Gold has all the potential to go unprecedentedly high. But silver will be gold on
Site:
Precious metals news
Jun 7, 2022 - 11:39:59 PDT
Credit union and banking trade groups have released a joint letter to the chair and ranking member of the House Financial Services Committee, warning of “devastating consequences” if the Federal Reserve moves forward with a Central Bank Digital Currency (CBDC).
Join Mike Maloney and Ronnie Stoeferle as they dive into the latest charts from the In Gold We Trust Report. In Part 1 of this series, you’ll see Mike single out a specific data point that shows the immense potential for gold prices to live higher.
President Joe Biden has unveiled a three-part plan to fight inflation — or at least make people think he is fighting inflation. One part of the plan involves having government agencies “fix” the supply chain problems that have led to shortages of numerous products. Of course, any attempt by the government to solve the supply chain problems (which were caused by prior government interventions such as shutting down the economy for over a year) will not just fail to solve the supply shortages but will create new problems.
Jun 7, 2022 - 08:49:31 PDT
The charts above show that the Federal Reserve was able to get through World War I, the Great Depression, World War II, the Vietnam War and the stagflation of the 1970s, without an explosion in its balance sheet. But since Ben Bernanke, Janet Yellen and Jerome Powell have, in turn, sat at the helm of the Federal Reserve, there has been unprecedented growth in the Fed’s Balance Sheet.
Jun 7, 2022 - 08:42:33 PDT
What that leads to is prolonged inflation and a recession that doesn't hit until far out in the future as a result of their approach, he continued. "It's kind of a false dichotomy - hard landing, soft landing - it could be the Fed's not really fighting," Bernstein said.
Jun 7, 2022 - 08:36:46 PDT
U.S. Treasury Secretary Janet Yellen faces a gauntlet of tough questions about her inflation views as she testifies before the Senate Finance Committee on Biden's 2023 budget.
Jun 7, 2022 - 08:30:29 PDT
Soaring global inflation. Rising fuel prices. Russia’s invasion of Ukraine. A Supreme Court poised to take away a constitutional right. A potentially resurgent pandemic. A Congress too deadlocked to tackle sweeping gun safety legislation even amid an onslaught of mass shootings.
California Lawmakers Discuss Buying Out Farmers With Tax Payer Money to Save WaterJun 7, 2022 - 08:26:38 PDT
After decades of fighting farmers in court over how much water they can take out of California's rivers and streams, some state lawmakers want to try something different: use taxpayer money to buy out farmers.
In Latest Flailing Attempt To Slow Soaring Energy Costs, Biden Invokes Defense Production Act To Push Green AgendaJun 7, 2022 - 08:20:02 PDT
It's the latest "drop in the ocean" response to a massive, looming energy cost crisis that has resulted from out of control money printing and geopolitical volatility.
Amid the deluge of dire predictions that the human population will rise exponentially, deplete the earth’s resources, and overheat the planet, two recent demographic studies predict the opposite—that the number of people will peak within the next several decades and then begin a phase of steady, irreversible decline.
Jun 7, 2022 - 08:13:21 PDT
In a June 7 report (pdf) titled “Hunger Hotspots – FAO-WFP early warnings on acute food insecurity,” the organizations said that acute food insecurity is likely to “deteriorate further” in 20 nations across the globe between now and September 2022, and called for urgent humanitarian action.
Many have read that there is a food crisis looming and there are significant concerns about grain shortages. The main reason for this possible crisis is the Ukraine invasion. However, this is not the full picture.
Global Stagflation Threat Grows As World Bank Slashes Growth Forecast, Blames PutinJun 7, 2022 - 07:56:29 PDT
"The world economy is expected to experience its sharpest deceleration following an initial recovery from global recession in more than 80 years," the bank said Tuesday in its Global Economic Prospects report.
Gold prices climbed off one-week lows Tuesday as investors weighed tightening plans from major central banks.
The U.S. dollar rose to a two-week high as rising U.S. Treasury yields supported the greenback, pushing the Japanese yen to its lowest level against the dollar in two decades. The yen dropped to a 20-year low of 133 per dollar, levels that had previously been highlighted as intervention territory, a day after central bank governor Haruhiko Kuroda reiterated an unwavering commitment to "powerful" monetary stimulus.
Bitcoin fell back below $30,000, sliding along with equities and settling back into the middle of the narrow range where it’s been trading since mid-May.
Sector shows first signs of cooling in over a year as higher borrowing costs narrow pool of buyers.
European Stocks Slip Into Negative Territory Amid Inflation and Ahead of ECB Monetary Policy MeetingJun 7, 2022 - 05:58:39 PDT
The U.K.’s market reaction amid political turbulence in the country was limited today after U.K. Prime Minister Boris Johnson survived a vote of confidence yesterday. U.S. stock index futures slipped on concerns over risks from rising inflation and the Federal Reserve's plan to further raise interest rates.
“Sell-yen orders are coming in around the clock. In the last couple of days we’ve seen a lot more volume,” said Gould, a three-decade currency markets veteran and head of trading at Capital.com. “People are still wanting to buy dollar-yen at 20-year highs.”