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Cumulative US inflation since 1970 to 2023 is 644.35%: Gold up 5,104%, Silver Up 1,058%Feb 24, 2023 - 07:17:25 PST
Say again gold and silver prices have not outperformed inflation with a straight face (Feb. 17, 2023).
Cumulative US Inflation Since 2000 Is 72.36%: Gold Up 540% Silver Up 302%Feb 24, 2023 - 07:12:51 PST
Precious Metals Percentage Growth Since 2000 (Feb. 17, 2023).
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Fed's Favorite Inflation Signal Prints Hot As Americans' Spending Surged In JanFeb 24, 2023 - 05:42:19 PST
After two months in a row of MoM declines in spending, consensus forecasts both spending and incomes grew MoM in January and they were right but income grew by only 0.6% (+1.0% exp) while spending rose more than expected (+1.8% vs +1.4% exp). That is the biggest monthly jump in spending since March 2021...
Feb 24, 2023 - 05:41:25 PST
The US Federal government reminds me of the Peggy Lee song “Is That All There Is?” Since the outbreak of Covid in 2020 and the absurb spending spree by Pelosi and Schumer, the Federal government has increased their debt by 36% to help pay for the Federal spending spree. That amounts to $54.8 TRILLION in additional Federal debt since January 2020.
Gold prices inched lower on Friday as investors fretted that a recent slate of stronger-than-expected economic data from the United States could make the Federal Reserve keep raising interest rates for longer.
Some of the world’s top investors are betting the worst of the dollar’s rampage is over after the surge upended the global economy in ways that had few parallels in modern history.
The dollar index rose to seven-week highs on Friday, as investors prepared for U.S. interest rates to stay higher for longer after a set of strong U.S. economic data.
Dominique Dwor-Frecaut, a former associate with the New York Fed, says the Fed needs to hike the fed-funds rate to 8% to stabilize inflation.
Chinese buyers are scooping up U.S. oil in a hurry, trying to take advantage of a “remarkable, profitable arbitrage” opportunity sparked by Biden’s SPR releases...
Money managers are fortifying portfolios and hedging the risk of a prolonged inflation fight by sticking to credit maturing in just a few years.
The request comes after commercial banks wired a net $2.3 billion to deposit accounts abroad in the first six weeks of the year, one of the people said, asking not to be named because the information is confidential. Hard-currency outflows are hampering efforts to keep the lira stable and inflation in check in the run-up to elections slated for May.
Chinese President Xi Jinping is set to bring decision-making of the financial system further under his control with the likely revival of a powerful committee to coordinate financial policy and the possible appointment of a key ally in a top position at the central bank.
The People’s Bank of China may have two new officials leading the central bank following a reshuffle of government positions next month.
Incoming Bank of Japan (BOJ) Governor Kazuo Ueda said on Friday the central bank must maintain ultra-low interest rates to support the fragile economy, warning of the dangers of responding to cost-driven inflation with monetary tightening. While signalling the chance of tweaking the BOJ's bond yield curve control (YCC) in the future, Ueda said the bank needed...
Global stocks and US stock-index futures fell as investors braced for data that may show accelerating inflation in the world’s largest economy. The dollar rose amid concern over disappointing earnings and geopolitical tensions.
Investors Are Dumping Equities and Cash Amid Fears of Hawkish Fed, BofA SaysFeb 24, 2023 - 05:15:14 PST
Investors are dumping equities and cash alike in favor of bonds as they position for the risk that the Federal Reserve persists with hawkish policy moves, Bank of America Corp. strategists said.
World shares limped toward their biggest weekly fall of the year on Friday, though investors took heart from a dip in government bond yields as the incoming Bank of Japan chief ruled out an early end to its super-easy monetary policy.
Comex Update: Palladium Contracts Represent 280% of Available Metal with 2 Days to GoFebruary 24, 2023
Gold deliveries in February came in quite low for a major month, totaling only 15,055. This is the lowest month going back to February 2020 (pre-Covid). The chart below shows the big spike in deliveries seen after Covid started. While the current month is still above any pre-Covid month, it is small when compared to some of the major delivery months seen recently.
The Federal Reserve came close but still fell short of its $95 billion per month balance sheet reduction target through the last full week in February. This means the Fed has fallen short in 8 of the last 9 months.And with rising interest rates coupled with even this modest balance sheet reduction, the Fed is also bleeding money.