Gold has all the potential to go unprecedentedly high. But silver will be gold on
Site:
Precious metals news
House prices are sliding, and sales are plunging as the Federal Reserve hits the pause button on quantitative easing this year with the most aggressive interest rate hikes in four decades to cool the red-hot housing market spurred by low interest rates and tight inventories during the pandemic.
The State Department said Tuesday that the US and Russia have agreed to hold talks on the New START nuclear arms control treaty for the first time since the February 24 Russian invasion of Ukraine. State Department spokesman Ned Price said a meeting of the bilateral consultative commission (BCC), an implementation body established by the …
Nov 9, 2022 - 12:18:59 PST
If last year’s holiday shopping season was characterized by empty store shelves and a race to meet demand in a healthy US economy, very different concerns have emerged just 12 months later: overabundance and sinking sales.
The crypto industry is known for dramatic twists, roller-coaster prices and fortunes that appear and disappear overnight. But even by crypto standards, what happened on Tuesday was bonkers.
The rapid collapse of the cryptocurrency exchange built by the billionaire Sam Bankman-Fried suggests that no company in the freewheeling, loosely regulated crypto industry is safe.
The crypto exchange is expected to walk away from deal to buy a collapsing competitor following a review of its structure and books, according to a person familiar with the matter.
FTX’s crisis is a reminder of what is right about traditional finance.
Nov 9, 2022 - 11:48:23 PST
"I think the market says he's gotta flip sometime," Siegel said. "He will see the light, it's just taking him a little longer."
It’s been a rough year for advocates of Modern Monetary Theory (MMT). After nearly two years with all the budget deficits and money printing MMTers could have wanted, the doctrine’s popularity seems to have faded now that we’re well passed the honeymoon phase.
Ron Paul(R) wants to End the Fed. Elizabeth Warren(D) begs the Fed, along with Bernie Sanders(I) and nine other Congress persons who signed a Halloween dated letter to Fed Chair Jerome Powell(R), scrutinizing his intent to keep hiking rates. Incidentally, a few days ago Sherrod Brown(D) also wrote to Powell pleading for market intervention....
The chart illustrates the value of the mining stock sector relative to the general stock market only two previous times over the last 21 years.
After yesterday's average $40bn 3Y Treasury sale, there wasn't much angst ahead of today's refunding sale of $35BN in 10Y paper (Cusip FV8). Well, there should have been because the just concluded sale of 10Y notes was gruesome.
Spot gold was flat at $1,712.09 per ounce at 10:33 a.m. EST (1533 GMT). U.S. gold futures rose 0.2% to $1,718.80 per ounce.
In a recent essay, I explained how over time the US abused its responsibility to control the supply of dollars, the world’s premier reserve currency for settling international trade accounts among nations.
While the much-touted differences between America's political parties get obsessive, hysterical attention, the sameness of Imperial corruption, waste and squalor regardless of who's in power gets little notice. Scrape away the differences--mostly in domestic issues--and we see the dead hand of Imperial Corruption is on the tiller.
The midterm elections are now over, so let’s go back and look at economic news, rather than listening to election hysteria. The net percentage of domestic banks tightening standards for small, large, and middle-market firms is tending towards recession. Note that M2 Money YoY has collapsed.
Nov 9, 2022 - 07:43:51 PST
Biden’s magic trick was to turn the economy into a train wreck. Example? The 30-year mortgage rate was 2.88% on Biden’s inauguration day (January 20, 2021). They are now 7.32%, a 154% increase under Biden.
Nov 9, 2022 - 07:41:38 PST
In the space of 24 hours, there have been more than $830 million in liquidations recorded across the crypto market. It marks the second-largest liquidation event recorded so far in 2022, only coming out slightly under the October liquidation numbers.
Gold prices, on Wednesday, eased off the one-month peak hit in the previous session, as the dollar edged up, although investors held off on big bets ahead of U.S. inflation data later this week that could steer the Federal Reserve's rate hike strategy.
FedEx Parks Planes, Maersk Cancels Sails: World Trade Appears To Be Rapidly Deteriorating Nov 9, 2022 - 05:52:19 PST
Economic storm clouds are gathering worldwide as some of the largest shipping companies warn about sliding global trade. US shipper FedEx and Danish shipping giant A.P. Moller-Maersk A/S have been vocal about emerging signs of a global slowdown. Both of these companies are widely seen as a barometer for international trade.