Gold has all the potential to go unprecedentedly high. But silver will be gold on
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Money and gold have been related for thousands of years with the first gold coin minted around 700BC. Explore the history of gold as money here.
Despite Dismal Start To Commodities, Goldman Sees Delayed Surge In Replay Of 2007Feb 17, 2023 - 13:10:24 PST
...said that the only bright light on the otherwise drear 2023 horizon was in commodities which the bank said would "be the best-performing asset class once again in 2023, handing investors returns of more than 40%." The Wall Street bank said that while the first quarter may be “bumpy” due to economic weakness in the US and China, scarcities of raw materials from oil to natural gas and metals will boost prices after that.
U.S. consumer credit card debt has jumped to nearly $1 trillion, the Federal Reserve Bank of New York said on Thursday. Credit card balances increased more than $60 billion over the three months ending in December, lifting the total amount of U.S. credit card debt to an all-time high of $986 billion, the report found. The skyrocketing credit card balance has coincided with an...
You will often hear us talk about the market giving “risk on” or “risk off” signals.
In general, investors want to see “risk on” assets performing well. This includes tech stocks, growth stocks, small cap stocks, and high yield / junk bonds. Today, we focus on junk bonds… and wonder if the rally in the Junk Bonds ETF (JNK) is over.
Feb 17, 2023 - 12:04:44 PST
As legislators refuse to act, benefits will be cut without any possibility of sheltering those seniors who are poor.
A fiat money of the sort imagined here would subject the world to a dictatorship of socialistically inclined global bankers. As Polleit explains, only free market money in a “private law society” offers lasting refuge from the “dystopian nightmare” the globalists have in mind for us. Polleit’s book will encourage resistance to their plans.
In her article “Multinationals Make Obscene Profits Out of Global Crises—Tax Them to Defend Human Rights,” Magdalena Sepúlveda called for more taxation of multinational corporations and the rich as a means to finance policies that are aimed at protecting the most vulnerable from what she calls “the cost of living crisis.” In this piece, I would like to respond to Sepúlveda by saying...
Feb 17, 2023 - 11:49:05 PST
"By making the Fed so much more controlled by Washington, and removing even the appearance of private-sector influence, the proposed amendment could fatally weaken the Fed’s political legitimacy." ~ Dror Goldberg
The Congressional Budget Office (CBO) released its latest Budget and Economic Outlook today, projecting the nation’s fiscal and economic future over the next decade. CBO’s new projections update its May 2022 baseline to account for subsequent enacted legislation, executive actions, higher inflation, rising interest rates, slowing economic growth, and other legislative and economic factors. CBO’s new baseline shows:
Feb 17, 2023 - 11:39:16 PST
President Biden touts his economic plan as being a great success. But the data says otherwise. Real Disposable Personal Income, for examplge, was down -6.4% year-over-year (YoY) in 2022. That is the WORST reading since The Great Depression.
On Thursday afternoon, Federal Reserve Bank of Cleveland President Loretta Mester remarked that she saw a compelling case for a bigger increase earlier this month when policymakers met. Not much later in the day, her colleague James Bullard commented that he would not rule out supporting a 50-basis point hike at the March meeting.
Feb 17, 2023 - 08:31:15 PST
I created the graph in Excel manually typing in numbers as there is no data download from CME FedWatch.
US Leading Economic Indicators Tumble For 10th Straight Month, Signal Recession ImminentFeb 17, 2023 - 08:19:55 PST
The Conference Board's Leading Economic Indicators (LEI) continued its decline in January, dropping 0.3% MoM (vs -0.3% exp).
Feb 17, 2023 - 07:13:11 PST
Well, here we are again. Back to 2007 and the housing bubble and subsequent financial crisis. The US Treasury 6-month yield is back over 5%, a yield we haven’t seen since August 8, 2007. Well…
As inflation continues to eat into the budgets of American families, such is a recession signal that should not be dismissed.
What they mean is “monetary policy,” which is in fact very difficult to understand—given it effectively operates as a political program within the muddled field of macroeconomics. Monetary policy, unlike money per se, is ad hoc, highly technical, reliant on vast amounts of data, and dictated by political expediency.
Central banks have been buying gold in quantities not seen since 1967. After decades of efforts to demonetize gold, why would the guardians of the monetary system suddenly invest large sums into a metal that demands crippling mining costs and offers little return? The answer is not so simple.
Gold price comes under some renewed selling pressure on Friday and drops to a fresh YTD low during the first half of the European session.
Bitcoin fell the most in about a week as hawkish rhetoric from Federal Reserve officials and further signs of an aggressive US regulatory clampdown stirred caution.
On the one hand, Fed officials are more confident they will avoid a rapid slowdown or even a recession in the short term, which means a “soft” landing is still in sight. More unsettlingly, however, the central bank’s battle against high inflation appears far from over.