Gold has all the potential to go unprecedentedly high. But silver will be gold on
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The consequences, however, are disastrous for wage earners and savers. By our estimation, as a rule of thumb, add a zero – or two – to the back of today’s prices, and that’s roughly what goods and services will cost by the end of the decade. No doubt, a 10-Year Treasury note yielding 1.30 percent won’t get you there.
The danger of a 1987-style asset price deflation calamity is, therefore, high. Note that it wasn’t until the growth rate of MACI slowed slightly that the stock market took fright. With M2 money supply growth slowing quite sharply now, it could be that we are past peak growth in money and credit already.
Fed’s Daly Warns Delta Variant Could Be Central Bank’s Next Excuse To Delay Rate Hikes: UpdateJul 9, 2021 - 09:24:47 PDT
The other day, a team of analysts at Goldman Sachs (perhaps inadvertently) illustrated the issue with the Delta variant. While scientists argue that it's been associated with an upswing in new infections, the number of hospitalizations and deaths has remained stagnant.
Jul 9, 2021 - 08:51:22 PDT
Markets are getting twitchy about it, and with good reason. It is, according to the Financial Times, “the largest inflation shock since the 1970s.”
On Wednesday night, I got to watch a bunch of guys skate around an ice rink with a silver cup hoisted over their heads. My beloved Tampa Bay Lightning won their second straight Stanley Cup championship with a 1-0 win over the Montreal Canadians.If it seems like we just did this - well - we did.
All debt-fueled speculative bubbles pop, even as cheerleaders claim otherwise. The expansion of Housing Bubble #2 is clearly visible in these two charts of house valuations, courtesy of the St. Louis Federal Reserve database (FRED).
The Debt Ceiling Deadline Is the End of July — Democrats Have Options, but No Clear Plan YetJul 9, 2021 - 08:32:28 PDT
The debt ceiling needs to be suspended or raised at the end of July, but Democrats have yet to reveal a strategy to keep paying America's bills.
Just a few months ago, we described shrinkflation as "the oldest trick in the retailer's book" with an explanation of how Costco was masking a 14% price hike by instead reducing the sheet count in its rolls of paper towels and toilet paper.
Inspired by Reddit forum WallStreetBets, some of the 122,000-strong community hope to corner the market and bring down what they say is an unjust banking system.
Gold headed for a third weekly advance as fears that coronavirus variants may endanger the economic recovery saw investors opt for havens.Bullion is winning back investors after a bleak June, helped by a sharp decline in Treasury yields which burnish the appeal of the non-interest bearing metal.
Ex-NYSE President Tom Farley’s SPAC To Merge With Bullish To Bring Planned Crypto Exchange PublicJul 9, 2021 - 07:23:13 PDT
When the transaction closes, Tom Farley will serve as CEO of Bullish, which will become a publicly traded stock in the deal.
The Bank for International Settlements, the International Monetary Fund and the World Bank made a joint call on Friday for global cooperation on central bank digital currencies. Around 90% of the world's central banks are currently looking at creating digital versions of their currencies, raising questions about how they will work and operate with each other.
This week, the IMF undercut the Fed's "transitory" inflation narrative, warning about the possibility of sustained inflation in the US. But the real question remains unanswered - what will the Fed do about it? In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about the options on the table. None of them seem particularly good. That raises another question: how long can the politicians and central bankers keep this thing going?
Dick Bove, Odeon Capital Analyst, joined Yahoo Finance Live to break down why the Chinese operations for the largest U.S. banks are at risk.
A Deal on Global Tax Reform Will Be Finalized ‘Very Soon,’ German Finance Minister SaysJul 9, 2021 - 06:54:54 PDT
Taxation is under the spotlight this weekend as finance ministers of the 20 most advanced economies in the world are gathered in Venice, Italy.
Jul 9, 2021 - 06:48:36 PDT
Release the Kraken! The People’s Bank Of China announced it is cutting its Required Reserve Ratio by 0.5% for most banks, a move that will unleash about 1 trillion yuan ($154BN) of long-term …
The rate on the 30-year fixed mortgage — the most common home loan — decreased to 2.90% this week, down from 2.98%.
With Stimmies Fading, Consumers Dip into Credit Cards for First Time since 2019Jul 9, 2021 - 05:48:37 PDT
No one wants consumers to pay off their high-interest credit cards, least of all banks, and consumers had threatened to do just that.
The Fed released its monthly report on consumer spending. Beauty or lack thereof depends on how you analyze the data.
Once a society embraces the division of labor, direct exchange becomes increasingly infeasible. Without money, specialization is constrained; without money, dreams of constructing an advanced society are merely a utopian pipe dream. At its core, money is the lubricant for human relations.