Gold has all the potential to go unprecedentedly high. But silver will be gold on
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In this week’s Live from the Vault, Andrew Maguire drills down into the major structural changes within the options market, exposing COMEX machinations that were forcing gold to fall into the predetermined price range for decades.
The role of commercial banks in money creation is made more clear by the fact the Fed& is primarily interested in creating demand deposits rather than cash. This creates a larger foundation on which commercial banks can pyramid a multiple creation of bank deposits, or "checkbook money."
Continued inflation inevitably leads to catastrophe. —Ludwig von Mises Consumers’ behaviors cause the consumer price index (CPI) broad heading of food to understate the real or wallet level of inflation.
Departures from systematic monetary policy distort behavior in ways that cause misalignments between financial quantities and real economic quantities, and as a result, they invariably produce damage as the two are ultimately realigned.
Our very own George Gammon thinks bad things are in store for the American economy.
With Biden expected to announce his campaign as soon as this week, there is little enthusiasm to see the 80-year-old grace the national stage again after years of verbal gaffes and odd behavior.
"Business Has Gotten Stupid Slow" - Dallas Fed Manufacturing Survey Slumps To Post-COVID LowsApr 24, 2023 - 12:37:22 PDT
The Dallas Fed Manufacturing survey for April printed considerably below expectations. Analysts expected a rebound from -15.7 to -11.0 but instead the headline index plunged to -23.4 (just shy of post-COVID-lockdown lows). That is the 12th straight month of 'contraction' in the survey.
Let's tune into a mass exodus of deposits at banks for money market mutual funds and what it means.
The 3-month to 1-month T-Bill spread is the largest in history. Simultaneously we have record or near-record inversions on bellwether spreads.
Let's take a look at beneficiaries of the Inflation Reduction Act and the number of jobs created by some of the projects.
70 Percent of Americans are Financially Stressed, 58 Percent Live Paycheck to Paycheck
Central Bank Gold Buying At Highest Since 1950s, As 30% Of World Economies Are Now Sanctioned By The G7Apr 24, 2023 - 09:52:41 PDT
Optimists were assaulted by Friday’s data, the Eurozone manufacturing PMI down to 45.5 despite subsidies, stimulus, and lower energy, and the US only 50.4 despite being ‘back in the factory business’. Services PMIs were better but that’s where much core CPI is located, so suggested stagflation; as did Japan’s core CPI at 3.8% y-o-y; as did UK retail sales with food prices at...
Apr 24, 2023 - 09:32:47 PDT
The Biden administration’s claims of deficit reduction come in stark contrast to the president and his team, having added $4.8 trillion to the deficit through 2031.
Apr 24, 2023 - 09:31:22 PDT
This is life under Joe Biden. Record sovereign risk, record high debt, near 40-year highs in inflation, a hot war in Ukraine with Russia, failure of DOJ/FBI to do anything about the content of Hunt…
On Basco Island South of Taiwan, U.S. Military Prepares for Conflict With ChinaApr 24, 2023 - 09:28:14 PDT
The drills, part of the largest-ever annual military exercises with the Philippines, focus on defending the Bashi Channel, a key transit point for the Chinese and American militaries.
Inflation in assets inevitably leads to a burst of bubbles. In the period when central banks were glad to see limited consumer price increases despite large increases in the money supply, they created massive inflation in assets. Throughout the quantitative easing era, bond prices spiked, equity valuations soared, house prices increased significantly above affordability levels, and...
Apr 24, 2023 - 09:14:47 PDT
A lending squeeze is a "very significant wild card [with] a downside risk that we are very, very focused on," top economist Nathan Sheets said.
Why Washington and Wall Street Are Worried About the ‘De-dollarization’ ThreatApr 24, 2023 - 09:13:14 PDT
A "de-dollarization" mania is gripping Washington and Wall Street.
The Russian Foreign Minister, Sergey Lavrov is on a Latin American tour and has been meeting with the Brazilian President and Foreign Ministers. Catching up with his Bolivian counterpart Rogelio Mayta in the Venezuelan capital Caracas, Lavrov and Mayta have introduced a new trade transaction system to drop the US dollar and Euro and carry[.....]
Back before clocks went digital, you could say “a stopped clock is right twice a day” and even youngsters would know what you meant. A mechanism could be nonfunctional but occasionally correct.