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IMF: El Salvador Bitcoin Move Raises Macroeconomic, Financial, and Legal IssuesJun 11, 2021 - 05:38:26 PDT
A spokesperson for the IMF has said that El Salvador’s decision to make bitcoin legal tender raises several issues that will require careful analysis.
After a week of anxious waiting, markets got the high U.S. inflation number they dreaded, then shrugged it off and moved on - leaving the U.S. dollar under pressure and most majors stuck in ranges.
Senate Group Reaches Infrastructure Deal Without Tax Hikes — But Leaders Still Need To Sign OffJun 11, 2021 - 05:20:37 PDT
Ten Democratic and Republican senators reached a deal on infrastructure but need to win over President Joe Biden and congressional leaders.
U.S.-China Relations Are ‘Still Deteriorating,’ Says Former U.S. AmbassadorJun 11, 2021 - 05:18:40 PDT
Max Baucus, former U.S. ambassador to China, said he was wrong to think that ties between Washington and Beijing could reset when Joe Biden becomes president.
10-Year Treasury Yield Falls Below 1.45% As Bond Market Shrugs Off Inflation ConcernsJun 11, 2021 - 05:16:05 PDT
Fed officials, including chair Jay Powell, have repeatedly stressed that high inflation readings are to be expected in the in the spring and summer but will likely be transitory. The central bank has said it is willing to let inflation run above its traditional 2% target as the economy recovers from the pandemic.
G-7 Leaders To Pledge 1 Billion Doses of COVID Vaccines to Low-Income NationsJun 11, 2021 - 05:12:50 PDT
The leaders of the G-7 are expected to step up donations of coronavirus vaccines this weekend as they try to ease concerns over vaccine nationalism.
Biden and G-7 Leaders Will Endorse a Global Minimum Corporate Tax of at Least 15%Jun 11, 2021 - 05:11:00 PDT
The Global Minimum Tax represents a concrete step for the Biden administration towards the goal of crafting a "foreign policy for the middle class."
CDC To Hold "Emergency Meeting" After 100s Suffer Heart Inflammation Following COVID VaccinesJun 11, 2021 - 05:09:24 PDT
The Centers for Disease Control and Prevention announced Thursday that it will convene an "emergency meeting" of its advisers on June 18th to discuss rare but higher-than-expected reports of heart inflammation following doses of the mRNA-based Pfizer and Moderna COVID-19 vaccines.
Gold Settles Up for a Second Session As Pace of U.S. Inflation Hits 13-Year High: MWJun 10, 2021 - 13:01:40 PDT
Gold futures settled modestly higher on Thursday as government data showing that the pace of U.S. inflation climbed to a 13-year high in May prompted prices to tally a second straight gain.
Eleven years ago, we reported Abu Dhabi’s Emirates Palace Hotel had installed the world's first physical gold ATM. And today, GoldSeek.com's Peter Spina reports that the first physical Gold bullion ATM in the Czech Republic has been launched in the center of Prague with the company looking to add more in the near future.
Government red ink for the month was just below $132 billion, the lowest shortfall of the year but still enough to put the total deficit at $2.063 trillion.
Hook, Line & Sinker: Markets Have Bought the 'Transitory' Inflation NarrativeJun 10, 2021 - 12:49:54 PDT
Join Mike Maloney, Jeff Clark and Adam Taggart as they discuss some of the latest news including inflation expectations, Bitcoin as legal tender and housing priced in gold. It’s all here in today’s video update, thanks for watching.
France's Macron Urges G-7 To Sell Gold Reserves To Fund Bailout For AfricaJun 10, 2021 - 12:30:50 PDT
Building on comments from earlier in May, when Macron hosted African leaders and the heads of multilateral lenders to find ways of financing African economies hurt by the COVID-19 pandemic and discuss handling the continent's billions of dollars debt; the French President had an interesting suggestion for how to fund the bailout.
Jun 10, 2021 - 12:08:54 PDT
A new study finds that as the government expands, the private sector shrinks.
As Fed Taper Looms, Global Central Banks Eye Their Own Exits From StimulusJun 10, 2021 - 11:52:58 PDT
Haunted by memories of past U.S. interest rate hikes, the world's central banks are laying the groundwork for a transition to life with less global stimulus, with many countries already signalling moves to the exit.
The world’s food-import bill is expected to climb to an all-time high this year, with the soaring cost of staples hitting poor nations particularly hard and threatening to fuel global inflation.The cost of importing food is set to rise by 12% to $1.72 trillion, led by increases in grains, vegetable oils and oilseeds, the United Nations’ Food & Agriculture Organization said...
A review of defense policy on China recommends ways to close the gap between the objective of countering Beijing and having the ability to do so.
World’s Richest Face Tax Blow After 40% Wealth Surge to $8.4 Trillion: BloombergJun 10, 2021 - 11:38:07 PDT
“For too long there has been a global race-to-the-bottom in corporate tax rates,” Yellen said following the G-7 finance ministers’ meeting in London last week, ahead of this weekend’s gathering.
Joe Biden will use this week’s G7 summit to encourage allies to join Washington in taking a harder stance towards Beijing, as the US president capped a string of recent actions with an executive order to boost scrutiny of Chinese software and apps.
Shanghai on Wednesday night released the names of nearly 700 shops that support digital currency pilots, including major commercial circles such as Xintiandi, Yu Garden and Nanjing Road near the Bund. The pilot program aims to pave the way for establishing a digital currency payment environment.