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Gold Climbs Toward $1,900, Looks to Extend Rise to 4-Month Highs As Bitcoin Tumbles: MWMay 19, 2021 - 09:09:24 PDT
“Whatever role crypto might play today or in future, it can’t replace gold as a diversification tool for savers and investors wanting to cut their overall portfolio risk.”
Binance, the world’s biggest cryptocurrency exchange, temporarily disabled Ethereum withdrawals, citing network congestion, while Coinbase Global Inc. reported “intermittent downtime” on its platform, before saying it had identified and fixed the issue. Kraken said it’s working to fix some client disruptions.
Coinbase is reeling from outages as a massive cryptocurrency selloff takes place.
Did Chinese Selling Of U.S. Treasuries Lead To The Chinese Purchasing And Stockpiling Real Assets In An Effort To Combat The Fed’s Desire To Provide Unlimited Liquidity?
"This is the markets worried that the Fed will be late," says @elerianm. "That's why you get the market itself starting to question the liquidity paradigm."
Stock Market Leverage Hits All-Time Highs, the Fed Warns About Hidden LeverageMay 19, 2021 - 07:02:52 PDT
Margin debt is just the visible tip of the iceberg of leverage, and it reached the zoo-has-gone-nuts level.
Why China’s Digital Yuan Is ‘Largest Threat to the West’ in Past 40 Years, According to Kyle BassMay 19, 2021 - 06:48:29 PDT
Kyle Bass, chief investment officer of Hayman Capital Management, says that the biggest threat to the West is the advent of the digital yuan, which he has described as a Trojan Horse that could undermine developed Western countries.
China Crackdown On Crypto Wipes $1 Trillion In Wealth As Ether Crashes 40%, Bitcoin Below $35kMay 19, 2021 - 06:39:10 PDT
Update (0900ET): Things escalated a little more since we first wrote this morning. Ethereum is the biggest loser, crashing below $2000 (briefly), down 40% on the day, and Bitcoin is testing $32k (down 25%)...
Gold slipped from the highest level in more than three months as the dollar strengthened before the release of minutes from the Federal Reserve’s meeting in April. European stocks and U.S. equity futures dropped on Wednesday amid a broad deterioration in risk appetite. ..
Big Institutional Investors Are Dumping Bitcoin and Going Back Into Gold, JPMorgan Says: CNBC ProMay 19, 2021 - 05:42:04 PDT
After two quarters of institutional investors favoring bitcoin over gold, the trend is reversing, according to new research from JPMorgan.
Big Institutional Investors Are Dumping Bitcoin and Going Back Into Gold, JPMorgan SaysMay 19, 2021 - 05:42:04 PDT
After two quarters of institutional investors favoring bitcoin over gold, the trend is reversing, according to new research from JPMorgan.
Silver pushed above $27 an ounce last week and rallied to over $28.50 on May 18. There has been some selling since, but as of the morning of May 19, the white metal was trading around $27.40 an ounce. That's a better than 70% increase year-on-year. Even the mainstream is bullish on silver with many commodity analysts saying the rally will likely continue.
Bitcoin Tanks 20% in 24 Hours to Fall Below $37,000, Hitting Lowest Level Since Feb. 3May 19, 2021 - 05:39:59 PDT
Negative news over the past week has dampened sentiment for bitcoin.
Summers: Fed Officials Need to ‘Walk Outside’ to Know They’ve Got It Wrong on Jobs & Easy Policy: MWMay 19, 2021 - 05:37:40 PDT
Former Treasury Secretary Larry Summers on Tuesday continued to criticize the Federal Reserve's easy policy stance, saying it may do real damage to the economy.
The World Is ‘Standing on the Precipice’ of Multiple Crises, Former UN Chief WarnsMay 19, 2021 - 05:35:19 PDT
Ban Ki-moon called on global leaders to raise their ambition in order to avoid failures on a range of different issues.
Today we look at the US dollar biting the dust as real US yields continue to decline and the long end of the US yield curve remains quiet despite fireworks elsewhere of late. Also, a look at interesting signal...
Gundlach: ‘Wealth Taxes Ladled on Top of Our Current Tax System Basically Punishes Success’May 19, 2021 - 05:31:40 PDT
"I think, the wealth tax is primarily vengeance, really. I don't think it raises very much money … I am in the camp that wealth taxes ladled on top of our current tax system basically punishes success,"
“The data and the evidence are clear: The proposed tax increases would greatly disadvantage U.S. businesses and harm American workers,” Suzanne Clark, president of the U.S. Chamber of Commerce, said following Yellen’s speech to the group Tuesday morning. “And now is certainly not the time to erect new barriers to economic recovery.”
Inflation in the UK rose by 1.5% in the year to April, compared with 0.7% in March.
European stocks retreated on Wednesday, following a dip in global markets.