| |
 | Mish - Global Economic Analysis |
| Citizens Will Soon Turn their Rage Towards Central Bankers |
| Via Email, I received an interesting article from Albert Edwards at Societe Generale. Edwards claims citizens will soon turn their rage towards Central Bankers.
In an age of “radical uncertainty” how long will it be before angry citizens tire of blaming an impotent political system for their ills and turn on the main culprits for their poverty – unelected and virtually unaccountable central bankers? I expect central bank independence will be (and should be) the next casualty of the current poliFriday, June 23, 2017 |
|
 | Jason Hamlin - Gold Stock Bull |
| How to Profit from Irrational Low-Inflation Exuberance |
| Everyday Definition of Inflation: “Stuff costs more.”
U.S. Government Definition of Inflation: “After extensive statistical analysis and data manipulation … yada yada yada.”
Shadowstats publishes their version of consumer price inflation. The Chapwood Index is another version. Both indicate real inflation rates in the U.S. are MUCH HIGHER than the official government statistics.
THE PROBLEM WITH INFLATION MEASUREMENTS:
Inflation measurements, or more properly, consumer price inflation, or eThursday, June 22, 2017 |
|
 | Phoenix Capital - Gains Pains & Capital |
| Junk Bonds Signal the Great Global Debt Binge Is Coming to an End |
| The market has gone absolutely nowhere for 15 weeks now.
That is not a typo, nor am I bearing overly negative. Since the end of February, when President Trump last tweeted that he had big plans for the economy, the S&P 500 is up a total of just 1.6% or roughly 39 points.
And THIS is the raging bull market that everyone is so crazy about? A market in which it took almost FOUR months for stocks to eek out a 1.6% gain?
Meanwhile against this backdrop of unhinged bullishness, the credit markets areThursday, June 22, 2017 |
|
| USA GOLD - USA Gold |
| BOJ’s Kuroda: need to stick with easing, watch price trend |
| Reuters/Stanley White/06-21-17
Bank of Japan Governor Haruhiko Kuroda said maintaining the current easy monetary conditions is appropriate because prices are lagging improvements in the economy and remain distant from the central bank’s inflation target.
…”Our economy is on firmer footing, but we are still distant from our 2 percent inflation target,” Kuroda said.
“It is appropriate to keep monetary conditions easy with our current market operations framework.”Wednesday, June 21, 2017 |
|
 | Julian D. W. Phillips - Gold Forecaster |
| Gold Market Morning: June-21-2017: Gold still stabilizing below $1,250 |
| Gold Today–New York closed at $1,243.50 yesterday after closing at$1,251.5 yesterday.London opened at $1,246.00 today.Overall the dollar was slightly stronger against global currencies, early today. Before London’s opening:-The $: € was slightly stronger at $1.1145 after yesterday’s$1.1155: €1.-The Dollar index was stronger at 97.66 after yesterday’s 97.57.-The Yen was stronger at 111.14 after yesterday’s 111.39:$1. -The Yuan was slightly weaker at 6.8264after yesterday’s 6.8258: $1. -The Pound Wednesday, June 21, 2017 |
|
 | Steve Saville - Speculative Investor |
| The Central-Bank Moment |
| Hyman Minsky was an economist who popularised the idea that “stability leads to instability”. According to Minsky and his followers, credit expands rapidly during the good times to the point where a lot of borrowing is being done by financially fragile/vulnerable entities, thus sowing the seeds of a financial crisis. That’s why the start of a financial crisis is now often referred to as a “Minsky moment”. Unfortunately, Minsky’s analysis was far too superficial.
