Gold has all the potential to go unprecedentedly high. But silver will be gold on
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The worst of the global price shocks triggered by the war in Ukraine and Covid-induced supply disruptions probably isn’t over yet, with the next risk being inflation getting firmly entrenched in the economy.
‘Things Probably Will Get Worse’ — Big Banks Brace for an Economic DownturnJul 19, 2022 - 05:12:11 PDT
Big banks are warning of an economic slowdown and everything else to watch in markets on Tuesday, July 19, 2022.
This analysis focuses on gold and silver within the Comex/CME futures exchange. See the article What is the Comex? for more detail. The charts and tables below specifically analyze the physical stock/inventory data at the Comex to show the physical movement of metal into and out of Comex vaults.
Who needs gold?Ukraine, apparently.An official at the central bank claims it has sold billions in gold since the Russians invaded Ukraine back in February.
Retail sales rose 1% in June after a 0.1% decline in May. Mainstream media breathlessly reported that the jump in retail spending "eases" recession fears.Does it though?
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The debt market has been perilously close to locking up in recent months which would quickly lead to the entire financial system freezing and banks slamming their doors and ATMs not working etc. This is the reason for the heavy selloff across markets that has also affected commodities and driven the dollar higher. So Friday’s announcment that the ECB is to engage in “unlimited...
The conclusion is that even though the silver charts look superficially scary, the outlook for it is better than it has been for a long time, which fundamentally makes sense if the Central Banks are about to wade in Big Time to stop the debt market from imploding leading to a systemwide lock up, because this intervention will of course involve the creation of vast amounts of new money that will be massively inflationary.
While it’s clear to me that the level of concentrated short covering to this point has been unprecedented and as much as it seems to be over, we will only know for sure after prices rise and the big former shorts don’t re-short, not before.
Spoofing Gold ‘Common Practice’ at Bear Stearns, Ex-Trader Says: BloombergJul 18, 2022 - 12:43:10 PDT
At Bear Stearns Cos., before the bank was acquired by JPMorgan Chase & Co. in 2008, manipulating the gold futures market with bogus spoof orders was “common practice,” especially for its top trader, Gregg Smith, a former colleague told jurors in Chicago.
Eight years ago as Russia seized Crimea from Ukraine, Ukraine's gold appeared to have been hastily shipped to the United States. Stripping the wounded of their valuables in wartime..
The biggest contributors to rising consumer prices are the basic necessities of food, fuel, and shelter.
Inflation is at 40+ year highs. Americans have never spent more of their paychecks on gas and food. And if not for various gimmicks with the inflation numbers, the official inflation metric would be in the double digits. And we’re supposed to believe that somehow the Fed is now able to correctly assess this situation?
Whatever it is that the World Economic Forum is promising does not look especially impressive by comparison to the normal freedoms we took for granted. Indeed, we let the experts have a go at it and they created a monstrous experience for billions of people the world over. This will not soon be forgotten.
Biden’s Economic Approval Rating Falls to New Low on Fear About Inflation, CNBC Survey FindsJul 18, 2022 - 12:23:18 PDT
President Joe Biden’s economic approval rating fell 5 points since April to 30%, according to the CNBC All-America Survey.
European nations are rushing to rapidly refill gas storage tanks before the winter heating season sets in. But they face a possibility that Russia will choose to completely cut off its gas supply, said the International Energy Agency’s head.
European Central Bank President Christine Lagarde will soon unveil a new “anti-fragmentation” tool to control euro zone government bond yields. In doing so, she must address two key questions: how the ECB will determine that a country’s borrowing costs have reached a level unjustified by its economic situation, and what the central bank will do about it. If Lagarde has...
In a big case of Italian deja vu, political turmoil and the ECB’s rate hike have reignited fears of a debt crisis, with all eyes on borrowing costs once more.
Advance retail sales numbers beat expectations easily but inflation-adjusted numbers tell the real story.
The stock market has briefly bounced back from a widespread selloff that began earlier this year, but equities are likely to see further losses as sky-high inflation and an increasingly hawkish Federal Reserve continue to pose risks to the economic outlook.