Gold has all the potential to go unprecedentedly high. But silver will be gold on
Site:
Precious metals news
The World’s Biggest Asset Manager BlackRock Is Bracing for “Persistent Inflation”Jul 13, 2022 - 12:54:44 PDT
The world’s biggest asset manager BlackRock said the era of steady growth and inflation was over as it revealed it had slashed its exposure to developed market equities and was bracing for extended period of volatility.
The Solution Is a "Return to Sound Money”. A recent essay on the Mises Wire triggered quite a bit of discussion among a group of Austrian school economists. Paul H. Kupiec and Alex J.
Money supply growth fell again in May, dropping to a three-month low. May's drop continues a downward trend from the unprecedented highs experienced during much of the past two years.
With this latest inflation data, however, pressure will only mount on Powell to push through a full 1 percent rate hike. That, however, would make government debt much more expensive to service, tank the real estate industry, and lead to many household defaults on mortgages and auto payments. Unemployment would follow, and then what sliver of data will the Fed use to convince us that the economy is doing swell?
US Dollar Strength: "Unintended Consequences" Or "The Empire Strikes Back"?Jul 13, 2022 - 12:20:09 PDT
This value/price is trustworthy. Values set by artificial pegs and official exchange rates are not trustworthy because these artifices can be changed overnight by opaque authorities.
It Gets Ugly: Inflation Shifts to Services. Food, Fuel Spike Too. Dollar’s Purchasing Power Swoons.Jul 13, 2022 - 12:17:44 PDT
Oh dearie, the Fed is going to meet in late July, and it’s going to talk about services inflation.
"Campbell's Soup putting through their THIRD price hike this year. Announced June 17th - that's anecdata not in CPI yet. Food inflation still has momentum."
Jul 13, 2022 - 12:09:29 PDT
2022 is shaping up for a bad year.
Jul 13, 2022 - 11:04:52 PDT
Gold has recovered from a nearly 1-year dip with gold futures rising by 0.7% as the US dollar slips over inflation fears.
Average American Worker Has Lost $3,400 in Annual Wages Thanks to InflationJul 13, 2022 - 10:58:24 PDT
"It's truly crushing the middle class and then the White House spokesperson says these garbage lines like ‘the economy is in transition,’" he continued. "Transition in the same sense, I suppose, that an iceberg transitioned the Titanic into a submarine."
Inflation Reaches Highest Level Since 1981: ‘We Don’t See Relief in Sight,’: Wells Fargo EconomistJul 13, 2022 - 10:54:53 PDT
And it doesn’t look like things will improve any time soon, says Sarah House, a senior economist at Wells Fargo. “In recent weeks, gas prices have shown signs of weakening, but we don’t see relief in sight for core prices,” she says.
The Biden Administration has announced an additional $1.7 billion in aid to Ukraine to pay its healthcare sector. As the seemingly endless US money spigot to Ukraine seems to be left open, how long until Americans without healthcare begin to object? Also today: new CPI numbers are out...and they're devastating! Also: John Bolton casually admits plotting coups overseas while in government.
Emerging market bonds face a $237 billion cascade of defaults, reports Bloomberg, with Sri Lanka already stopping its payment to bond holders this year. Russia stopped in June. Now, El Salvador, Ghana, Egypt, Tunisia, and Pakistan are cited as particularly vulnerable. As history shows, the collapse of one government can create a domino effect with their traders pulling money from shaky markets.
This level of inflation will come as a shock to many, especially those who have been falsely comforted by a US Federal Reserve narrative that, from day one of this inflation episode, has failed to understand the dynamics in play, grasp the seriousness of what’s ahead, and act promptly and decisively to avoid undue harm to so many.
As Sri Lanka's President Flees To Paradise Island, Embattled PM Appoints Generals To Restore OrderJul 13, 2022 - 09:11:54 PDT
In the early hours of Wednesday morning, just before he was expected to resign amid mass protests fueled by a crippling economic crisis, embattled President Gotabaya Rajapaksa fled the country on a military jet from Colombo, bound for the nearby Maldives.
Jul 13, 2022 - 08:41:21 PDT
In case you are wondering why Biden’s approval ratings are so terrible, check out this chart.
Under Biden’s Reign of Error, inflation has soared to 9.1% YoY and the NFIB Small Business Optimism Index has crashed.
While experts debate whether a recession will happen or when, most people are already convinced we're headed for a downturn, a new survey finds.
The euro dropped below parity against the dollar on Wednesday for the first time in almost two decades, as a hawkish U.S. Federal Reserve and growing concern about rising recession risks in the euro area continued to batter the currency.
India is also on course to replace China as the world's most populous nation next year.
Beijing has for years been chipping away at the pillars of the U.S.-led global order—subverting its foundational institutions, international norms, and liberal ideals—but Chinese President Xi Jinping had not offered a comprehensive vision of how a China-led replacement might work. That is changing.