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Backing their currency with gold could be seen by Xi as the ultimate “Trump card” of sorts, especially as the U.S. has watched its currency fall into a precarious position over the last 18 months due to unprecedented quantitative easing. It’s the type of revelation that, if done correctly by China, can immediately hoist China’s economic status to the top of the global ladder...
How a 45% Chance for a New All Time High for Gold End Exists By Year EndAug 26, 2021 - 07:16:50 PDT
What are the chances of gold reaching a new all-time high price by the end of this year? Actually, the chances are precisely 45% - according to a model used by Ronnie Stoeferle and his team. Join Mike Maloney and Ronnie as they explore this possibility further.
Planter’s investment in bullion bars raises questions for retail savers. What is it that Palantir Technologies knows that the rest of us don’t? Quite a lot, if we are to judge by the number of governments that are prepared to pay for the US high-tech company’s data-crunching service. So what should we make of Palantir’s purchase this month of $50.7m worth of gold? The company bought bullion with the precious metals market very far from shining.
Bullard Says the Fed Has To ‘Get Going’ on the Taper, May Need To Get Aggressive To Stop InflationAug 26, 2021 - 07:06:33 PDT
St. Louis Fed President James Bullard says the central bank should have its tapering process finished by the end of March 2022.
Aug 26, 2021 - 06:59:41 PDT
Usage at the Federal Reserve’s facility for overnight reverse repurchase agreements Wednesday rose to a new all-time high. Seventy-seven participants took $1.147 trillion, which exceeded Tuesday’s volume of $1.13 trillion, and the previous record of $1.136 trillion reached on Aug. 23.
Aug 26, 2021 - 06:57:34 PDT
The financial markets are overstimulated like a cranky child after too much sugar (aka, sugar rush). So what will happen to overstimulated markets if Fed Chair Powell announces withdrawal of moneta…
Q2 GDP Revised To 6.6%, Missing Expectations; Core Inflation Hits Highest Since 1983Aug 26, 2021 - 06:52:00 PDT
One month after the BEA shocked markets with its first estimate of Q2 GDP, which was a huge miss to expectations of 8.5%, printing at just 6.5%, moments ago there were far less fireworks when the BEA released its first estimate of Q2 GDP, which came in at 6.6% (6.560% to be precise), which was also a miss to estimates of 6.7% but far more modest.
The current economic environment is generally supportive of commodities. Higher inflation rates, improving economic conditions and commodity supply shortages all favor this sector. As a result, investors are increasing allocations to commodities. And according to a report published by the World Gold Council, gold is positioned as the most effective commodity investment in a portfolio.
Gold is considered a hedge against inflation and currency debasement that tends to result from widespread money printing by central banks.
Total Number Of Americans On The Dole Rebounded Back Above 12 Million Last WeekAug 26, 2021 - 05:43:04 PDT
Initial jobless claims rose very modestly last week from 349k to 353k, but remains very close to post-COVID-lockdown lows...
During a Q&A with students and teachers, Federal Reserve Chairman Jerome Powell praised the bad economics that drove the government response to the coronavirus pandemic. In this clip from his podcast, Peter Schiff breaks down everything Powell got wrong.During the Zoom event, Powell went out of his way to praise Congress for passing the "CARES Act." The Coronavirus Aid, Relief, and Economic Security Act was the first $2.2 trillion stimulus plan Congress passed in response to the pandemic back in March 2020.
The Federal Reserve Bank of Kansas City will hold its 45th annual Economic Policy Symposium virtually this year, as opposed to in its traditional Jackson Hole setting in Wyoming. The event will kick off on Friday, Aug. 27.
European Central Bank policymakers held an extensive debate over their new guidance on interest rates and revised the proposal several times to soothe concerns and objections by policymakers, the accounts of their July 22 meeting showed on Thursday.
These days, all the talk in financial markets is about when the Federal Reserve will start paring its debt purchases. What’s more important, for everything from stocks to bonds to currencies, is when they will end.There have been few major moves ahead of the Kansas Fed’s virtual Jackson Hole symposium, where Chair Jerome Powell on Friday may provide...
Aug 26, 2021 - 05:24:25 PDT
'[Once] this party ends, the hangover is going to be in the form of a sharp drop in economic growth,' says billionaire "Bond King" Jeffrey Gundlach.
Year 1 of the Fed’s framework, unveiled at its Jackson Hole conference in 2020, has included high inflation and job market healing. Now comes the hard part.
U.S. inflation showed some cooling off in July after posting large gains in prior months. Consumer prices rose at their slowest monthly pace since February, providing some relief to those in the “transitory” camp, who hold that this bout of inflation isn’t a long-term phenomenon.
BOJ Policymaker Warns of Global Impact From Chip Crunch, Asia Factory ClosuresAug 26, 2021 - 05:15:35 PDT
A shortage of semiconductor chips may persist for the rest of this year if the coronavirus pandemic keeps Southeast Asian factories shut, a Bank of Japan policymaker said, highlighting supply constraints as among key risks to the global economy.
A supply chain crunch that was meant to be temporary now looks like it will last well into next year as the surging delta variant upends factory production in Asia and disrupts shipping, posing more shocks to the world economy.Manufacturers reeling from shortages of key components and higher raw material and energy costs are being forced into bidding...
What's far more likely - and scary - is that the Fed will continue to have to finance the deficit, and their balance sheet will go to many multiples of where it's at now.