT
produced the above charts with data from Week 35 (biweekly actually) of the Census Bureau's Household Pulse Survey.
Port Congestion, Spiking Container Rates, Backlogs, Chaos: The Peak Shipping Season from Hell is HereAug 30, 2021 - 07:22:16 PDT
Getting ready for the holiday selling season.