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Precious metals news
Jul 20, 2022 - 10:55:17 PDT
First up today a HUGE announcement from the Ron Paul Liberty Report!! Then on today's program: Biden's Transportation Secretary Pete Buttigieg believes Americans suffering at the gas pumps is actually a very good thing because it will force them to purchase electric vehicles. US Rep Massie hammers this delusional view. Also today: Ukraine threatens to smash Crimea and the Black Sea Fleet. WWIII?
Kissinger Warns Biden Against Endless Confrontation With Russia and ChinaJul 20, 2022 - 08:41:22 PDT
Former US Secretary of State Henry Kissinger said geopolitics today requires “Nixonian flexibility” to help defuse conflicts between the US and China as well as between Russia and the rest of Europe.
Ukraine Defense Minister Offers Ukraine as a 'Testing Ground' for NATO WeaponsJul 20, 2022 - 08:37:22 PDT
Ukrainian Defense Minister Oleksii Reznikov on Tuesday openly offered Ukraine as a venue to test NATO weapons against Russia in an online conversation with the director of the Atlantic Council’s Eurasia Center.
Turkey’s President Recep Tayyip Erdogan will discuss paying for Russian energy imports with currencies other than the US dollar when he meets his Russian counterpart, Vladimir Putin, in Tehran on Tuesday, according to Turkish officials familiar with the matter.
Jul 20, 2022 - 08:16:38 PDT
Even though gasoline prices have slid below $4.50 per gallon on average nationwide in what's been a multi-week downward trend, an industry expert warns that the reprieve is likely temporary and drivers should brace for pump pain as oil readies to rally in a "second act."
"If The Fed Pivots Sooner Than Most Think, The Second Half Of 2022 Risk Rally Will Be Enormous"Jul 20, 2022 - 08:12:36 PDT
The Fed is hiking blindly into an economic downturn, putting pressure on risk assets unnecessarily.
Fed Fights Inflation Monster It Created While Destroying Dollar, 'Jekyll Island' Author WarnsJul 20, 2022 - 08:08:57 PDT
The Federal Reserve has been aggressively hiking interest rates this year in an effort to quell today's multidecade-high inflation, and reports indicate they are looking to raise interest rates another percentage point this month.
Housing Market Crash a 'Big Concern,' Says Ex-White House Economic AdvisorJul 20, 2022 - 08:06:26 PDT
Former Trump advisor Stephen Moore said he's "really nervous" about the state of the housing market in the United States, as inflation runs high, home prices and mortgage rates are soaring and home builders' confidence plunges.
Silver & Gold’s Historical Correlations to High Inflation: This Answers Some QuestionsJul 20, 2022 - 07:44:21 PDT
Probably the biggest knock against gold and silver right now is that they’re not rising in response to spiking inflation. This is what many investors know them for, after all. Yet despite the CPI – the Consumer Price Index that tracks price changes in everyday goods and services – reaching 40-year highs, gold and silver prices have been weak.
Southern California Home Sales Crater, Prices Begin to Drop. California Pending Sales Collapse 40%Jul 20, 2022 - 07:36:19 PDT
The first year-over-year price declines crop up as the crazy California housing market “normalizes” amid holy-moly mortgage rates.
Jul 20, 2022 - 07:27:47 PDT
Instead of The Boston Strangler, we now have the DC Strangler. Better known as The Federal Reserve and their war on inflation. US existing home sales crashed -14.24% YoY and -5.40% MoM in June as The Fed tightens its icy grip on the housing market. Existing home sales were lower than expected at 5.12 million home sold SAAR.
Suki Cooper, precious metals research executive director at Standard Chartered Bank, discusses gold prices, the key risks for metals and her outlook for silver. She speaks on Bloomberg Television.
The Federal Minimum Wage Hasn’t Gone Up in 12 Years—And Is at Its Lowest Value Since 1956Jul 20, 2022 - 06:23:32 PDT
Analysis of Consumer Price Index data found that the $7.25 federal minimum wage hasn't been worth less since 1956, when it was 75 cents, or $7.19 today.
UK Inflation Hits New 40-Year High of 9.4% As Cost-of-Living Crisis DeepensJul 20, 2022 - 06:16:00 PDT
U.K. inflation hit yet another new 40-year high in June as food and energy prices continued to soar, escalating the country's historic cost-of-living crisis.
It's Not Just China Homebuyers. Now Property Suppliers Are Boycotting LoansJul 20, 2022 - 06:14:07 PDT
Hundreds of contractors to the property industry complained that they can no longer afford to pay their own bills because developers including China Evergrande Group still owe them money, Caixin reported, citing a statement it received from a supplier Tuesday.
Mortgage Demand Drops to a 22-Year Low As Higher Interest Rates and Inflation Crush HomebuyersJul 20, 2022 - 06:12:01 PDT
The pain in the mortgage market is only getting worse amid higher interest rates and inflation in the overall economy.
The latest changes in the US debt holdings by China and Japan may give the impression that it has become a trend for countries to pare down their holdings of US debt that they are bearish about dollar-denominated assets.
Debt-laden Italy finds itself in markets' crosshairs again, as the prospect of a collapse in its national unity government coincides with the European Central Bank preparing to deliver its first interest rate rise in 11 years.
India's central bank is prepared to sell a sixth of its foreign exchange reserves to defend the rupee against a rapid depreciation after it plumbed record lows in recent weeks, a senior source aware of the central bank's thinking told Reuters. The rupee has lost over 7% of its value in 2022 and weakened past the psychological level of 80 per U.S. dollar on Tuesday...
The World Bank isn’t often given to making specific prophesies of doom as opposed to wringing its hands and talking vaguely about risk. So it’s quite something when it bluntly talks of a “coming spate of debt crises” in emerging markets.