Gold has all the potential to go unprecedentedly high. But silver will be gold on
Site:
Precious metals news
May 10, 2022 - 10:31:30 PDT
The Report shows a solid increase in total household debt in the first quarter of 2022, increasing by $266 billion (1.7%) to $15.84 trillion. Balances now stand $1.7 trillion higher than at the end of 2019, before the COVID-19 pandemic.
In a survey of 202 investors globally, 51 percent said the global economy is entering a period of stagflation.
Both employers and consumers look to cut their costs when inflation spikes. That can cause trouble.
The misery index is one such bit of history, dating back not that far, to the Jimmy Carter presidency of the late 1970s. Calculated by adding the unemployment and inflation rates together, the misery index “measures the degree of economic distress felt by everyday people.”
May 10, 2022 - 08:21:51 PDT
Despite markedly higher Treasury yields, real and financial asset prices generally remained high relative to their corresponding expected cash flows.
Stablecoins are pegged to something, typically $1 but it could be anything. TerraUSD was supposed to be pegged to the US dollar. $1 = 1 TerraUSD. That peg broke hard on Monday. Many readers may be wondering what TerraUSD is backed by. The answer is nothing. Officially, it's backed an algorithm that clearly doesn't work.
The financial system is still orderly according to Treasury Secretary Janet Yellen in prepared remarks before the US Senate Committee on Banking. "The U.S. financial system has continued to function in an orderly manner, though valuations of some assets remain high compared with historical values," said Yellen
This rate of growth is not sustainable to say the least. A recession is assured.
Gasoline & Diesel Prices Spike to New WTF Records, But Don’t Blame Crude OilMay 10, 2022 - 08:08:19 PDT
Predictions a few weeks ago of peak gasoline prices have been obviated by the inflationary mindset.
May 10, 2022 - 08:05:23 PDT
But on the housing front, we see that mortgage rates have pieced the 5.50% barrier and is now at 5.57%.
Example #1: fiat currencies are doomed. After all, if creating "money" out of thin air solves all our problems, why not just let everyone print as much as they want at home? Oh, wait, only the super-wealthy and powerful get the newly created "money"? Oh, that makes it really sustainable, doesn't it?
Gold futures tick up slightly Tuesday after a surge in the U.S. dollar the yellow metal to its lowest close since February.
Fed’s Task To Tame Inflation Difficult Amid “Tremendous” Amount of Uncertainty, Williams SaysMay 10, 2022 - 06:15:23 PDT
The U.S. Federal Reserve's aim of bringing inflation down to its goal without derailing the economy is challenging but doable amid heightened uncertainty on the path of price pressures caused by the war in Ukraine and COVID pandemic, New York Fed President John Williams said on Tuesday.
Funds that manage retirement savings for teachers, firefighters and other public workers returned a median minus 4.01% in the first quarter
On Possible Nuclear Strike, Russia Says: It’s All in Our Military DoctrineMay 10, 2022 - 06:11:20 PDT
Asked if Russia would rule out a preemptive tactical nuclear strike on Ukraine, Russia's deputy foreign minister said on Tuesday that a decision on the possible use of nuclear weapons was clearly set out in Russia's military doctrine, RIA reported.
China’s Imports From Russia Surge to New High, Defying US Calls To Cut Ties Over Ukraine WarMay 10, 2022 - 06:05:10 PDT
China's monthly imports of Russian products including energy hit a record high in April, with Beijing defying mounting Western pressure to distance itself from Moscow following its decision to invade Ukraine. The value of imports from Russia - which has been hit by a barrage of sanctions by the United States...
The dollar’s relentless advance to a two-year high is roiling Asian currencies and pushing policymakers into action to curb losses.
Just a few years after banks helped create a gargantuan market for blank-check companies, they’re pulling away from the deals, afraid of the risks.
Global food prices are soaring near the fastest pace ever as Russia’s invasion of Ukraine chokes crop supplies. The stark fallout is on display in Egypt, the world’s biggest wheat buyer that’s now grappling with higher import bills as the conflict causes a run-up in grain and energy costs.
Michael Novogratz, the billionaire cryptocurrency investor who leads Galaxy Digital Holdings Ltd., said he expects the digital-asset market to be “volatile and difficult” for at least the next few quarters as it remains tied to moves in U.S. equities.