Precious metals are apparently waking up. And here is where you can find the best deals.
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While not mentioned by name, the multilateral development banks, including the World Bank, European Investment Bank and Asian Development Bank, have billions of dollars in outstanding loans. The Institute of International Finance estimates that the world’s poorest nations have some $140 billion in general government debt-service obligations due through the end of the year.
Bankruptcy Looms Over U.S. Energy Industry, From Oil Fields to PipelinesApr 23, 2020 - 08:26:46 PDT
U.S. shale producers, refiners and pipeline companies are scrambling for cash and face likely restructuring as they struggle under heavy debt loads and a dual supply/demand shock in the worst crisis the oil industry has faced.
The collapse in oil prices is set to worsen China’s factory deflation in the coming months, building pressure on the central bank to loosen monetary policy more decisively.The most recent energy slump is another hit to companies already grappling with higher costs, broken supply chains
...the petro-economy that has kept ayatollahs and ideologues afloat is crumbling... before anyone cheers it’s worth remembering that things will get a lot uglier before they have any hope of improving.
Even if the U.S. government will install an outright ban on Saudi oil, it won’t make much of a difference considering the huge demand destruction and filling storage tanks
New Home Sales crashed by 15.4% MoM - the biggest drop since July 2013 - smashing the year-over-year comparison down 9.5%...
There is just one problem: there are simply not enough bonds available in the open market for the central bank to buy.
The Cares Act has raised the Fed’s fiscal actions to an entirely new level, further blurring the distinction between the Fed and the Treasury, as well as the distinction between monetary policy and fiscal policy.
Fed Focuses on Lending Programs, Monetary Policy Deliberations Loom: WSJApr 23, 2020 - 07:39:50 PDT
Fed leaders have suggested they are comfortable with their current policy stance, but big questions will dominate deliberations at their two-day policy meeting next week, including how to manage bond-buying efforts and how long to extend those easy-money policies.
If government or other debt is downgraded to junk status, that could rule it out as collateral – hobbling banks’ ability to keep lending and potentially forcing them to sell the debt, further dragging down economic activity.
Junk bonds will remain outside the European Central Bank’s quantitative easing universe for now, even after changes to rating criteria that make recently downgraded bonds eligible as collateral for liquidity operations.
In essence, the Fed has now injected itself into almost every domestic money and bond market domain.
"Talk about a potential blow to morale. There might be light at the end of the tunnel, but we’re still in it..."
Gold has been in the spotlight in recent months with the economic chaos caused by the coronavirus pandemic and governments' response. Peter Schiff called gold a "no-brainer" investment. But silver is worth paying attention to as well.The Silver Institute has released its World Silver Survey 2020 report featuring a detailed overview of last year's silver market and a look ahead as we move through the current year.
“Metals focus expects silver to outperform gold later this year, which could see it test $19.00 again before year-end,” the Silver Institutes statement concluded.
“In a direct opposite to the glut in the oil market, physical gold is seeing a shortage and so the price on the ‘nearest to deliver’ futures contract is experiencing sporadic $50+ surges in premiums relative to spot,” wrote Albert Edwards, global strategist at Societe Generale
With gold not trading as a safe haven asset of late, it has performed well during an improvement in risk appetite in recent days. The renewed breakout above $1702 seems to have put to bed a corrective phase and the bulls are back in control. We favour long positions for a test of the highs again
US Jobless Claims Hit 4.4 Million, Bringing Total to More Than 26 MillionApr 23, 2020 - 05:34:04 PDT
First-time claims for unemployment insurance were expected to total 4.3 million last week, according to economists surveyed by Dow Jones.
Could it be that mainstream media and financial institutions are finally waking up to the true role of gold? It has taken a while, but the train may be pulling into the station. Join Mike Maloney as he explores the latest new in gold, silver….and online censorship.
Why is the mainstream financial media mostly ignoring gold? Peter Schiff talked about it in a recent podcast. He said the investment pundits are missing the boat on a "no-brainer" investment.