Gold has all the potential to go unprecedentedly high. But silver will be gold on
Site:
Precious metals news
Core Producer Prices Hotter-Than-Expected In August As Services Cost RiseSep 14, 2022 - 05:45:38 PDT
After yesterday's 'peak inflation'-narrative-crushing CPI print, analysts expected headline US producer prices to drop 0.1% MoM (after falling 0.5% MoM in July) and it did but core PPI rose 0.4% MoM (more than expected 0.3% MoM).
Gundlach Urges Fed to Slow Rate Hikes as Larry Summers Prefers 1% Jump for Fed CredibilitySep 14, 2022 - 05:42:48 PDT
Jeffrey Gundlach of DoubleLine Capital is worried the Fed will choke off economic growth by raising interest rates too fast. Former Treasury Secretary Larry Summers is among those saying the central bank needs to hike even faster to restore its credibility.
Americans browsing the supermarket aisle will notice most food items are far more expensive than they were a year ago. Egg prices soared 39.8%, while flour got 23.3% more expensive. Milk rose 17% and the price of bread jumped 16.2%.
Desperate times call for desperate measures, and this might be just such a time: Persistently high inflation might force the Federal Reserve to resort to the biggest increase in a key U.S. interest rate in more than 40 years.
Rates are surging due in large part to the Fed's hawkish inflation policies, and that's weighing on mortgage demand.
Rising mortgage rates are increasingly weighing on the interest-rate sensitive housing sector as the Federal Reserve pushes on with aggressively lifting borrowing costs in order to tame high inflation. The central bank has raised its benchmark overnight lending rate by 225 basis points since March. Expectations for Fed tightening have led to a surge in Treasury yields since the start of this year.
The latest seasonally adjusted inflation rate for August came in nearly flat again at 0.09% MoM, dropping to 8.3% YoY. Expectations had been for -0.1% MoM and 8.1% YoY so the market had a very negative reaction to the report.
The August Consumer Price Index surprised to the upside, ramping up expectations for another aggressive Federal Reserve rate hike. It also reveals a big problem for the Fed that most people haven't come to grips with yet.
The CPI for August came in hotter than expected, ratcheting up anticipation of another big Federal Reserve interest rate hike at the September FOMC meeting. Peter Schiff appeared on the Claman Countdown on Fox News and explained why these rate hikes are too little too late. In fact, the Fed is basically spitting into the wind.
SRSROCCO FIRESIDE CHAT SEPT 14th: Extreme In Silver Market Continues Big Move Coming... What Direction?September 14, 2022
Continuing the Extreme Silver Market Setup, I wanted to provide a quick update. Also, I will be a part of a Silver Market Twitter Spaces chat today at 4 PM EST. If you miss it, you can listen to the recording. It is important that you watch this update as a Big Move is likely coming in Silver...
Rents are up. Groceries are up. Energy is up. And it hurts. Join Mike Maloney and Adam Taggart in today’s must-watch update on inflation.
Sep 13, 2022 - 13:17:15 PDT
Only time will tell, but with physical silver demand firing on all cylinders and massive amounts of silver leaving the LBMA London vaults, the bullion bank tactics of rinse and repeat in creating a ‘paper’ silver price unconnected to physical demand and supply is becoming more and more exposed.
Are We on the Verge of the Biggest Commodity Supply Squeeze Ever in History?Sep 13, 2022 - 13:16:08 PDT
As we move through the second half of 2022 – the Global Energy Crisis is snatching headlines and firmly positioning itself as one of the biggest and most lucrative money making opportunities of the current financial climate that we find ourselves in right now!
Sep 13, 2022 - 13:09:27 PDT
Charlie Munger warns about the biggest inflationary bubble in world history bursting and shares his thoughts on how it is going to unfold. He elaborates on the difficulty of building wealth for the young generation of today compared to his. Charlie says that we’re flirting with serious trouble and the consequences may be worse than what Paul Volcker was dealing with in the 1970s.
Fed Mouthpiece Speaks: "At LEAST 75bps Next Week" Sends Odds Of 100bps Rate Hike to 47%Sep 13, 2022 - 12:58:00 PDT
A little over an hour ago we reported that while everyone was waiting for the Fed's WSJ mouthpiece Nick Timiraos to leak whatever it is that Powell wanted markets to know during the Fed's blackout period, Nomura became the first bank to forecast an out of consensus 100bps rate hike during next week's FOMC meeting.
August electricity bills for US consumers jumped the most since 1981, gaining 15.8% from the same period a year ago, according to the US Bureau of Labor Statistics.
Sep 13, 2022 - 12:33:13 PDT
The housing market slowdown is likely to gain steam, explains Goldman Sachs chief economist Jan Hatzius. Signs of a sizable housing slowdown have picked up in recent months as the 30-year mortgage rate has climbed to near 6% to a level not seen since 2008.
Sep 13, 2022 - 12:22:41 PDT
My numbers slightly differ from BLS (+-0.1). For example, the BLS has the rise last month as 0.6 and September of 2021 as 0.20. Since August of 2021 we both calculate only three positive months. We both calculate six positive months for production and nonsupervisory workers. Most months we arrive at the same number.
The Federal Reserve is likely to raise U.S. borrowing costs faster and further than previously expected after data on Tuesday showed underlying inflation broadening out rather than cooling as expected.
How the Fed Helped Create Another Calamity: The Ongoing Emerging Market Debt CrisisSep 13, 2022 - 12:18:12 PDT
When in March the Federal Reserve finally moved to belatedly embark on a series of rate hikes to slow the hottest inflation in the United States since the 1980s, it signaled impending trouble for many emerging market economies.