Minsky described a process duringWednesday, June 21, 2017 |
|
 | Andy Hoffman - Miles Franklin |
| My Newest “Most Likely To Catalyze The Big One” |
| Today’s article is one of my scariest yet; as, after watching events unfold in the world’s most notorious geopolitical hotspot in recent weeks, it’s difficult to come up, using my best Spock-like logic, with an alternative conclusion to the potentially catastrophic one I’ll discuss today. Which, if it occurs, may catalyze not only the financial “big one” we all know is coming, but an era of political, geopolitical, economic, and monetary destabilization unlike; and potentially, unparalleled in Tuesday, June 20, 2017 |
|
| Bullion Vault |
| Gold Price Hits New 1-Month Low as 'Hawkish' Fed Considers Higher Inflation Target |
| GOLD PRICES popped $5 higher Tuesday lunchtime in London, rallying from new 1-month lows beneath $1243 per ounce hit after what pundits and analysts took to be "hawkish" comments on interest rates from a senior US Federal Reserve official.
Having raised rates to a ceiling of 1.25% last week, "This is actually a pretty good place to be," said New York Fed chief William Dudley late Monday.
"We areTuesday, June 20, 2017 |
|
 | Chris Martenson |
| The Pin To Pop This Mother Of All Bubbles? |
| Global macro economic data has been weak for many years, but there’s now a very real chance of a world-wide recession happening in 2017.
Why? A dramatic and worsening shortfall in new credit creation.
The world’s major central banks have, again, done the world an enormous disservice. Instead of admitting that maybe/perhaps/possibly the practice of issuing debt at more than twice the rate of underlying economic growth was a very bad idea over the past several decades, they instead doubled down Tuesday, June 20, 2017 |
|
| USA GOLD - USA Gold |
| The Daily Market Report: Gold Defensive on Firmer Dollar and Stocks |
| USAGOLD/Peter Grant/06-19-17
Gold is edging lower, weighed by a firmer dollar and revived risk appetite, which has driven stocks higher. However, a number of factors continue to offer fundamental underpinnings to the market.
While NY Fed President Dudley reiterated today the optimism expressed in last week’s FOMC statement, one has to wonder if the central bank can really continue tightening with the anticipated fiscal stimulus stalled in Congress.
Senate republicans are acknowledging they are nMonday, June 19, 2017 |
|
| Andy Hoffman - Miles Franklin |
| The Most PiMBEEB Transaction Of All-Time |
| Monday mornings can be daunting, in processing the massive amount of PiMBEEB – or Precious Metal bullish, everything-else-bearish – news since my last publication, 72 hours earlier. This, amidst a world where government-commandeered “markets” signal nothing but the madness they have created, and the carnage that must surely ensue – as if generational economic weakness; the highest-ever debt load; the largest-ever industrial oversupply; the lowest-ever cumulative purchasing power; and the highesMonday, June 19, 2017 |
|
| Julian D. W. Phillips - Gold Forecaster |
| Gold and Silver Market Morning: June 19 2017 - Gold stabilizing around $1,250! |
| Gold Today–New York closed at $1,256.50 Friday after closing at$1,254.60 Thursday.London opened at $1,250.20 today.Overall the dollar was slightly weaker against global currencies, early today. Before London’s opening: -The $: € was slightly weaker at $1.1188 after Friday’s$1.1174: €1.-The Dollar index was slightly weaker at 97.24 after Friday’s 97.34.-The Yen was stronger at 111.18 after Friday’s 111.31:$1. -The Yuan was almost unchanged at 6.8154after yesterday’s 6.8152: $1. -The Pound SterlinMonday, June 19, 2017 |
|
 | Frank Shostak |
 Fractional-Reserve Banking and Money Creation |
| According to traditional economics textbooks, the current monetary system amplifies initial monetary injections of money. The popular story goes as follows: if the central bank injects $1 billion into the economy, and banks have to hold 10% in reserve against their deposits, this will allow the first bank to lend 90% of this $1 billion. The $900 million in turn will end up with the second bank, which will lend 90% of the $900 million. The $810 million will end up with a third bank, which in turnMonday, June 19, 2017 |
|
 | Charleston Voice |
Global Times - Hard lessons from China's silver standard  |
| History will repeat, but this time around America will not be able to coin silver Trade Dollars to conduct trade with Asia. Oops. Oh, where O where did my empire go?
