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Gold headed for the first weekly decline in five as traders weighed mixed signals from Federal Reserve officials on the size of the next interest-rate increase and the dollar strengthened.
Chinese President Xi Jinping and Russian leader Vladimir Putin are both planning to attend a Group of 20 summit in the resort island of Bali later this year, Indonesian President Joko Widodo said.“Xi Jinping will come. President Putin has also told me he will come,” Jokowi, as the president is known, said in an interview with Bloomberg News Editor-in-Chief John Micklethwait...
Anticipation that Powell’s Jackson Hole keynote will showcase his inflation-fighting resolve should depress equities in coming days. However, it’s hard to envision how he can successfully cause rates to reprice, and the speech will likely fall short of expectations.
I used to scoff at the mention of ‘The Great Reset”, or the idea that a handful of elites are running the global show behind the scenes. Needless to say, on the other side of the pandemic, I have warmed up to the idea in a big way. I can’t help but feel as though some often talked about conspiracy theories are in the process of unfolding right before our very eyes, whether via premeditated means or just from plain old dumbass incompetence from global politicians & Central Banks.
A middle-income family might spend more than $18,000 a year on a child born in 2015, as inflation hits food, housing, haircuts and sports, according to a Brookings Institution analysis.
The US mortgage industry is seeing its first lenders go out of business after a sudden spike in lending rates, and the wave of failures that’s coming could be the worst since the housing bubble burst about 15 years ago. \
Under President Biden, inflation has soared and The Federal Reserve claims that they want to extinguish the inflation fire by tightening monetary policy … resulting in rising mortgage rates. Under Biden, mortgage purchase applications are DOWN -41.5% while mortgage rates are UP 96%.
Canada’s Prime Minister Justin Trudeau hasn’t exactly been a pillar of liberty and democracy over the last two years. His threatening behaviour toward the Truck Driver Freedom protest, irrational economic pursuit of those who supported them, and public intolerance of medical autonomy has been a cause of concern for observers and citizens alike.
Aug 19, 2022 - 05:46:10 PDT
The European Central Bank (ECB) said that the introduction of digital cash in the form of central bank digital currencies (CBDCs) appears to be the “only solution” that will guarantee a “smooth continuation” of the current monetary system.
Economist Fears the Japanese Yen Could Be Headed for a Destabilizing Downward SpiralAug 19, 2022 - 05:44:14 PDT
Japan's growing trade deficit could mean the Bank of Japan soon becomes powerless to rescue the country's currency.
Inflation figures from Japan, which could put the central bank's ultra-loose monetary policy under even more intense scrutiny, and a smattering of Chinese earnings are the juiciest morsels for investors in Asia to get their teeth into on Friday.
The inflation outlook for the bloc, where prices rose more than expected to another record high in July, has failed to improve since a rate hike last month, Schnabel said, suggesting she favoured another large interest rate increase next month.
Europe’s industrial heartland faces a potential exodus as manufacturers of German car parts, chemicals and steel struggle to absorb power prices that rocket to new highs almost every day.
German producer prices jumped at the fastest pace on record in July, underscoring the gloomy outlook for Europe's largest economy, which is stuck in a stranglehold of soaring costs and weakening growth due to the Ukraine war.
The overwhelming majority of corporate executives are bracing for a recession, according to a Stifel survey.
A new survey from consultancy PwC released this month showed 50% of companies are planning to reduce overall headcount. Additionally, 46% of companies said they are dropping or reducing signing bonuses, while 44% are rescinding offers.
With August shaping up to be the calmest month this year for US stocks, traders are closely watching Friday’s $2 trillion options expiration for hints whether the tranquility will last.
Stock Market Live News Updates: Futures Lower, Bitcoin Tumbles Ahead of Friday OpenAug 19, 2022 - 05:22:05 PDT
Stock futures were pointing to losses at the open as cryptocurrencies sold off and stocks were on pace to break a four-week winning streak.
It was a relatively slow news week in the financial realm. For once, the Fed didn't do anything particularly noteworthy. So, Friday Gold Wrap Host Mike Maharrey took advantage of the lull. Along with covering some economic data and media spin, he hit on a couple of subjects he hasn't been able to get to in recent weeks, including the fatal flaw in Keynesian economics and the prospect of manipulation in the gold and silver markets.
TOP SILVER MINERS Q2 2022 STRATEGIC REPORT: Cost Of Production & Where Are The Stock Prices Going?August 19, 2022
With the cost to produce silver at the highest level ever, the primary miners' profits and share prices have fallen considerably. However, this is some light at the end of the tunnel. When the primary silver mining shares finally bottom, they will provide excellent gains in the years ahead...