Gold has all the potential to go unprecedentedly high. But silver will be gold on
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The CPI rose in March by 0.37%, which was much larger than last month’s 0.06%. As shown below, this was driven by the energy component flipping from negative to positive.And there's even worse news. The math is about to turn on the CPI calculation.
Silver remains below its all-time high while gold is trading near its record levels. If the gold/silver ratio drops below 78, it could give silver a sustainable bullish trend and potentially push it towards multi-year highs.
May 10, 2023 - 13:14:56 PDT
Central banks around the world are searching for ways to end their reliance on the US dollar’s world reserve status, leading economies are now diversifying their foreign exchange reserves and allocating to gold at an unprecedented rate, according to Ruchir Sharma, Chairman of Rockefeller International and former Morgan Stanley executive.
Gold to Eventually Move to New Record Highs Post Current Ranging Phase: Credit SuisseMay 10, 2023 - 13:11:28 PDT
Gold broke to new highs last week, before reversing sharply lower on Friday. Economists at Credit Suisse stay biased towards an eventual move to new record highs above $2,070/75.
"It's a gigantic snowball all over the world. We cannot even keep up with it,” Pepe Escobar said in an interview with the New Rules podcast. “It's very important what is going to be discussed at the BRICS summit in South Africa. This will probably be the crossroads moment where things are going to then go."
Argentina’s fight to prevent its problematic currency from a total meltdown is leaving the central bank, by some estimates, broke.
'The Fed Will Not Raise Rates Again': Bond King Jeffrey Gundlach Says Rate Hikes Are DoneMay 10, 2023 - 12:37:05 PDT
The Federal Reserve announced another 25 basis point rate hike last week, bringing the federal funds rate to its highest level since 2007. But according to DoubleLine Capital Founder Jeffrey Gundlach, this should mark the end of the U.S. central bank’s hawkish stance. “The Fed will not raise rates again,” he said in a tweet. This is not the first time for Gundlach to predict that the Fed will pivot. “I predict the Federal Reserve will be cutting rates substantially soon,” he said...
The US federal government’s budget surplus for April was down 43% from a year ago, thanks to a slide in tax revenues for the month that annual household filings are due.
A declining rate of inflation is obviously good news, but past inflation is locked in—and wrecking family budgets.
Bank of America data shows cracks in wage growth and discretionary spending among higher-income households.
"We’ve reached a point where the political class’s primary concern is no longer doing what’s best for the economy, but getting around the letter of the law while fooling the public as to what they’re really doing." ~ Antony Davies
We often hear about the Federal Reserve's 2% inflation target, but why target a rate of inflation, and why not target 0%? There are a few common justifications for this long-standing policy.
How a warming planet — and a graying population — could keep inflation high for years.
May 10, 2023 - 11:54:57 PDT
A team of four highly-credentialed academics at four separate universities present compelling evidence that one of the four largest U.S. banks, with “assets above $1 trillion,” could be at risk of a bank run.
May 10, 2023 - 11:53:46 PDT
Since the banking crisis began making headlines at expensive media real estate, the narrative has been that deposits are fleeing the small commercial banks and flooding into the biggest banks that are perceived as too-big-to-fail and thus offer a safer venue for deposits.
China’s faltering recovery implies US CPI’s downwards trend is unlikely to reverse soon enough to prevent the Fed from cutting rates early. We’re coming to the crunch point.
May 10, 2023 - 07:51:46 PDT
Resident Biden has been an unmitigated disaster for the US middle class, but fantastic for BIG corporate America and the donor class. Mortgage applications increased 6.3 percent from one week earli…
What Are Older Office Towers Worth? Here’s the First Sale in San Francisco’s New Era of Office CREMay 10, 2023 - 07:36:51 PDT
Union Bank made a deal to sell its tower at 75% off original listing price, setting the first new benchmark. Other towers waiting in the wings.
By assisting in the apprehension of Teixeira, the Fourth Estate shows it’s not very interested in government transparency or accountability. The media are happy to play the role of plumbers, so long as they maintain their perch.
May 10, 2023 - 07:27:53 PDT
The Biden administration on Tuesday announced a new $1.2 billion weapons package for Ukraine that includes additional 155mm artillery ammunition and air defense systems. The massive package is being provided through the Ukraine Security Assistance Initiative (USAI), which allows the Pentagon to purchase military equipment for Kyiv...