Precious metals news

The US economy has just over a month before the covid "safety net" is pulled.

“We urge policymakers to use all the tools at their disposal to revitalize the economy, including direct cash payments, which are one of the quickest, most equitable and most effective ways to get families and the economy back on track,” the economists state in an open letter.

Global debt has piled up at an unprecedented pace since 2016, increasing by over $52tn vs $6tn rise over 2012-16, @IIF says. Since the onset of the pandemic, govts have deployed over $12tn to mitigate impact of COVID-19. New debt has less and less capacity to generate GDP growth.

The public outcry against bank bailouts during the financial crisis prompted European governments to constrain the use of public money to help lenders in crisis. New trouble at the region’s oldest bank will test whether these rules can outlast the pandemic.

Gold Is Set to Replace Treasuries. Precious metals are likely to become a key alternative asset class to replace US Treasuries that are now yielding negative in real terms. Long decades of lack of fiscal and monetary discipline will, in our view, lead to a big shift in the way investors view gold and silver. For centuries, monetary metals have served as a perfect hedge for the constant devaluation of fiat currencies worldwide. In today’s macro scenario, these commodities have potential to massively outperform fixed income instruments. Meanwhile, the precious metals to US Treasuries ratio is still near all-time lows. In the years to come, we believe investors will favor gold and silver over sovereign assets.

"Shes liked by banks, OK with progressives and easily confirmed. Plus we keep Lael at the Fed where she can replace Powell at some pt."

Last week’s public spat between Treasury Secretary Steven Mnuchin and Federal Reserve Chair Jerome Powell may have set an end date for the central bank’s unprecedented intervention in U.S. credit markets. But make no mistake, the legacy of this episode will most likely permanently change investors’ mindset during periods of crisis.

Since the Great Depression, times of severe economic duress have demanded aggressive action by the federal government to spend money in order to float the economy until it can become more self-sustaining.

Miners struggling to liquidate crypto holdings because Beijing has frozen bank accounts.

What we need is not a return to the corrupt, tottering kleptocracy of 2019, but a re-democratization of capital, agency and money.

No one has ever put a number to it until now.

Why do bondholders and leveraged speculators have to be enriched, instead of providing fiscal relief to the unemployed and small businesses? That’s the question.

Let us speak of megabanks and global corporations, chicanery and swine, and speak of how the great have feasted in the troughs of trillions dumped out by the present administration, congress, and t…

Fourteen days before U.S. Treasury Secretary Steve Mnuchin released a letter to Federal Reserve Chair Jerome Powell, demanding the return of taxpayers’ money and the end to specific Fed emergency programs by the end of the year...

A vaccine for Covid-19 is on the way, so gold investors should probably pack it in, right? After all, a valid and distributable vaccine will likely create euphoria, and push the stock market up and gold down. The economy will recover, maybe even roar, and with it fear of the pandemic will disappear and leave little need to own gold and silver. At least that’s the consensus view among many mainstream outlets.

With the Federal Reserve creating “moral hazard” in financial markets, it certainly seems as if stocks can never go down. The problem, of course, is that is exactly what sentiment was like prior to the last two major bear markets.

Without question, the student debt crisis is a disgrace. There are roughly 45 million student loan borrowers who owe on the order of $1.6 trillion. Most of this debt is from federal student loans.

QE doesn’t work. It never has. These programs are not money printing because all they lead to is bank reserves while bank reserves are not a useful form of money.

"Bottom line, both fiscal and now monetary policy have become reactive rather than proactive. For markets, that becomes the itch that needs to be scratched."

JPMorgan has earned record revenue of around $1 billion so far this year from trading, storing and financing precious metals, vastly outperforming rival banks, two sources familiar with the matter told Reuters.