Precious metals are apparently waking up. And here is where you can find the best deals.
Site:
Precious metals news
We can’t print ourselves out of this crisis again, but that isn’t stopping the Federal Reserve from trying. Thursday’s intervention program, the latest in a string of panic moves …
If you ever wondered what the world would look like in an economic collapse...
So, after decades of lethal low interest rates, relentless meddling and gross regulatory malpractice, the Fed has led us to this final, fatal crossroads: Inflate or default.
The only question is whether it will be enough.
Gundlach: Stay Away From Gold ETFs: "What Happens If Everyone Wants Delivery"Apr 13, 2020 - 07:56:56 PDT
“Paper gold” ETFs are little more than speculative vehicles, Gundlach said, and buyers should be aware that holding shares doesn’t amount to having gold bars.
“Gold’s biggest stumbles during this crisis have been because investors were on a search for cash liquidity to cover losses and margin calls elsewhere, not because their attitude toward gold shifted,”
the arrival of mass unemployment; probable sovereign debt downgrades; huge and unsustainable increases in public sector debt, including via unprecedented commitments to private sector debt obligations; an unknown path of pandemic containment;...
Stocks dipped as investors continued to weigh the coronavirus outlook along with a historic oil production cut.
Firms Offer ‘Bankruptcy 101’ Sessions as Defaults Projected to SkyrocketApr 13, 2020 - 07:30:44 PDT
As the economy rattles toward a recession and defaults are forecast to skyrocket, investors and company executives are seeking advice on how best to prepare for what could be a prolonged downturn.
Argentina is headed for its ninth default on sovereign debt, analysts warned, investors are increasingly frustrated and ready to reject the government’s debt restructuring offer expected this month.
M2 “money supply” surged another $371 billion for the week (ending 3/30) to a record $16.669 TN. M2 expanded an unprecedented $1.136 TN over five weeks (up $2.123 TN, or 14.6%, y-o-y). For some perspective, M2 has expanded more during the past six months than it did the entire nineties (no slouch of a decade in terms of monetary inflation).
We have never seen a nationwide lockdown to prevent the spread of a virus. It is right that governments compensate citizens for the quarantines that prevent them from operating and that central banks prevent a short-term liquidity crisis from becoming a solvency crisis. But the answer should not be a cover to bail out the borrowers and speculators out of pocket.
Federal Reserve Vice Chairman Richard Clarida says the central bank has the tools needed to keep the U.S. out of a deflationary trap, even as the coronavirus deals a severe hit to the economy.
Central banks continued their gold-buying spree in February, although the pace of gold purchases has slowed compared to last year's near-record purchases.On net, central banks globally added another 36 tons of gold to their reserves in February, according to the latest data released by the World Gold Council. That was about 33% higher than January's total.
The stock market continued to rally last week despite the fact that the economy remained on lockdown. Stocks made gains even after the weekly report revealing that another 6.6 million people filed for unemployment, bringing the three week total to nearly 17 million people. That's 10% of the workforce.In what kind of world does this make sense? Peter Schiff talked about it in his podcast.
JPMorgan economists now expect a 40% decline in second quarter economic output and a surge in unemployment to 20% in April.
The moves go beyond anything the Fed during the financial crisis in 2008-09, both in scope and speed.
Federal Reserve Bank of Cleveland President Loretta Mester said the U.S. central bank has probably not reached the end of its emergency actions to shelter the U.S. economy from the coronavirus pandemic.“I know at the Fed, we’re likely not done,” Mester told an on-line discussion Friday
As in 2008, the financial relief package leaves most Americans behind. It’s only a matter of time before it leads to an even bigger crisis.
As Marc Faber said at SocGen's January conference, if he could short central banks directly he would do so, but gold is the next best thing; and despite it being sucked into the general commodity malaise, Albert Edwards says "Gold is a must-have holding in this world."