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When the Only Way to Get Elected Is to Make Mathematically Impossible PromisesDec 17, 2018 - 07:45:50 PST
"The past few years have seen more than the usual amount of political upheaval. But, interestingly, most regime changes have resulted in pretty much the same thing: Higher government spending and bigger deficits."
"Additionally, as Bloomberg notes, a gauge of the NAHB six-month sales outlook dropped to the lowest since March 2016 while a measure of current sales for single-family homes decreased to a three-year low."
Peter Schiff: The Economy Is Fundamentally Weak (And Is Sex Really Better Under Socialism?)December 17, 2018
Stocks continued to get pummeled and pundits continue to claim there's nothing to worry about. They say the economy is fundamentally strong. But is it? Really?Peter Schiff doesn't think so.
SD Outlook: Several fundamental and technical factors signal that gold & silver could start their long expected rallies this week. Here are the details...
Dec 17, 2018 - 06:14:15 PST
"Central banks are seen ready and willing to call upon 'money printing' operations as need. The great virtue of this policy course, many believe, is that there is essentially no limit to the scope and duration of 'QE infinity.”
"The 'everything bubble' is deflating. The fact that it’s happening relatively slowly shouldn’t blind us to the real threat: The world is dangerously underestimating how hard it’ll be to deal with the fallout once it pops."
"Despite a period of uncertainty— US-China trade war concerns, sanctions on Iran, fall in the rupee, etc.—silver, unlike gold, has not seen a rally. The market not recognizing the dual status of silver—bullion and industrial commodity—is the prime reason for the metal’s underperformance."
"Conflict Gauge": Dalio's Proprietary World Stress Meter at Highest Level Since 1940sDec 17, 2018 - 05:43:25 PST
"For almost two years now, Bridgewater Associates Founder Ray Dalio has been telling anyone who will listen that the rise of anti-establishment populist parties presents a greater threat to markets than the ebbing of monetary stimulus and burgeoning national debt."
"Over 90% of student loans are guaranteed by the U.S. Department of Education, meaning that if a recession causes a rise in youth unemployment and triggers mass defaults, this contingent liability could prove burdensome for the U.S. government budget,"
"When the Bank Says No": Welcome to Private Credit, the Wild West of LendingDec 17, 2018 - 05:21:50 PST
"What began guardedly, as traditional lenders retreated post-Lehman, has exploded into a financial-industrial complex rapidly approaching $1 trillion, with money streaming in from pension funds, insurers and hedge funds."
IMF: Trade War Hurting Global Growth, May Cut Expectations a Second TimeDec 17, 2018 - 05:16:35 PST
"Citing the potential fallout from the Sino-U.S. trade war, the IMF cut its global growth forecast in October to 3.7 percent for both 2018 and 2019, down from 3.9 percent projected in July."
First Criminal Charges Against Goldman Sachs for IMDB Fraud; Malaysia Seeks $2.7B+Dec 17, 2018 - 05:14:29 PST
"Malaysia filed criminal charges against Goldman Sachs and two former executives for "grave violations of our securities laws" relating to its $6.5 billion Malaysian sovereign wealth fund."
Credit Market Begins to Freeze: Zero Junk Bonds Priced for Month of DecemberDec 17, 2018 - 05:05:26 PST
"Not a single company has borrowed money through the $1.2tn US high-yield corporate bond market this month. If that freeze continues until the end of the month, it would be the first month since November 2008 that not a single high-yield bond priced in the market."
Meanwhile, in Europe: "Disastrous" Online Sales Numbers; "Retail Apocalypse"Dec 17, 2018 - 04:58:25 PST
"This goes against the script,” said Stephen Lienert, a credit analyst at Jefferies. “It was supposed to be bricks and mortar that’s dying and online is the future, but that headline gets ripped up today."
After Guilty Please by Metals Trader, JPMorgan Could Be Hit With Class ActionDec 17, 2018 - 04:52:50 PST
"A combined case, seeking class action status, would include anyone who purchased or sold futures contracts or an option on NYMEX platinum or palladium or COMEX silver or gold between at least Jan. 1, 2009, and Dec. 31, 2015."
How much gold does China really have?The short answer is we don't really know.Officially, the Chinese central bank's reserves stand at 1,842.6 tons. But the People's Bank of China has not announced an increase in its gold hoard since October 2016. But it has almost certainly added gold to its reserves since then. Just how much is anybody's guess.
"...the intraday level is only $10 above the December 2016 low of 1045. Double bottom, anyone?"
New international financial standards take place on January 1st. Bullion banks are acquiring physical ahead of the change. Here's Andrew with the details...
The paper gold market is a casino that has nothing to do with the real price of gold. How do we get to the real price of gold? Here's Egon […]
Investors will be surprised to know the main factor that drives the gold price. And no, it isn't the oil price or market. While the oil price has been a good indicator for the gold price over the past 50+ years, it hasn't done much over the shorter term. However, there is a gold market...