Gold has all the potential to go unprecedentedly high. But silver will be gold on
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The institution’s staff is designing a backstop that would be available for the Governing Council to use against debt-market stress caused by shocks outside the control of individual governments, said the officials, who asked not to be identified because the matter is confidential.
Today’s energy crisis, which includes not only oil but also natural gas and coal, could be even worse than the infamous oil crisis of the 1970s.
Containers full of frozen food and chemicals are piling up at China’s biggest port in Shanghai as a Covid lockdown in the city and compulsory virus testing means truckers can’t get to the docks to pick up boxes.
The outlook for crude oil demand in the world’s second-largest consumer is dimmed amid the continued increase in Covid-19 cases and the extended lockdown in Shanghai, where daily cases have topped 2,000.
Latin America’s central bankers are facing renewed pressure to extend aggressive interest-rate hikes after consumer prices stormed past estimates across the region, driven by soaring costs of raw materials.
Rising Mortgage Rates Are Causing More Home Sellers To Lower Their Asking PricesApr 8, 2022 - 11:53:11 PDT
Weakening affordability is causing sellers to get more realistic about their asking prices. There are also more listings coming on the market.
Homebuyer “Pessimism” Hits Bleak Record on Sky-High Prices, Spiking Mortgage Rates. Time to SellApr 8, 2022 - 11:52:02 PDT
If it continues, “we expect to see an even greater cooling of the housing market than previously forecast”: Fannie Mae.
Interest-Rate Surge Ripples Through Economy, From Homes to Car Loans: WSJApr 8, 2022 - 11:47:04 PDT
The market is finally getting the message that the era of cheap money is ending.
Just look at mortgage rates. At the beginning of 2022, the average interest rate on a 30-year mortgage hovered above 3%. Today it stands at 4.72%, according to Freddie Mac . That translates into sharply higher borrowing costs for Americans looking to buy a home—and it is only the beginning.
In today's video you get 2 macro superstars for the price of 1. Stephanie Pomboy steps in to guest host this interview with economist David Rosenberg -- one of Wall Street’s most-awarded analysts over the past 30 years.
Government forbids competition in currencies. Why is that? Is it because The Fed's dollar would quickly lose the competition with gold, silver, and perhaps even Bitcoin? Government can't create gold out-of-thin-air (like it does with dollars) to fund its expansion into every aspect of our lives. But change is in the air.
Do the Ukraine war and the action of the US, EU and UK spell the end of the dollar as the world’s reserve currency? Even with the peace talks recently held in Turkey or the proposed 15-point peace plan, as the Financial Times had reported earlier, the fallout for the dollar still remains.
We will look back at current events and realise that they marked the change from a dollar-based global economy underwritten by financial assets to commodity-backed…
The implication – that reserves held by unfriendly governments can be turned into “worthless computer entries” – is likely to drive a shift out of dollar assets and into alternatives such as “gold and Chinese assets”. That could undermine the dollar’s role as the world’s leading currency.
Apr 8, 2022 - 08:16:23 PDT
Negotiations between the countries has accelerated with Riyadh's growing unhappiness with the United States. “China is offering everything you could possibly imagine to the kingdom,” the official told the Wall Street Journal.
Apr 8, 2022 - 07:39:06 PDT
Iran is likely to begin selling oil and gas in rials instead of US dollars, following the Russian example, which will most likely be bound to gold. The Iranian move would be a further setback for the US dollar, which has been the long-favoured currency for international commerce.
Lebanese Central Bank Gold Reserves Worth $17.5 Billion at the End of February – Central Bank ChiefApr 8, 2022 - 07:34:17 PDT
Lebanon's central bank had an estimated 286 tonnes of gold reserves valued at $17.5 billion at the end of February, central bank governor Riad Salameh told Egypt's Middle East news Agency.
RBA assistant governor Christopher Kent on Wednesday revealed the official was about to “hop on a plane” to check over the holding of about 6400 bars of the precious metal that is worth more than $6 billion.
Earlier this week, Lael Brainard said the Federal Reserve will run off its balance sheet at a considerably more rapid pace than it did last time around. SchiffGold Friday Gold Wrap host Mike Maharrey thinks Brainard and the rest of the Fed officials suffer from delusions of grandeur if they think they can really pull this off. In this episode, he explains exactly why balance sheet reduction is doomed to fail.
‘Own Some Gold’ Because Consumer Confidence Is in the Tank, Says Veteran Chart Watcher: MWApr 8, 2022 - 06:18:44 PDT
“We don’t find inflation, real‐rates, money supply or any of the theoretical inputs to be of much use for golds forward returns. We do, however, find consumer confidence to be a meaningful input, with high levels of confidence preceding weak forward returns and a dearth of confidence setting up bullish returns,” said Jeff deGraaf, founder of Renaissance Macro Research, in a note.
Dollar Riding High After Index Hits 100 for First Time in Nearly Two YearsApr 8, 2022 - 06:08:54 PDT
The U.S. dollar index strengthened to 100 for the first time in nearly two years on Friday, supported by the prospect of a more aggressive pace of Federal Reserve interest rate hikes.