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Gold’s ‘Freight Train’ Rally Continues With Sights Set on Record
BySirhc(Bloomberg) — Investors continue to pile into gold as prices advanced for a fifth day, moving ever closer to the all-time high reached in 2011. A weaker dollar, negative real rates, worries over the economic cost of the pandemic and flaring political tensions have both gold and silver heading for their biggest annual gain in…
Hard assets hit new highs
BySirhcThe slump in the US dollar is beginning to accelerate. The gold price leapt to a new all-time high in early trading on Monday 27 July, with silver and bitcoin also seeing strong price rises. Gold hit a new record price of $1940 per troy ounce in Asian trading, exceeding the previous all-time high of…
A ‘growing club’ of ‘very powerful countries’ is steering away from using the dollar
BySirhcKEY POINTS The U.S. dollar has been the world’s major reserve currency for decades, but that status could come under threat as “very powerful countries” seek to undermine its importance, warned Anne Korin, from the Institute for the Analysis of Global Security. Korin says China, Russia and the European Union are some “major movers” behind…
Ron Paul on Fed Interest Rate Cut
BySirhcCOURTESY OF CAMPAIGN FOR LIBERTY POSTED BY Norm Singleton August 01, 2019 Campaign for Liberty Chairman Ron Paul issued the following statement regarding the Federal Reserve’s announcement that it will be reducing interest rates for the first time in a decade: “The Federal Reserve’s reduction of its benchmark interest rate from 2.25% to 2% is a textbook…
DoubleLine’s Jeffrey Gundlach puts chance of recession at up to 65%
BySirhcCourtesy of Yahoo Finance by Julia La Roche Reporter Prominent bond investor Jeffrey Gundlach, the CEO of $130 billion DoubleLine Capital, sees the increasing likelihood of a recession within the next six to twelve months. A couple of years ago, Gundlach began highlighting key recession indicators on his webcasts, to see if there was potentially…
Something Snaps: Repo Freezes Again As Overnight Fed Operation Oversubscribed, Repo Rate Jumps
BySirhcCourtesy of ZeroHedge by Tyler Durden First it was supposed to be just a mid-month tax payment issue coupled with an accelerated cash rebuild by the US Treasury. Then, it was supposed to be just quarter-end pressure. Then, once the Fed rolled out QE4 while keeping both its overnight and term repo operations, the mid-September repo rate fireworks which…