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ECB Will Keep Countries on Straight and Narrow Even if It Buys Their Debt: LagardeJun 28, 2022 - 05:47:21 PDT
The European Central Bank's upcoming bond-buying programme will curb rising borrowing costs for vulnerable euro zone countries while keeping up pressure on their governments to repair their budgets, ECB President Christine Lagarde said on Tuesday.
Money managers are selling the South African rand and Brazilian real, reversing a trend earlier in the year when the sharpest commodities rally in modern trading history supported emerging-markets currencies despite a strong dollar.
After years of building their foreign-exchange reserves, central banks in Asia are tapping into their stockpiles to bolster their weakening currencies against a rising US dollar.
Whether in retail stores or at the pump, consumers across all income levels are paying higher prices for goods and services. The latest Consumer Price Index (CPI) showed that the inflation surged to 8.6% in May, the highest level since 1981. But higher prices aren’t impacting consumers equally.
United Nations Secretary-General Antonio Guterres said last week that the world faces an unprecedented hunger crisis, with a risk of multiple famines this year and a worse situation in 2023.
The head of the European Central Bank said Tuesday that it will move gradually to combat soaring consumer prices with interest rate hikes in July and September but will keep its options open to “stamp out" inflation if it surges faster than expected.
The list of emerging-markets countries facing debt distress is quickly mounting as global interest rates rise, according to World Bank Group Chief Economist Carmen Reinhart.
Gold demand in India was strong in May with retail sales rebounding and imports up both month-on-month and year-on-year.
Even with rising interest rates and the dollar at multi-year highs, gold has held its ground. Nevertheless, we have yet to see a big spike in gold prices despite persistent inflation. Why not?The perception is that rising interest rates are always bad for gold. But does perception match up with reality?If history is any indication, the answer is no.
The market and investors need to know what are the most vulnerable regions in the world. Unfortunately, most analysts confuse investors with a great deal of unnecessary detail. In this update, I show which regions in the world will be facing the Energy Cliff quicker than other areas. If we focus on energy, the financial and economic analysis...
Ted Oakley of Oxbow Advisors interviewed John Hathaway on a recent Sprott Insights about the gold bullion and equities markets.
We’re almost halfway through 2022, and so far gold has been the big winner after oil, coal and other commodities.
Currently the world is on a fiat money standard—a government-issued currency that is not backed by a commodity such as gold. The fiat standard is the primary cause behind the present economic instability, and is tempted to suggest that a gold standard would reduce instability.
The Central Bank of Bolivia (BCB) has proposed a law that would effectively make it the sole purchaser of gold produced within the country. The central bank’s proposal would also allow it to use gold reserves as collateral or swap them for foreign currency, local newspaper El Deber has reported.
How Governments Expropriate Wealth with Inflation and Taxes | Daniel LacalleJun 27, 2022 - 12:41:18 PDT
In an interview with the Wall Street Journal, Treasury secretary Janet Yellen admitted that the chain of stimulus plans implemented by the US administration helped create the problem of inflation.
Governments love inflation. It is a hidden tax on everyone and a transfer of wealth from bank deposits and real wages to indebted governments that collect more receipts via higher indirect taxes and devalue their debts. That is why we cannot expect governments to take decisive action on inflation.
Larry Summers Nailed Inflation. But Is He Right on What Comes Next?: WSJJun 27, 2022 - 12:26:07 PDT
I think there is a greater chance of a new economic regime, with more inflationary pressure and higher real interest rates.
‘Systemic Challenge’ or Worse? NATO Members Wrangle Over How To Treat ChinaJun 27, 2022 - 12:21:30 PDT
NATO’s first new strategy concept in a decade will cite China as a concern for the first time but member states remain at odds over how to describe the country with the world's largest military and its relationship with Russia, NATO diplomats say.
More public pension plans than ever are using leverage, investing borrowed money in an effort to earn higher returns and close big funding gaps.
All leaders of the Group of Seven rich democracies are concerned about a looming economic crisis as growth slows and inflation soars, German Chancellor Olaf Scholz said after a working session on the global economy at this year's annual G7 summit.