Gold has all the potential to go unprecedentedly high. But silver will be gold on
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From a fundamental perspective, global governments and central banks continue to gorge on debt and print astounding amounts of paper money, which is a trend that will not end any time soon now that the global economy is so hopelessly addicted to stimulus. The inevitable dilution of the value of paper money can only benefit hard assets such as gold and silver in the long run.
“the fact that all other major assets classes are holding onto much of their stimulus-driven gains, gold looks massively undervalued in that regard.”
Almost 15 Million Americans Remain On Government Dole, Despite Initial Claims DropJul 1, 2021 - 05:44:29 PDT
With more states ending their emergency handouts to the jobless, claims data is likely to start getting noisy but last week saw initial claims tumble more than expected (to a post-COVID low of 364k from 415k last week)...
Global Property Prices Are Rising at the Fastest Rate Since Before the Financial CrisisJul 1, 2021 - 05:41:35 PDT
From the U.S. to the U.K. to China, housing is riding an extended boom. Global valuations are soaring at the fastest pace since 2006, according to Knight Frank, with annual price increases in double digits. Frothy markets are flashing the kind of bubble warnings that haven’t been seen since the run up to the financial crisis.
The renewed effort to dethrone the dollar is largely based on China’s technological prowess. It is banking that the development of the necessary financial infrastructure, the country’s world-beating mobile payment systems and a successful launch of the digital version of the renminbi will make it easier to use and promote the currency outside China’s borders.
Jul 1, 2021 - 05:33:15 PDT
“The people of China are not only good at destroying the old world, they have also created a new world,” said Mr Xi, China’s most powerful leader since Mao Zedong. “Only socialism can save China.”
Earlier this week, a federal court threw out an antitrust case against Facebook. The lawsuit filed by the Federal Trade Commission, along with 48 state governors, sought to force Facebook to divest itself of WhatsApp and Instagram, but the court said the FTC failed to prove that Facebook holds monopoly power. In his podcast, Peter Schiff said whatever problems Facebook may present, the only monopolies we should really be afraid of are the government-protected monopolies.
Lebanon Won’t Get a Bailout — But a Will To Reform Could Lead to Substantial Aid, U.S. Diplomat SaysJul 1, 2021 - 05:27:33 PDT
Lebanon's economic situation is facing "immediate catastrophe," according to a top U.S. diplomat.
International warnings about the seriousness of the crisis are increasing. The World Bank stated that "Lebanon is sinking," in a report published in early June, predicting that the economic crisis rocking the country will rank among the top three most serious crises globally in the past 70 years.
Each week the Pacific is getting even more crowded with military ships, submarines and aircraft from countries in the region and from outside. NATO countries — United Kingdom, France, Germany and the Netherlands — are sending military vessels and aircraft. The Russian navy conducted military maneuvers off Hawaii. The US is on the verge of creating a permanent Pacific naval task force as a part of its aggressive response to China’s naval presence in the Pacific.
Taiwan Lashes Out at Beijing After Chinese President Xi Jinping Pledges ‘Complete Reunification’Jul 1, 2021 - 05:13:10 PDT
The ruling Chinese Communist Party in Beijing claims that Taiwan is a runaway province that must be reunited with the mainland, by force if necessary.
The advance came ahead of an OPEC+ meeting, which will decide production policy for the second half of 2021.
The U.S. Labor Department is due to release the number of weekly jobless claims filed for the week ended June 26, at 8:30 a.m. ET on Thursday.
PALISADES RADIO SRSROCCO REPORT INTERVIEW: Stock Market Bubble, Inflation-Deflation, Precious Metals & Energy CliffJuly 1, 2021
As the U.S. stock market bubble gets even larger, Americans are totally unprepared for the coming ENERGY CLIFF. I sat down with Tom at Palisades Radio. I discussed the inflation vs. deflation debate, Americans being the most exposed to the stock market than ever, details of the Energy Cliff, and why...
The actions by the Federal Reserve over the past year have led many to assume that much higher inflation is a foregone conclusion. This leads to a further expectation that a much higher gold price is imminent. That sounds logical, but it is not that simple. There is a relationship between higher gold prices and
Gold Ends Higher Wednesday and for Second Quarter but Marks Loss for June and First Half of Year: MWJun 30, 2021 - 13:20:42 PDT
Gold futures turned positive Wednesday to end solidly higher for the session and quarter but finished the month and first half of 2021 with losses. August gold GCQ21, +0.40% closed up 0.5% at $1,771.60 an ounce on Comex. Bullion booked a June loss of more than 7% a roughly 5% gain in the second quarter and a 6.6% decline in the first half of the year.
Two agencies set up by Dodd-Frank could be a lot more useful than they have been. As the pandemic begins to recede, concern over financial stability should not. We don’t know what major shock will next hit the economy and financial system. But a process to scan for risks and adapt to them should be front and center.
Lumber Prices Dive More Than 40% in June, Biggest Monthly Drop on RecordJun 30, 2021 - 12:37:57 PDT
Lumber futures have tanked 42% in June alone, on pace for its worst month on record dating back to 1978.
Today is the first day that we see this prediction in action, and it will only get much worse: expect total repo usage to soar in the coming days, with the total inert cash parked at the Fed hitting north of $2 trillion in a few weeks.
General Mills Warns of Inflation, Readies for Shifting Consumer Behavior: WSJJun 30, 2021 - 12:31:28 PDT
The food maker, which generated $4.52 billion in sales for the latest quarter, anticipates logistics costs and expenses for raw materials to rise during its new fiscal year.