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 0.06%, which was less than expected. That said, as the chart below shows, the fall in Energy prices was entirely responsible for containing an otherwise high CPI.
Gold stocks are pushing higher. Last checked, the metal was up another $11 to $2,003.57, and could see higher highs. Helping, “The biggest banking crisis since the Great Financial Crisis of 2008 prompted investors to flee into gold last month, ending ten consecutive months of outflows, according to the latest report from the World Gold Council,”
Fallout from the U.S. banking crisis is likely to tilt the economy into recession later this year, according to Federal Reserve documents released Wednesday.
Fed Officials Fretted Bank Turmoil Could Have Serious Economic ConsequencesApr 12, 2023 - 13:00:51 PDT
Minutes from the Federal Reserve’s March 21-22 meeting showed that officials were grappling with how much more to lift borrowing costs.
Several Federal Reserve policymakers last month considered pausing interest rate increases after the failure of two regional banks and a forecast from Fed staff that banking sector stress would tip the economy into recession.
US Credit and Debit Card Spending Slows to Weakest Pace in Two Years, BofA Says: BloombergApr 12, 2023 - 12:58:26 PDT
Weakness was broad-based across goods, services in March Slower wage growth, lower tax returns weighed on card spending...
Kirby Addresses Pentagon Leak Showing US Special Forces On Ground In UkraineApr 12, 2023 - 12:52:00 PDT
Do the fresh Pentagon leaks show that the US is hiding something when it comes to 'boots on the ground'? It appears so.
Apr 12, 2023 - 12:48:44 PDT
San Francisco Fed President Mary Daly issued her first comments since the failure of Silicon Valley Bank.
Gold jumped on Wednesday as signs of cooling inflation bolstered bets that a pause in U.S. rate increases was imminent, although traders positioned for one more hike in May with minutes from the Federal Reserve's March meeting also in focus.
FOMC Minutes Show Staff Expect 'Mild Recession', All Members Backed Continued QT, 25bps HikeApr 12, 2023 - 11:14:22 PDT
So the big question from the Minutes is whether there is real sentiment for that hawkish median dot-plot (sticky inflation) or are Fed members leaning more to pause and hold (systemic threats and slowing inflation)?
Most analysts have been expecting the price of shelter to come down. I have not been in that camp and still are not, although we are getting closer to smaller increases.
Looking all the way out to march of 2024, the weighted average expectation barely changed as well. Yesterday, the expectation was 4.05 percent and today it's 3.98 percent.
Mike Maloney has just released a new video that you won't want to miss with Daniela Cambone from Stansberry Research.
Yellen’s Comments Create the Worst of All Possible Worlds for Banking IncentivesApr 12, 2023 - 08:30:21 PDT
Over the last 40 years, there has been a clear trend of bigger banks taking over the industry. Recent comments by Treasury Secretary Janet Yellen threaten to accelerate the trend of banks which are "too big to fail."
With Inflation Stubbornly High, 58% Of Americans Are Living Paycheck to PaycheckApr 12, 2023 - 08:14:24 PDT
With inflation stubbornly high, more than half of all Americans are living paycheck to paycheck, according to a new report.
Apr 12, 2023 - 07:50:46 PDT
The reality is that the 25 largest domestically-chartered commercial banks in the U.S. have been bleeding deposits for most of the past 12 months, shedding more than $700 billion in deposits between April 13, 2022 and March 29, 2023. To put that in even sharper focus, all U.S. domestically-chartered commercial banks have lost a total of $970 billion during the same time period. That means that the largest 25 banks account for a whopping 72 percent of the plunge in deposits over the past year. (See chart below.)
Trouble in Multifamily CRE: Two Big Messes, and Investors Are on the Hook, not BanksApr 12, 2023 - 07:46:19 PDT
A REIT specializing in CRE loans foreclosed on 3,200 apartments in Houston. CMBS investors hit by default of 62 multifamily buildings in San Francisco.
Project Icebreaker: The Beginning Of A One World Digital Currency System?Apr 12, 2023 - 07:43:34 PDT
There has been extensive discussion in the past couple of years within alternative media circles about the dangers of Central Bank Digital Currencies (CBDCs); a currency framework very similar to blockchain based products like Bitcoin but directly controlled by central bankers. It’s a threat that some analysts including myself have been writing about for more than a decade, so it’s good to finally see the issue being addressed more in the mainstream.
The most likely path for the dollar from here is one of slow decline.
Public debt is higher and growing faster than projected before the COVID-19 pandemic, driven mainly by the United States and China, the world's two largest economies, the International Monetary Fund's top fiscal expert said on Wednesday.