Gold has all the potential to go unprecedentedly high. But silver will be gold on
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Precious metals news
Oct 31, 2022 - 11:34:27 PDT
The housing and mortgage markets are suffering with impending recession and Fed monetary tightening. MBS returns extended their negative run during their worst year on record as 10-year Treasury yields topped 4% and the trend in MBS spreads widened.
Oct 31, 2022 - 11:30:28 PDT
The next Federal Reserve Open Market Committee (FOMC) meeting in on Wednesday, November 2nd. Let’s see what The Fed does with its BIG GREEN BAG … OF MONEY. As I set here on Sunday morning waiting to see how the Cleveland Browns will lose to cross-state rival Cincinnati Bengals, I see that both the US Treasury 10yr-2yr and 10yr-3mo yield curves are inverted (below zero).
The closest thing to a guarantee in finance is the truism that recessions always follow Treasury bond yield inversions, where short-term bond yields exceed longer-duration bond yields.
Raging inflation knocked out the “Fed put,” and banks are no longer on the hook for mortgages; taxpayers and investors are.
Almost 8 Out Of 10 Americans Say Things Are "Out Of Control"; New Poll FindsOct 31, 2022 - 10:57:56 PDT
A new CBS News Battleground Tracker/YouGov poll has found that a whopping 79 percent of Americans believe the country is “out of control” ahead of the mid term elections.
The central bank is now paying out more in interest expenses than it earns in interest income.
Oct 31, 2022 - 10:52:01 PDT
The long-range heavy bombers will be provided as part of a $1 billion-plus upgrade of military assets across northern Australia.
Investors just got over a hectic week, contending with a blitz of earnings from some of America’s biggest companies as well as a pile of uncertain economic and geopolitical news. But what’s coming may be even worse.
As investors weigh conflicting economic data and the prospects for a Fed pivot, precious metals markets are quietly basing out. This week gold made a small move to the upside before pulling back here today. As of this Friday recording the monetary metal is registering a weekly loss now of 0.8% to bring spot prices to $1,651 per ounce.
Now Secretary of the Debt Janet Yellen says she wants to buy back 20-year treasuries. Rafi Farber has a question about this. How in the name of math do you buy back $1.4 trillion in debt with only $600 billion in your bank account at the Fed? The answer: By selling even more short term debt, which have even higher yields than what you're buying back, because the yield curve is...
People have the right to offer competing monies, as Hayek advocated. But Murray thought they would be unlikely to do this. The competition had already taken place, and precious metals were the winner.
Oct 31, 2022 - 08:52:12 PDT
What would people use for money in a genuine free market? A lot of people answer the question in this way. We really don’t know the answer for sure. It would be up to the people who live in that society.
See how that works? No recession allowed until after the election.
Oct 31, 2022 - 08:47:59 PDT
US government bond investors are urging the Treasury department to intervene in the market, hoping for signals this week of possible buybacks after months of wild prices swings and poor liquidity.
The Swiss National Bank reported a loss of 142.4 billion francs ($143 billion) for the first nine months as turmoil in global currency markets took a toll on the value of its foreign-exchange portfolio. The central bank’s foreign-currency positions resulted in a loss of 141 billion francs, and it also saw a valuation loss on its gold holdings and on its Swiss currency positions.
Russia & China May Be Preparing New Gold-Backed Currency, but Expert Assures US Dollar ‘Safest’?Oct 31, 2022 - 06:22:30 PDT
"Two components in that strategy center around the development of a Yuan-based global commodities trading system and efforts by China, in partnership with Russia and other like-minded countries, to challenge dollar dominance by creating a new reserve currency,"
Kristalina Georgieva, the managing director of the International Monetary Fund knows it. David Malpass, the World Bank president knows it too. An increasing number of countries are having problems paying their debts, and the crunch point is fast arriving.
The global financial crisis of 2008 was supposed to have taught the world the dangers of excessive debt. But borrowing has shot up since then. The debt of governments, companies and households was 195% of global GDP in 2007, according to the International Monetary Fund. By the end of 2020 it had reached 256%. These debt mountains are harder to bear because interest...
Japan spent a record $42.8 billion on currency intervention this month to prop up the yen, the finance ministry said, with investors keen for clues about how much more the authorities might step in to soften the yen's sharp fall.
China’s factory and services activity contracted in October, with signs that things could worsen in the coming months as the government sticks to Covid controls that have disrupted activity across the world’s second-largest economy.