Gold has all the potential to go unprecedentedly high. But silver will be gold on
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Precious metals news
Some 9 months ago, when silver was hitting its 2022 lows, the consensus view was that gold & silver would start an epic crash. We said something entirely differently: One Silver Chart Justifies ‘Buy The Dip’ For Long Term Positions. Silver bottomed in that same week, the rest is history. What’s interesting is that we used the gold to silver ratio for our forecast. Where does this ratio stand today, and what does it tell us about our silver forecast and gold forecast?
The gold price is hovering at near all-time highs as demand remains robust despite rising interest rates making other assets such as bonds more attractive. Recent market trends have fuelled speculation that even at current elevated prices, gold is being quietly stockpiled by central banks in China and Russia.
Leading analytics platforms such as Nansen and DefiLlama have all measured increased exchange outflows from Binance over the past seven days after news of the Securities and Exchange Commission’s lawsuit against the firm hit the airwaves.
Cryptocurrencies resumed losses Monday, though staying above their weekend lows, as last week’s regulatory crackdown by the US Securities and Exchange Commission weighed on sentiment.
Saudi Crown Prince Mohammed bin Salman warned the US would suffer economic consequences if President Biden retaliated for OPEC oil cuts that were announced last fall, The Washington Post reported. The Post report cited a document allegedly leaked to Discord by Airman Jack Teixeira, although it did not publish the document.
The world's nuclear powers, and China in particular, increased investment in their arsenals for a third consecutive year in 2022 amid swelling geopolitical tensions, two reports showed Monday.
Xi Prepares China for ‘Extreme’ Scenarios, Including Conflict with the West: WSJJun 12, 2023 - 12:39:58 PDT
As Beijing and Washington move gingerly toward restoring high-level exchanges, Xi Jinping is stepping up his effort to gird China for conflict.
Goldman Sachs Group Inc. Chief Executive Officer David Solomon said the Federal Reserve could still push interest rates higher as inflation remains stubbornly persistent.
The city’s lodging business has been squeezed by crime and other quality-of-life issues. San Francisco’s once thriving hotel market is suffering its worst stretch in at least 15 years, pummeled by the same forces that have emptied out the city’s office towers and closed many retail stores.
US paper mills are scaling back production as big-box retailers buy less cardboard, signaling a slowdown in consumer spending.
The pace of contraction is likely to quicken as the US Treasury rebuilds its account after the debt-ceiling deal, and the Fed runs down its balance sheet (QT). JP Morgan estimates that they will together drain $1.1 trillion of liquidity from the financial system over the next four months. Most of this will come from bank reserves, risking fresh trouble among struggling regional lenders. Could there be an M2 melt-down by September? Yes, there could. Whatever happens, US inflation is coming down.
Jun 12, 2023 - 09:34:17 PDT
So where do we sit today after Biden has signed the debt ceiling increase and massive spending splurge? First, look at the crashing bank deposit problem. Well, the solution is for The Fed to fire up the money printing press! Keep on printing!
Powell Caught in One Heck of a Squeeze: D, All of the Above is Also PossibleJun 12, 2023 - 09:32:33 PDT
Debt has a nasty habit of ruling the financial world of any entity, whether it’s a household, business or nation.
Jun 12, 2023 - 09:31:27 PDT
Tomorrow is the Federal government’s inflation report. As it stands today, overall inflation is slowing as M2 Money growth crashed. Core inflation remains persisitently high (white line), rent is still getting worse (orange dotted line at 8.1% YoY. What about food? Online food prices are up 8.2% YoY.
Federal Reserve policymakers are about to take their first break from an interest-rate hiking campaign that started 15 months ago, even as they confront a resilient US economy and persistent inflation.
So it’s obvious how Oxy intends to make this pencil out, given that the implied cost of carbon capture amounts to $90 to $180 dollars per barrel of oil equivalent. That is, the taxpayers will fork-over the cost!
WEF's latest agenda item is to drastically cut the number of personal vehicles globally from 1.45 billion to 500 million by the year 2050.
It remains to be seen if production can keep up with projected needs. Even if so, at what cost? The US is still heavily dependent on China. And few have bothered to factor in extractions costs, supply, and battery storage needed to make this work. This is my brief synopsis of a 144-page document. The inflation Reduction Act is guaranteed to do the opposite.
Ours is a neofeudal economy of financial serfs in servitude to a Financial Aristocracy. The Financial Nobility / Aristocracy own all the debt and the serfs owe the debt to the Aristocracy. The serfs own assets that don’t generate much income, the Aristocracy owns assets that generate trillions of dollars in income.
The global risk premium has increased dramatically and is increasing in an unpredictable arc. This structural trend of higher risks will reprice everything.