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If the Fed is done hiking rates as signaled by these developments, then there are implications for the dollar and for gold. Here are the details...
HOT MESS: Gold & Silver To Shine As Economy, Markets, Govt & Politics Turn Into One Hot MessJanuary 9, 2019
SD Midweek: Gold & silver undergo healthy pull-backs as the current state of mainstream affairs turns into one hot mess. Here's an update...
Jan 9, 2019 - 05:46:27 PST
"How about laundering money for Mexican drug cartels? That’s illegal, but if a bank gets caught, there are only mild legal consequences."
Total holdings in global gold-backed ETFs finished above $100 billion in 2018, according to the latest data by the World Gold Council. It's the first time ETF total gold holdings have eclipsed the $100 billion mark since 2012.Globally, ETFs added 69 tons of gold in 2018, bringing total holdings to 2,440 tons valued at $100.6 billion.
The Relentless Spending of the Trump Administration: $1T+ Annual Deficit Rises AgainJan 9, 2019 - 05:41:06 PST
"Federal spending outpaced revenue by $317 billion over the first three months of the fiscal year, which began in October, the budget office reported. That was 41 percent higher than the same period a year ago."
"China’s fiscal space is constrained by legacy issues arising from the extraordinarily expansionary policy in the last downcycle, a deteriorating fiscal position, and elevated contingent liabilities, including future pension costs."
Fitch: US Credit Rating May Be Downgraded As Debt Ceiling Fight ApproachesJan 9, 2019 - 05:34:16 PST
"If this shutdown continues to March 1 and the debt ceiling becomes a problem several months later, we may need to start thinking about the policy framework, the inability to pass a budget...And whether all of that is consistent with triple-A."
"The price of gold has gained more than 8% since the beginning of October. The S&P 500 has plunged 14% during the same time frame."
"The overall November figure represented a 6.7 percent increase on a seasonally adjusted basis following a 7.6 percent rise in October."
Italy's Tough-Talk Populists Fold and Bail Out the First Bank That Needs ItJan 9, 2019 - 05:14:59 PST
"It took Italy’s populists just eight minutes to renege on one of their flagship stances. On Monday night, the coalition government gave its go-ahead to a bank bailout, saying it is willing to recapitalize Banca Carige."
"Like Shoppers Maxing Out Credit": Gundlach on the US Federal Debt QuagmireJan 9, 2019 - 05:09:20 PST
"DoubleLine Capital’s Jeffrey Gundlach sounded alarm bells on the growth of the U.S. national debt, calling it a 'horrific situation."
"In a 200-page report issued Tuesday, the international financial institution laid out evidence that emerging markets have been stagnating, as trade has contracted and financing conditions have worsened."
Shutdown Crisis: Unpaid Government Workers Owe $400M in Mortgage and Rent This MonthJan 9, 2019 - 04:59:29 PST
"Altogether, unpaid federal workers owe around $438 million in mortgage and rent payments in January. The federal government has suggested that federal employees barter with landlords if they can’t pay the rent."
Rickards: How Jerome Powell Caved in to External Pressure to Save the Stock MarketJan 9, 2019 - 04:55:34 PST
"When Powell said the Fed would be 'patient' in reference to the next rate hike, this was not just happy talk. The word 'patient' is Fed code for 'no rate hikes until we give you a clear signal.”
Germany appears to be on the cusp of a technical recession.Production in Germany fell by 1.9% in November. Analysts had expected a 0.3% gain. The German statistical agency Destatis also revised October to a 0.8% decline. It was the third straight month of declines.As WolfStreet put it, "This is embarrassing in the land of super-stimulus via the ECB’s negative-interest-rate policy and years of QE that were supposed to perform miracles."
"...the re-introduction of the gold standard would initiate a change in the financial system whereby purveyors of..."
Gold is going to rip past $1400 this year in the very least as major long-term cycles have finally turned. Eric Dubin explains...
Bloomberg: "The Stock Market Is Flashing Warning Signs of a Corporate Profit Collapse"Jan 8, 2019 - 09:08:46 PST
"Everyone knows profit growth is poised to cool this year. But by how much? Analysts who try to answer that question by looking at signals embedded in the stock market are coming up with some worrisome numbers."
After a two year break, China's central bank is back in action again with renewed stacking of physical gold. Here's Stewart with an update...
The significance of gold reaching above $1300 can not be underestimated. What comes next for gold? Here's what the research suggests...