Precious metals news

Prime Minister Justin Trudeau and other world leaders today called for a coordinated global response to what the United Nations says is a looming international debt crisis caused by the COVID-19 pandemic.

President Biden will outline his massive $3 to 4 trillion infrastructure plan Wednesday, which will create four tax increases worth around $1.8 trillion, the White House revealed.

Federal Reserve Vice Chair for Supervision Randal Quarrels says that investors should take the U.S. central bank at its word that it will deliver an overshoot of its 2% inflation target. “I think it is very credible to expect the committee to be comfortable with inflation somewhat over our 2% target,” he said Tuesday after giving a speech on financial regulations

Home price gains are accelerating at an alarming pace, a sharp, pandemic-induced inflation that some claim is not getting enough attention from the Fed.

Biden is set to unveil his infrastructure and recovery plan, and some Democrats want it to include emergency economic aid like stimulus payments.

Not only have the Fed's free-money speedballs made it essentially free for financiers to speculate in the stock market casino, the Fed has rigged the game and bailed out its cronies whenever their bets soured. This has fueled infinite moral hazard: Go ahead and gamble with free money from the Fed, and go ahead and leverage it up 10-to-1 because the Fed will bail you out if you lose, but if you win, the stupendous gains are yours to keep.

Banks, as prime brokers and counterparties to the hedge fund, are eating multi-billion-dollar losses as they try to get out of these secretive stock derivative positions.

Georgieva said support was building for a possible $650 billion expansion of the IMF’s Special Drawing Rights, which would help all members but especially the most vulnerable, by boosting reserves without adding to their debt burdens.

The lawsuit centers around how companies obtain sensitive information about users during the real-time bidding process.

On another note… We think gold could DOUBLE and silver could increase by up to 5 TIMES in the next few years.

Writing in the Financial Times, Jeremy Siegel, professor of finance at the Wharton School of the University of Pennsylvania, warned “higher inflation is coming, and it will hit bondholders”.

Note A: Hanke's annual inflation rates are implied from free-market exchange rates; inflation values under 25%/yr should be considered unreliable. Note B: Countries for which Hanke's annual inflation rate is at or exceeds 25%/yr are red. Countries that do not meet this threshold are yellow.

Maybe with just a few more trillion dollars of helicopter cash, that Main Street confidence will catch up?

And according to Case-Shiller, US home prices in 20 major cities are up a shocking 11.10% year-over-year.

The dollar gained against major currencies on Tuesday and climbed to a one-year high against the yen, as accelerating U.S. vaccinations and plans for a major stimulus package stoked inflation expectations and raised Treasury yields.

A discussion draft marks a first attempt to put details on an idea that President Biden endorsed during last year’s campaign.

More than half of public school K-12 teachers said the pandemic resulted in a “significant” learning loss for students, both academically and in their social-emotional progress, according to a report.

The IMF has raised concerns over commercial property and the risk it could pose to financial stability.

We have been saying that given the extraordinary level of money printing the Fed has done since the beginning of the pandemic, a wave of price inflation is coming down the pike - perhaps even hyperinflation. But many will be quick to remind us that we raised the warning flag about inflation when the Fed launched three rounds of quantitative easing in the wake of the 2008 financial crisis. In fact, Paul Krugman has been doing victory laps again - reminding everybody that the inflation monster never did come out of its lair and promising it won't this time either.
Basic economics tells us that increasing the supply of money without a corresponding increase in the number of goods and services in the economy should lead to rising prices. Is basic economics wrong? Or are there other things going on in the economy that suppressed or hid inflation in the aftermath of the great recession?

“U.S. Treasuries care more about inflation than Archegos fallout, and they continue their fall,” Steen Jakobsen, chief investment officer at Saxo Bank in Hellerup, Denmark, wrote in a note.