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Aug 11, 2022 - 06:57:46 PDT
A federal jury in the Northern District of Illinois convicted two former precious metals traders at JPMorgan Chase & Co. (JPMorgan) today of fraud, attempted price manipulation, and spoofing in a multi-year market manipulation scheme of precious metals futures contracts that spanned over eight years and involved thousands of unlawful trading sequences.
Aug 11, 2022 - 06:00:04 PDT
Central bankers and policymakers are struggling to quell surging costs — but despite their efforts, Saxo Bank’s Steen Jakobsen believes it is a Sisyphean undertaking. Inflationary pressures are already akin to a “runaway train” that “will not moderate” over the rest of 2022 or the near term, he warns.
Masquerading as the “Inflation Reduction Act,” the bill passed Sunday by the Senate is nothing more than a Trojan horse for more of the same policies that created the stagflationary fire consuming the economy in the first place.
The number of Americans filing for jobless benefits for the first time last week was 262k, notably higher than the 248k the prior week. That is the highest since Nov26 2021.
Searches For 'Sell My House' Hits Its Highest Point In U.S. Internet HistoryAug 11, 2022 - 05:49:15 PDT
Analysis of Google search data reveals that searches for 'sell my house' exploded 147% in the United States as of July 2022 - the highest level in internet history for America. This comes as Americans face rising property and rent costs, with fears of a recession looming.
Supply-chain disruptions continued to send food prices higher in July.
Daly's remarks comes as U.S. consumer prices remained unchanged in July due to a sharp drop in the cost of gasoline, delivering the first notable sign of relief for weary Americans who have watched inflation climb over the past two years.
Rental Costs in the US Are Soaring at the Fastest Pace in More Than Three Decades: BloombergAug 11, 2022 - 05:35:10 PDT
surpassing a median of $2,000 a month for the first time ever and pushing rents above pre-pandemic levels in most major cities. Increases are particularly steep in metropolitan areas that saw large influxes of new residents during the pandemic, but the rental market is sparing almost nowhere and no one.
The People’s Bank of China said it will safeguard the economy against inflation threats, pledging to avoid massive stimulus and excessive money printing to spur growth.
Mexico and Peru’s central banks are expected Thursday to hike their key interest rates to the highest point in more than a decade, as they continue their record tightening cycles to try to wrestle persistent inflation back under control.
Federal Reserve officials responded to softening inflation data by saying it doesn’t change the US central bank’s path toward even higher interest rates this year and next.
European power prices rose to fresh records on Thursday as a blistering rally showed no signs of abating.
U.S. stock index futures crawled higher on Thursday, adding to strong gains from the previous session on first signs of cooling inflation, with investors looking for more evidence from data on producer prices and the labor market.
The Federal Government ran a $211B deficit in July. Except for February, this was the largest deficit since last July when the Treasury ran a deficit of $302B, and it was the second-largest July deficit ever.
The tax man cometh!And thanks to the Democrats in Congress, there will be more tax enforcers shining their lights into the nooks and crannies of Americans' finances.
Cooling Consumer Price Index data did not cool the hot rhetoric coming from some Federal Reserve members. The question is whether this is a bunch of hot air or do these central bankers actually have the fortitude to move forward with rate hikes in the face of a sinking economy?
The latest seasonally adjusted inflation rate for July came in nearly flat at -0.03%. This was on the heels of a blisteringly hot June number of 1.35%.While inflation did surprise to the downside, it had been expected to be much lower due to the fall in oil and drop in gasoline prices. The YoY number also fell as the reading from last July of 0.46% fell off the calendar.
STRATEGIC MINING STOCKS REPORT: Gold & Silver Stocks Successful Investment Strategy During The Energy CliffAugust 11, 2022
The Strategy to invest in mining shares has changed forever. Due to the coming ENERGY CLIFF, individuals need to adjust how they invest in mining shares, or they could lose a great deal of their gains. Since the 2020 Pandemic Shutdown, I have reconsidered a better strategy of investing in mining stocks...
Aug 10, 2022 - 13:16:56 PDT
Known as the Nuestra Señora de las Maravillas ("Our Lady of Wonders" in Spanish), the 891-ton (808 metric tons) galleon was traveling between Spain and Colombia in 1656 to pick up a cargo of silver when a navigational error caused it to collide with another vessel in the Spanish fleet.
Aug 10, 2022 - 13:14:46 PDT
“Looking ahead, I think the conditions are right for a move back to a more dovish environment and a Fed pivot. That’s why I believe it’s the perfect time for prudent investors to own gold and silver.”