Precious metals are apparently waking up. And here is where you can find the best deals.
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While acknowledging that the difference could be due to commercial reasons, it’s also possible that these banks intervened on behalf of the PBOC to cover the central bank’s tracks, the Treasury said (ZH: or, it is the case that China has been stealthily accumulating some $180 billion in gold, as discussed last Friday in "Beijing Greenlights Purchases Of Billions In Bullion").
Two factors that affect the quality of the recovery should worry us: The upgrade comes mostly from higher government spending and rising debt, and the job recovery is much slower than in previous cycles.
Rival powers, in particular Russia & China, could now be emboldened to test the Biden administration’s resolve a little further. The obvious flashpoint are Ukraine & Taiwan. In recent weeks, the Kremlin has assembled more troops on its border with Ukraine than at any time since 2014 when Russia grabbed Crimea. Last week, China sent a record number of military jets into Taiwanese airspace. Both countries are combining military muscle-flexing with warlike rhetoric.
Russian President Vladimir Putin is likely to respond to the latest round of U.S. sanctions threats as he has to past ones: by speeding his drive to make Russia’s economy more self-sufficient. In the seven years since Russia’s annexation of Crimea, Putin’s government...
Apr 19, 2021 - 10:34:04 PDT
The Federal Reserve is a natural born spread killer! The Federal Reserve is a natural born spread killer!
(Bloomberg) — The tsunami of money and credit pouring into financial markets has washed away much of the available spread for mortgage bond investors.
The Jones Act shields the American shipping industry from foreign competition and harms both the environment and disadvantaged communities.
When it comes to consumer prices, our generation has been brainwashed into thinking a certain way. Rampant inflation is bad, a little inflation is good, and deflation is bad.
Fed's Inflation Problem: Easy Money Creates More Market Than Reported InflationApr 19, 2021 - 09:53:23 PDT
The Fed has an inflation problem, but it's not the failure to meet an arbitrary target. The problem is that there is a significant separation between reported and market inflation. The uncoupling is not new and is a statistical issue. But it has become a thorny policy problem as easy money creates more market than reported inflation.
The Biggest Threat to US Hegemony: China, Russia, or Debt? | Alasdair MacleodApr 19, 2021 - 08:42:09 PDT
Now that the Biden administration has settled in, it is time to reassess American policy towards Russia, China and the wider Asian scene. Is it going to be a continuation of the Trump administration’s policies, or is there something new going on?
“We are fast approaching the stage of the ultimate inversion: the stage where the government is free to do anything it pleases, while the citizens may act only by permission; which is the stage of the darkest periods of human history, the stage of rule by brute force.” — Ayn Rand
Apr 19, 2021 - 08:12:53 PDT
The U.S. consumer watchdog is scrutinizing mortgage servicers' compliance with pandemic relief programs amid concerns struggling homeowners are not getting the help they need to avoid foreclosures, or are being discriminated against, said a dozen people with knowledge of the regulatory effort.
Apr 19, 2021 - 08:07:21 PDT
The people living in those tents had no idea that their burgeoning village kept this man, Federal Reserve Chair Jerome Powell, up at night, or that he kept thinking about them as he drove two blocks south to his office. Powell doesn't know their names or backstories, either. But what he saw was clear. A visceral reminder of the uneven economic recovery. Right there in the Fed's shadow.
Ignore what central bankers are saying; instead, watch what they are doing.
From valuations, to technical deviations, and outright exuberance, there is no way this bull market doesn't end badly for investors once again.
Right now, the stock market is in the land-where-there-should-be-sea phase. What we don’t know is when the wave is coming. Maybe there’s time to venture out and see what treasure was hidden beneath the waves... or maybe not. Prudence would suggest that we go searching for treasure on higher ground.
Since 1972 gold has gone from $35 to $1,750. That’s the power of precious metals. In my opinion the coming inflation and soaring global debt levels all but guarantee another gold run is on its way.
The talk of a “commodity supercycle” has been heating up in the wake of a rally in the Bloomberg Commodity Index off April 2020 record lows. As of early April the index is up 33% over a year earlier. During that same time period, lumber has rallied 280%, with copper and corn rallying 100% and 80%, respectively.
Dr. Scott Gottlieb Expects COVID Cases in U.S. To Fall 'Quite Dramatically' in Coming WeeksApr 19, 2021 - 06:46:56 PDT
Warming weather and continued progress administering Covid vaccines will help lower U.S. coronavirus cases, Dr. Scott Gottlieb told CNBC.
The drop appears to coincide with reports that the US Treasury is planning to tackle financial institutions for money laundering carried out through digital assets.
Apr 19, 2021 - 05:38:57 PDT
“US financial institutions are being weaponised,” a banking regulatory lawyer told the Financial Times, referring to the use of sanctions as foreign policy tools. Experts this week argued that the US government was “outsourcing US foreign policy” to US banks or deploying them as “forward basing” — military terminology for establishing an enduring armed presence beyond home turf.