Source: Caijing.com.cn
[08:30 July 15 2009]
Chinese macroeconomic historian Ray Huang used to say the Qing Dynasty never understood monetary and fiscal policy, and therefore was unable to compete against the West. In those days, monetary policy in China was essentially tied to silver, the national money standard since tSunday, June 18, 2017 |
|
 | Przemyslaw Radomski CFA - SunshineProfits |
| Fed’s Normalization Plan and Gold |
| On Wednesday, the Fed issued addendum to the Policy Normalization Principles and Plans. What does it mean for the gold market?
The FOMC not only hiked interest rates at its last meeting, but also laid out a plan to unwind its $4.5 trillion balance sheet. In the May edition of the Market Overview, we wrote that the normalization process “will be passive, gradual and well communicated to the market. And the size of the balance sheet will not return to the pre-crisis level.” Indeed, the Committee “Saturday, June 17, 2017 |
|
| Mish - Global Economic Analysis |
| Are Banks Hoarding Cash? Debate Over “Free Money” Interest on Excess Reserves |
| In response to Free Money! Banks Paid $22 Billion to Not Lend? I received a comment from economist Professor George Selgin who said I do not know what I am talking about.
Selgin made similar comments about Chris Whalen, Chairman of Whalen Global Advisors LLC, in two supporting links.
I also received a Tweet from economist Professor Steve Keen who said: “Mish Nails It“.
Both viewpoints cannot be right. Let’s explore competing viewpoints on lending excess reserves, banks hoarding cash, and free mFriday, June 16, 2017 |
|
| Sprott Money |
| Gold The CIA Go Back A Long Time - Nico Simons |
| Question
Is the CIA
involved with the world gold market?
About
the CIA (1)
The Central
Intelligence Agency (CIA) was established by the National Security Act of 1947
as an independent agency under the direction of the National Security Council.
Its principal mission was to “correlate and evaluate intelligence (from around
the world) relating to the national security, and provide for the appropriate
dissemination of such intelligence within the Government.”
One of the
main objectives in crFriday, June 16, 2017 |
|
| Sprott Money |
| Falling Rocks in the Promised Land - Gary Christenson |
| Yes, traumatic market events (falling rocks) occur, even though
markets are “managed,” statistics are manipulated, and politicians
pretend to care about something besides their next election.
From John P. Hussman, Ph.D. Fair Value and Bubbles: 2017 Edition
“Unfortunately, investors
seem to have concluded that central bank easing is omnipotent, despite
the fact that the Fed eased persistently and aggressively, to no effect,
through the entire course of 2000-2002 and 2007-2009 market collapseFriday, June 16, 2017 |
|
| USA GOLD - USA Gold |
| LARRY SUMMERS: ‘The Fed is not credible with the markets’ |
| BusinessInsider/Pedro Nicolaci da Costa/06-15-17
Larry Summers isn’t mincing words when it comes to Federal Reserve policy: he thinks it’s way off.
In a stinging new post in the Washington Post’s Wonkblog, the former Treasury Secretary and Harvard economist says the central bank has lost crediblity with financial markets because of its consistently misguided optimism about growth prospects and the Fed’s ability to raise interest rates.
“The Fed is not credible with the markets at this point,” Friday, June 16, 2017 |
|
| USA GOLD - USA Gold |
| ECB shifts some reserves to yuan from U.S. dollars |
| Reuters/Balazs Koranyi/06-13-17
The European Central Bank has switched 500 million euros worth of its U.S. dollar reserves to yuan, reflecting the increased use of the Chinese currency and Beijing’s importance as one of the euro area’s largest trading partners, it said on Tuesday.
“The ECB sold a small portion of its US dollar holdings, which remain the largest portfolio, leaving the overall size of the ECB’s foreign reserves unchanged. “The ECB’s foreign reserves now comprise US dollars, JapaneFriday, June 16, 2017 |
|
|
