Precious metals are apparently waking up. And here is where you can find the best deals.
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We have a debt ceiling deal.And the deal is there is functionally no debt ceiling until January 2025.
As the United States ramps up Green Energy, the tremendous costs and problems are escalating. We can see this through a perfect example in the Troubling Signs at PGE - Portland General Electric Utility. PGE is a typical example of the Green Energy Transition Disaster occurring in the U.S. and worldwide.
The BLS reported that a whopping 339,000 jobs were added in May. This crushed median estimates of 190,000 jobs added. The Household Survey tells a very different story though, reporting a loss of 310,000 jobs.
The precious metals expert delves into the underreported decision of the People’s Bank of China to start preparing its 1.4 billion citizens for opting out of the dollar and into gold, explaining how this will impact gold’s supply, demand and price.
The bottom line is gold’s hawkish-Fedspeak-driven May pullback has likely mostly run its course. Top Fed officials have been talking tough on future rate hikes, but now they have to quit with the next FOMC meeting nearing. That should help reverse recent heavy gold-futures selling into buying, reigniting gold’s interrupted upleg. Battered gold stocks will fly higher with gold, earning fast gains for smart contrarians.
Gold slipped on Friday as hotter-than-expected U.S. jobs data lifted Treasury yields, but was on track for a weekly gain as a higher unemployment reading kept alive hopes that the Federal Reserve would pause interest rate hikes.
Following a historical high level of central bank gold buying, gold continues to be viewed favourably by central banks. Our 2023 survey revealed that 24% of central banks intend to increase their holding reserves in the next 12 months. Furthermore, central banks’ views towards the future role of the US dollar were more pessimistic than in previous surveys. By contrast, their views towards gold’s future role grew more optimistic, with 62% saying that gold will have a greater share of total reserves compared to 46% last year.
In 2023, we are most likely going to see a repeat of last year, according to the Institute, which expects the market deficit to remain high at 142.1 million ounces on the back of solid demand.
This indeed has proven to be the case, for after Q1 2023 drew to a close, the World Gold Council estimated that in the first quarter of 2023, the world’s central banks had again been net buyers of gold. This is the strongest first quarter of central bank gold buying on record.
Consequently, recessions have between little and nothing to do with the general level of prices. They are driven by other factors that have more to do with changes in the purchasing power of credit when it is unanchored from sound money, which internationally is simply gold.
Powell. With the upcoming June 14 meeting just two weeks away and the current probability of no rate hike standing at 62% according to the CME FedWatch Tool, it remains to be seen whether the Fed has finally abandoned its pursuit of raising rates to “fight inflation.”
After countless predictions of economic armaggeddon and panicky entreaties to raise the debt ceiling with no strings attached, the Biden White House and Congressional Republicans agreed on a new budget deal this week that does virtually nothing at all to change the status quo.
A new Fed survey shows that banks are cutting back on lending big time. Over the past thirty-five years, this almost always predicts recession. Our economy can't survive without endless new infusions of easy money. Original Article: "Banks Are Lending Less Money, and That's a Formula for Recession"
According to some commentators, the US banking crises is over, or at least can be easily managed by the Federal Reserve System. In addition, the Fed chairman has vouched for the health of the US banking sector. However, the banking crisis is likely in its early stages.
According to the report, US banks lost $472 billion in deposits during the January-March period, marking the fourth consecutive quarter of industry outflows. The decline was primarily from uninsured funds, the FDIC said, noting that insured deposits actually increased by $255.1 billion, or 2.5%, amid the failures of several regional banks.
Jun 2, 2023 - 08:39:31 PDT
On Thursday, for instance, New York City’s Banking Commission took action against Capital One and KeyBank, major banking institutions, for failing to submit anti-discrimination plans to the city. New York City Comptroller Brad Lander announced in a press release that the commission voted to “freeze NYC’s deposits” at both banks. “The headline is a wobbly one, given the recent banking system chaos. But, the detail is oh-so NY,” Eamonn Sheridan commented on Forexlive.
As of May 19th, the index was at -4.015, up 3.364 from the previous week. This is the seventh consecutive week the index has increased and is the highest reading since the week of June 3, 2022. The index has been in negative territory for the past 53 weeks, beginning the week of May 20, 2022.
Central bank digital currencies are usually touted as a tool for improving cross-country payment systems, fostering financial inclusion, or providing a substitute for diminishing cash. But as important as these benefits may be, they are secondary to the indispensable role CBDCs could play in preserving monetary sovereignty.
Ray Dalio isn't impressed by the debt-ceiling deal – and says the tentative agreement doesn't address the problem that the heavily indebted US government keeps borrowing more and more money.
Could monetary conditions be supportive of the “soft landing” scenario? While the “recession” versus “no recession” debate rages, there is a precedent for a “soft landing” scenario. Such is where the economy slows substantially but avoids a deeper contraction. However, the problem with that is that it works against the Fed’s mission of bringing down inflation.