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Polish Central Banker Says Negative Rates an Option if Sentiment WorsensOct 12, 2020 - 12:06:31 PDT
Poland should not hesitate to introduce negative interest rates if there is a big drop in consumer sentiment, central banker Eryk Lon said on Monday, although he aded that stable rates remained the most likely scenario. Poland has cut interest rates three times by a cumulative 140 basis points since...
World Bank’s Malpass Says G20 May Agree to Only Six Month Debt Relief ExtensionOct 12, 2020 - 12:02:38 PDT
Some G20 creditor countries are reluctant to broaden and extend another year of coronavirus debt service relief to the world's poorest countries, so a six-month compromise may emerge this week, World Bank President David Malpass said on Monday. Malpass, speaking to reporters as the World Bank'
Hoisington Investment Management Co., famous for its bullish view on Treasuries over the past three decades, is warning about potential risks to bonds if the Federal Reserve follows in the footsteps of other central banks that fund government deficits.
There is reluctance among European Central Bank policymakers to follow the U.S. Federal Reserve's move to target an average inflation rate, fearing this could tie their hands, sources involved in a revamp of ECB policy told Reuters. The four central bank sources, including members of both the hawkish
he Federal Reserve is determined to push inflation higher from levels it considers dangerously low. For that to happen, it must first convince everyone that prices will accelerate in coming years.
Prospects for a quick end to the stalemate over a new stimulus faded Monday with members of the House being told not to expect any action this week and many Senate Republicans rejecting the White House proposal for a deal.
And when the government embraces expanding budget deficits funded by the Federal Reserve, as with George W Bush’s “guns and butter” policies or Donald Trump’s rapid deficit expansion, gold massively outperforms the broad equity market.
If Comex Silver positions had more stringent restrictions on the hedgers, we would have seen Silver really explode, as another...
I am skeptical that the fiscal stimulus talks dominating headlines will amount to any actual stimulus.
Eugene Fama, Nobel laureate and Professor of Finance at the University of Chicago, doesn’t believe in a stock market bubble. But he is worried about the high levels of government debt. He warns that investors could stop perceiving government bonds as risk-free. A conversation with the «father of modern finance».
"The current moment of crisis is extraordinary. No prior disease has become a global threat so quickly as Covid-19."
Lawmakers Have Been Discussing Second $1,200 Stimulus Checks for 5 MonthsOct 12, 2020 - 10:20:47 PDT
The coronavirus pandemic has hit Americans' wallets hard. Many are hoping for more financial relief from the federal government, namely second $1,200 stimulus checks. While lawmakers on both sides of the aisle agree on those payments, they're still clouded by uncertainty.
For the powerful city-state of Athens in ancient Greece, the year 430 BC was one of the most tumultuous and dramatic in its history. Prior to 430 BC, Athens had been at the pinnacle of stability and…
And so we face the ultimate irony: 'bailing-out-everything' destroys the entire rotten system.
Status of the Social Security Trust Fund, Fiscal 2020: Beware of Vicious DogOct 12, 2020 - 09:44:33 PDT
Will Social Security Be There for You? Yes, but…
Conventional wisdom says that the economy is booming again. The Global Financial Crisis was finally overcome, and the global system put right after so many sluggish years. Thank you, central bankers, for your courage!
They say that time travels are impossible. But we just went back to the 1960s! At least in the field of the monetary policy. And all because of a new Fed’s framework. So, please fasten your seat belts and come with me into the past and present of monetary policy – to determine the future of gold!
The timing could not have been worse, though in the grand scheme of things it is just perfect. It was barely two weeks ago when Jay Powell was announcing what he and others were claiming was a huge, massive deal. No longer a specific inflation target, but one that would be averaged high against low.
The best performing precious metal for the week was silver, up 5.97 percent, perhaps related to Goldman Sachs suggesting investors go long with the boost seen from a greater expansion of solar energy. Gold rose for a second straight day on Thursday on hopes that Congress will provide another round of stimulus for the economy. The yellow metal was then up 2 percent on Friday morning on a weaker U.S. dollar.
Oct 12, 2020 - 08:34:27 PDT
I believe there's additional upside potential for gold--no matter who wins the election. In about 20 days, millions of Americans will be betting on "red," millions of others on "blue." I'll be betting on gold.