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Central Banks Bought More Gold In The First Half Of 2019 Than In The First Half Of Any Year...EVER!August 2, 2019
"...the largest acquisition of the precious metal on record..."
Borrowing dollars has gotten even more expensive in recent weeks and the squeeze is starting to show up in global money markets.The premiums that investors have to pay to swap euros, pounds or yen into dollars for three months are close to their highest levels this year, as measured by
In the past, central banks set the price of money using interest rates. This week the US Fed reduced interest rates by a quarter of a percentage point to 2.25 per cent. The chairman of the Fed, Jay Powell, did an admirable job of presenting it as business as usual.
The downturn in the global manufacturing sector extended into its third consecutive month in July. Production and new order intakes declined further...
Long-time financial management expert Jeff Harris joins today's Report to discuss what the collapse might look like and what people might do to protect themselves.
The gold market has ignited, with the price now at fresh highs for the year. As we write on Friday August 2, gold is trading at $1,446 per ounce. That represents a 13% year-to-date gain. The reasons for the spark aren’t difficult to identify. Trump unexpectedly announced a fresh round of tariffs on China yesterday. Gold immediately responded, while stocks abruptly sold off. The trade and currency wars between the US and China seem to have no definitive end in sight.
U.S. stocks met resistance and dropped sharply — a harbinger of things to come?
Confession time.I'm spoiled. And old.I knew this already, but this past week has magnified these truths.
The elephant in the room remains the inflation cycle downturn that leaves the Fed with little choice but to cut rates.
The entire fractional-reserve system is held together by lies and smoke and mirrors; that is, by an Establishment con. … The banking system, in short, is a house of cards. …
Yesterday, the Fed's Federal Open Market Committee lowered the target federal funds rate by 25 basis points, dropping it to 2.5 percent. The Fed had last changed its target rate in December of 2018, when it raised the rate from 2.25 percent to 2.50 percent.
For the first time that we can remember, an FOMC member - Boston Fed president Eric Rosengren - listed the (record) level of the stock market as one of the reasons why he dissented from Wednesday's decision to cut rates.
The Federal Reserve came through with its first interest rate cut in more than a decade this week. But with Jerome Powell trying desperately to convince everybody that this wasn't the beginning of a long cutting cycle, the stock markets weren't pleased. And neither was President Trump. So, he decided to put his own fingerprint on the markets, announcing new tariffs on Chinese products. In this week's Friday Gold Wrap podcast, host Mike Maharrey breaks it all down and explains how it impacted the gold market.
On Friday afternoon, the European Central Bank announced that its 20-year old Central Bank Gold Agreement was no longer necessary, while confirming that: “Gold remains an important element of monetary reserves” – we couldn’t agree more. Post by Natalie Dempster
The American people have been a patsy for Wall Street and its crony regulator long enough.
Gold’s haven appeal continues to lift the precious metal Friday, a day after President Donald Trump shook up global financial markets by moving to intensify...
A new report from the National Low Income Housing Coalition (NLIHC) indicates that the two are more intrinsically tied than ever before.
‘People really started using their homes as ATMs, and when the market plummeted they ended up upside-down’
Home-improvement chain will outsource maintenance, assembly jobs as retailers scrutinize labor costs.
So much for expectations of a census-driven hiring spree.