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No Matter How You Turn It, The Global System Is Already Doomed: Got Gold?Feb 10, 2023 - 06:02:50 PST
Below we look at the interplay of embarrassing debt, dying currencies and failed monetary fantasies masquerading as policies to confirm that no matter how one turns or spins the inflation/deflation, QT/QE or recession/no-recession narratives, the global financial system is already doomed.
What began as a trickle is now a flood: the US government is using the banking sector to organize a sophisticated, widespread crackdown against the crypto industry. And the administration’s efforts are no secret: they’re expressed plainly in memos, regulatory guidance, and blog posts. However, the breadth of this plan — spanning virtually every financial regulator...
U.S. Government Borrowing Costs Rise as Debt Ceiling Fuels Partisan ClashFeb 10, 2023 - 05:59:14 PST
Republicans and Democrats disagree on whether the U.S. debt load is manageable.
The only other instances that half or more felt this way was in 2008 and 2009.
U.S. home prices rose in the fourth quarter from a year earlier, but once-booming West Coast markets were among a growing number of metro areas to post price declines.
Japan's ticking debt time bomb will likely complicate the next central bank governor's task of steering a smooth exit from ultra-loose monetary settings, with rising long-term interest rates already forcing policymakers to amend budget projections.
Mexico’s inflation accelerated roughly in line with expectations in January, giving policymakers little room for maneuver at the central bank’s first interest interest rate decision of the year later on the day.
Japan Expected to Name Kazuo Ueda, Backer of Zero Rates, as Central Bank HeadFeb 10, 2023 - 05:41:02 PST
The expected nominee to lead the Bank of Japan, an advocate of aggressive monetary policy, said he wanted to continue the low-rate stance of the current governor.
Wall Street is the most bearish on Bank of America Corp. since 2015 after the bank received its fourth analyst recommendation downgrade in a month.
Mortgage rates in the US rose for the first time in more than a month.
\Next week’s US inflation data will mark a turning point for the equity rally at a time when investors are swapping stocks for bonds amid the specter of a recession, according to Bank of America Corp. strategists.
China’s consumer inflation accelerated last month as the country reopened and the Lunar New Year holiday spurred demand, although gains remain muted enough for the central bank to keep easing monetary policy to support the economy’s recovery.
US government bond investors pushed two-year yields above 10-year yields by the widest margin since the early 1980s Thursday, a sign of flagging confidence in the economy’s ability to withstand additional Federal Reserve interest-rate hikes.
Contracts on U.S. stock gauges fell, with Tesla Inc. and Big Tech names in the red in premarket trading. Lyft Inc. tumbled after its outlook disappointed analysts. European equities extended their worst weekly drop in nearly two months, while the region’s bonds also fell.
You've probably heard the saying that history might not repeat, but it often rhymes. If that's true, looking back at the runup to the 2008 financial crisis and Great Recession should cause concern. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey looks at some of the parallels between then and now. He also digs deeper into the January jobs report and explains why you should be skeptical.
US & WORLD FINANCE PONZI IN SERIOUS TROUBLE: Surging Debt Service Devouring Economic Activity & Impacting GDPFebruary 10, 2023
The World's Great Ponzi Scheme in history is in serious trouble as surging debt service negatively impacts economic activity and GDP. Unfortunately, this situation only worsens as the world heads over the Energy Cliff. You would be surprised at how large the world's annual interest expense was last year...
All investment markets are predictive mechanisms — crystal balls, if you will, that discount future events by pricing assets today. But even though every market attempts to anticipate the future, none seem to do it as well as gold, asserts junior gold mining expert Brien Lundin, editor of Gold Newsletter.
Feb 9, 2023 - 13:09:21 PST
The legislation would take steps to treat gold and silver as money in Missouri and encourage its use as such, including making it legal tender, and eliminating the state capital gains tax on gold and silver. It also prohibits any entity of the state from requiring payment in the form of any digital currency, including a central bank digital currency (CBDC).
Gold has been regarded for a long time as a safe haven commodity that investors and governments use to protect their wealth. While the metal posted a small gain in 2022 for investors in the U.S., it posted significant gains against other currencies. This graphic based on data from the World Gold Council assesses gold’s price performance against major currencies in 2022.
The village of Tanohata, Iwate Prefecture, said Wednesday it has received a donation of 120 gold bars worth ¥500 million from a person who requested anonymity.