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Prepping Basics: It's Your Dime Interview with Preparedness Expert Suzanne ShermanNovember 29, 2018
Are you prepared for a disaster?People tend to stereotype "preppers" as tinfoil hat wearing conspiracy theorists waiting for the zombie apocalypse. Suzanne Sherman busts all the stereotypes.
Fed Chair Releases Dovish Trial Balloon; Says Interest Rates Are Close to "Neutral"November 29, 2018
Stocks rallied and the price of gold got a bounce after Federal Reserve Chair Jerome Powell released a dovish trial balloon on Wednesday.During a speech at the Economic Club of New York, Powell seemed to indicate interest rates are "just below the broad range of estimates of the level that would be neutral for the economy." Investors and pundits widely interpreted this to mean the central bank may well be near the end of its tightening cycle.
US stocks turned down (S&P finished off 6 to 2738), while the 10-year yield was either side of 3.03%. The DX drifted down to 96.75, and gold bounced back to $1,224.50. The yellow metal was $1,224 bid at 4PM with a gain of $3.
Refusals To Answer Simple Questions Should Be Enough To Settle The Gold-Rigging IssueNovember 29, 2018
Who really can't believe governments and central banks rig the gold market if they won't even answer simple questions? Here are recent examples...
Kass Calls the Next Black Swan, and It's Derivatives Death Star Deutsche BankNov 29, 2018 - 09:59:18 PST
"Deutsche Bank has no current profits, is in a state or operating flux, is being forced to sell assets, has an extremely low equity capitalization and a large and leveraged balance sheet."
Peter Schiff: The Next Round Of Fed Quantitative Easing To Send Gold To New All-Time HighsNovember 29, 2018
When the Fed reverses course, and instead of hiking rates, the Fed cuts rates and restarts QE, Peter explains why this will send gold to new all-time highs...
Deep Freeze: Following Severe New Home Sales Dropoff, Pending Sales Hit 4-Year-LowNov 29, 2018 - 08:05:40 PST
"Pending sales fell in three of four regions, led by a an 8.9 percent slump in the West as the Midwest and South also declined. Economists consider pending-home sales a leading indicator because they track contract signings; purchases of existing homes are tabulated when a deal closes, typically a month or two later."
The US will spend more on debt interest in the next 45 days than is earmarked for the entire FY 2019 federal education budget. "US gov't last year on average paid $1.5bn each day in interest payments, and this is rising toward $2bn per day over the coming years."
There are only two possible options: Powell either caved to external pressure from Trump and a falling stock market to totally reverse his rate-raising stance, or the market mistook "near neutral" for meaning exactly that, and not "near the bottom of a wide range of estimates of what 'neutral' might be."
Hussman: ZIRP Good for the Economy Like 'Amphetamine-Laced Cocaine' 'Good' for YouNov 29, 2018 - 06:17:08 PST
"Of all the delusions that have infected the minds of economists, central bankers, and the investing public in recent years, perhaps none is as short-sighted and pernicious as the idea that aggressively low interest rates are “good” for the economy and the financial markets."
Harvey is back with some great news for gold bugs! Harvey explains a development which would be a rocket blast for gold. Here are the details...
"The continued loss of optimism suggests the euro area’s poor performance in the third quarter isn’t as temporary as policy makers initially expected. ECB President Mario Draghi cited 'prominent' risks earlier this week and others have cautioned that headwinds are becoming increasingly noticeable."
"The President can nominate a chair but once the chair is confirmed, the president is out of it and the only way you can remove a chair from office is literally if they broke the law. Congress will have to find a cause to remove them from office through a vote and a procedure."
The Incredible Shrinking Eurozone: Swedish, Swiss Economies Both Contract 0.2% in Q3Nov 29, 2018 - 05:39:26 PST
"Economists had expected Switzerland and Sweden to expand in the third quarter, but output fell 0.2 percent in both. Each was hit by a slowdown in domestic demand, and Switzerland in particular suffered from a drop in exports."
Big Bank Morgan Stanley Confident Big Banks Will Do Well No Matter What Fed DoesNov 29, 2018 - 05:28:21 PST
Of course, we are all well served to remember that when things inevitably go poorly, the Fed will be there at the beck and call of Morgan Stanley and the rest of its Too Big To Fail friends to ask exactly what the American taxpayer can do to save them from their own overrisked, overleveraged behavior.
Deutsche Bank officers have been raided by federal police due to money laundering charges; given the multiple, separate money laundering crimes they're being investigated for, more detail is required. This raid has to do with the 2016 Panama Papers case.
"The move, apparently the first of its kind since the sanctions went into effect, has sent Wall Street bankers scrambling to determine whether the opportunity for new business is worth the political downside of bucking the administration’s warning."
Nov 29, 2018 - 05:08:36 PST
"I know my readers are tired of my typical line of cynicism but it has never been more relevant than this week. On Monday, NASA succeeded in landing a space vehicle on Mars. However, the FOMC can’t even define what the neutral rate of interest is for the U.S. economy."
Even After IMF Downgrade of Global Economy, Data Suggest Things Are Getting Worse StillNov 29, 2018 - 05:04:44 PST
“We know that rising trade barriers are ultimately self-defeating for all involved,” IMF chief Christine Lagarde said. “Thus, it is imperative that all countries steer clear of new trade barriers, while reversing recent tariffs.”
BoE: "Extreme Brexit" Likely to Be More Damaging to UK Than 2008 Financial CrisisNov 29, 2018 - 05:02:35 PST
"Hours after the government issued its own stark warning about a no-deal Brexit, the BoE said the economy could shrink by as much as 8 percent in about a year."