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The Fed Is Now Paying $500 Million To A Handful Of Banks Every Day, And Suddenly Has A Very Big ProblemOct 13, 2022 - 05:18:02 PDT
Just over three months ago, on July 1, we were the first to point out a very inconvenient problem resulting from the Fed's shockingly rapid rate hikes and policy tightening: with the Fed Funds Rate at 1.75%, the US central bank was now paying out nearly a quarter billion in interest every day on its Reverse Repo Facility and on bank reserves parked at the Fed.
America’s 6 Biggest Banks Are Expected To Set Aside $4.5 Billion in Q3 To Cover Future Loan LossesOct 13, 2022 - 05:15:47 PDT
Looks like they see trouble on the horizon.
ENERGY CLIFF MUST SEE OIL & METALS CHARTS: Bracing For The Seneca Cliff & What That Means For Metals Production &...October 13, 2022
Many people still do not understand the ENERGY CLIFF and how that will impact metals production in the future. In this video update, there are FIVE MUST-SEE CHARTS. These charts help connect the ENERGY DOTS and why the world is still unprepared for what lies ahead...
Oct 12, 2022 - 12:55:23 PDT
Gold prices are down this week as traders take a cautious stance ahead of US inflation data. Bullion is likely at the mercy of that CPI number, but gold’s correlation with Treasury yields is sending a bullish signal.
US Will Soon Need To Deter Two Major Nuclear Powers for First Time: White HouseOct 12, 2022 - 12:35:42 PDT
Within a decade, the US will need to deter two major nuclear weapons powers for the first time, the Biden administrationhas warned, pointing to the Russian arsenal that is increasingly being brandished by Moscow and an expanding Chinese stockpile.
Oct 12, 2022 - 12:29:51 PDT
U.S. President Joe Biden is requesting $11.7 billion in emergency funds from Congress for Ukraine as the country battles against Russia’s full-scale invasion.
Oct 12, 2022 - 12:23:48 PDT
US doesn't think Ukraine can win ‘outright’...
I hope you were suitably cheered up when, on a recent trip to Asia, Vice President Kamala Harris assured American troops in Japan that, in response to China’s “disturbing behavior” in the East China and South China Seas and its “provocations across the Taiwan Strait,” Washington would never look away.
Fourteen NATO allies participated in the October 2021 installment of Steadfast Noon, as the annual exercise is known, and the alliance emphasized that “no live weapons are used.” These drills coincide with the Kremlin’s attempt to deter the Western allies from providing Ukraine with long-range missile systems as Russian President Vladimir Putin tries to batter Ukrainian society into submission following a series of setbacks for Russian forces.
Russia’s Putin praises cooperation during talks about OPEC+ and Ukraine war with Sheikh Mohammed bin Zayed Al Nahyan.
President Joe Biden voiced his fury with Saudi Arabia over OPEC+ oil production cuts Tuesday, accusing the kingdom of allying itself with Russia and vowing to engage with US lawmakers clamoring to punish Riyadh.“There’s going to be some consequences for what they’ve done, with Russia,” Biden said in an interview with CNN.The president added that he believes it’s time for the US to rethink its relationship with Saudi Arabia.
I took cash out of my bank because there's too much data pointing to a true economic crisis. And banks are part of the problem. Here's why.
Cash Is King Again As Money Managers Are in No Rush To Embrace Risk With Fed Raising RatesOct 12, 2022 - 11:53:03 PDT
Global money market funds saw the largest weekly inflows since April 2020 as investors seek safety to ride out the turmoil.
FOMC Minutes Show Hawkish Fed Warn "Cost Of Doing Too Little Outweigh Cost Of Doing Too Much"Oct 12, 2022 - 11:04:53 PDT
Perhaps more notably, market expectations for The Fed rate-trajectory have shifted significantly more hawkish. Terminal rate expectations are higher and subsequent rate-cut expectations are lower (which is what The Fed wanted)...
Fed Officials Expect Higher Rates To Stay in Place, Meeting Minutes ShowOct 12, 2022 - 11:01:48 PDT
The Federal Reserve released minutes Wednesday from its Sept. 20-21 meeting.
This is breaking news. Please check back here for updates.
Oct 12, 2022 - 10:55:55 PDT
A Meaningless Caution: The Wall Street Journal reports Two Fed Officials Make Case for Caution With Future Interest Rate Raises. OK, but look at their rationale and the timeframe, emphasis mine. - Fed Vice Chairwoman Lael Brainard noted how previous rate increases, together with anticipated further rate increases, will slow the economy in ways that can’t be observed yet during a speech Monday at a conference of business economists in Chicago.
Rise in global borrowing costs and high inflation trigger shift in fund's earlier calls for expansionary fiscal policy
The Bank of England has warned that some UK households may face a strain over debt repayments that is as great as before the 2008 financial crisis, if economic conditions continue to be difficult.
Governor Andrew Bailey put the Bank of England’s credibility on the line with a pledge to end emergency gilt purchases as scheduled on Friday, in the face of mounting market pressure to extend the program.
Everything's fixed except what's no longer profitable to plunder. Underfunded, ignored, mismanaged by incompetents, it breaks.