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Jun 24, 2021 - 12:47:39 PDT
A former Deutsche Bank precious-metals trader was ordered to serve one year and a day in prison for manipulating gold and silver prices with bogus “spoof” trade orders between 2008 and 2013.
The ‘Great Reset’ is coming - but what is it? What role will the ‘SDR’ play? What does it entail for holders of precious metals? Join Mike Maloney, Mr Jeff Clark and Adam Taggart as they discuss the latest news from around the world.
In this second blog of our financial history series, we go through the development of banking from that of early money exchangers to the rise of the ‘shadow banking’ sector, and we explain how the modern banking system operates.
What is money? How is it created? In this first look into the development of financial systems, we map out the history of money.
Good news, everyone, the inflation that Americans are witnessing daily is temporary. That is, at least, what our enlightened technocrats at the Federal Reserve are desperately trying to convince the rest of the world of. The latest reassurance that there is nothing to be concerned about comes from Atlanta Federal Reserve Bank president Raphael Bostic...
Jun 24, 2021 - 10:39:02 PDT
Treasury Secretary Janet Yellen urged Congress Wednesday to address the debt ceiling immediately, in order to keep the U.S. from defaulting on its financial obligations.
Federal Reserve Bank of Dallas President Robert Kaplan said on Thursday he sees "upside risk" to his forecast for 3.4% inflation this year and 2.4% inflation next year, as supply-demand imbalances may persist longer than anticipated.
Inflation may be even stronger in coming months than Federal Reserve policymakers currently expect as the U.S. recovery likely gains steam in the fall and a global recovery follows, St. Louis Federal Reserve president James Bullard said on Thursday.
Jun 24, 2021 - 10:17:56 PDT
I call this the Everybody’s Everything asset bubble. Take a look at Robert Shiller’s CAPE (Cyclically-adjusted Price-Earnings) ratio. It has been rising ever since The Federal Reserve a…
Jun 24, 2021 - 10:11:31 PDT
I call this the “Great Slosh.” (Bloomberg) — Usage at the Federal Reserve’s facility for overnight reverse repurchase agreements Wednesday surged to a new record hi…
Jun 24, 2021 - 10:05:01 PDT
For many elected Democrats, infrastructure is much more than roads, bridges, dams, and waterways.
Retailers willing to battle ecommerce will find “ample availability” – shuttered stores dotting the sidewalks – and much lower but still very high rents.
Jun 24, 2021 - 09:35:10 PDT
Fueled by negative real interest rates, the Fed has blown another housing bubble.
Jun 24, 2021 - 09:32:47 PDT
National Guardsmen just completed a two-week training exercise which saw them respond to a simulated cyberattack that took out critical utilities across the United States. The exercises have become an annual event, but this year took on even more significance after coming on the heels of several major ransomware and cyber attacks that crippled large parts of American infrastructure in recent months.
The Federal Reserve Chair Says the United States Needs ‘More Inclusive Prosperity.’: NYTJun 24, 2021 - 08:52:44 PDT
What we’re seeing now, we believe, is inflation in particular categories of goods and services that are being directly affected by this unique historical event that none of us has lived through before, called re-opening the economy after closing it. So you see extremely strong demand for labor, for goods, for services. And you see the supply side caught a little bit flatfooted in trying to catch up.
The U.S. Federal Reserve’s interest-rate decisions have big repercussions for the country and the world. Yet the short-term interest rate it targets — known as the federal funds rate — no longer plays a meaningful role in the economy, and requires occasional fiddling to keep it in line.
As Federal Reserve Chair Jerome H. Powell and Treasury Secretary Steven Mnuchin scrambled to save faltering markets at the start of the pandemic last year, America’s top economic officials were in near-constant contact with a Wall Street executive whose firm stood to benefit financially from the rescue.
Call it the result of a financial Frankenstein monster cobbled together from the remnants of haphazard easy fiscal and monetary policies. Some from history, several born of politics, others created out of sheer panic to do anything to prevent long-term devastation during the pandemic. Confusingly, Fed Chairman Powell remains hesitant to taper the purchase of mortgage and corporate bonds, although the sectors are not in crisis. As a matter of fact, they’re flush.
As I sat down to write this month’s article, just one topic came to mind: inflation. The question is why now and will bondholders care?
Overall, the data was largely meaningless not only because it is extremely stale but because there has been a huge change between Q1 and Q2, and as such what happens in the second quarter and even more importantly, Q3, is all that matters not only for markets but also for the Fed.