- The ‘Alchemy’ of Central Banks
Central banks and gold have a long history together. Gold was treated as money well before the creation of central banks, the modern-day stewards of monetary policy.
- 2 days ago, 7 May 21, 7:56pm -
- Consumer Credit Explodes Higher As Americans Rediscover Their Love For Credit Cards
Just yesterday, we showed that only a few quarters after banks effectively shut down, refusing to give out C&I, credit card or auto loans and mortgages to virtually anyone as a result of record Draconian credit standards, credit standards saw a compl…
- 2 days ago, 7 May 21, 7:46pm -
- US Government Debt-to-GDP Ratio Worse Than Greece’s Before 2008 Crisis
As a result, the national debt of $ 28.2 trillion will grow even faster. Worse yet, when unfunded liabilities are included on the balance sheet, as private companies are legally required to do, the debt exceeds $ 120 trillion.
- 2 days ago, 7 May 21, 7:46pm -
- Add David Rosenberg to List of Those Who Believe Inflation is Transitory
There's not many of us in the transitory camp, but add economist David Rosenberg to the list.
- 2 days ago, 7 May 21, 6:43pm -
- Soaring Inflation Will Not Peak Before January 2022: BofA
In other words, if the trillions in debt-funded stimulus injected by Biden do in fact translate into a non-transitory boost to GDP growth, then all bets are off. Said otherwise, it will be extremely ironic if the Biden stimulus plan works... and the…
- 2 days ago, 7 May 21, 6:19pm -
- Transferism, Not Socialism, Is the Drug Americans Are Hooked On: Antony Davies
As of today, almost 70 percent of what the federal government does involves simply taking money from one group of people and giving it to another. Less than one-third of the money Washington spends is spent in the name of actual governance.
- 2 days ago, 7 May 21, 6:18pm -
- Investors Bet on Dollar’s Slow Downward Drift: WSJ
Hedge funds and asset managers are scooping up derivatives that pay off when the dollar declines slowly or stays within a narrow range. In one strategy, known as a strangle, traders sell both bullish and bearish options for short periods.
- 2 days ago, 7 May 21, 5:55pm -
- Arthur Okun, Class Warfare, Redistribution, and Income Growth: AIER
"The low-income worker is a net beneficiary of bigger government for about 10 years. But as time goes on, the worker would be far better off with smaller government and faster growth. Different assumptions will lead to different results, of course. M…
- 2 days ago, 7 May 21, 5:54pm -
- The Fed Embraces Its Inner Zimbabwean
With Brainard, Jerome Powell, and Treasury secretary Janet Yellen focusing on the climate, the M1 money supply has gone parabolic, from just over $4 trillion in February to $18.6 trillion in March. This is right out of Gideon Gono’s playbook. The o…
- 2 days ago, 7 May 21, 5:20pm -
- Hedge Funds Make Biggest Short Bet on Junk Bonds Since 2008
Hedge funds have accumulated the biggest short position on junk bonds since 2008 in another sign that investors are lining up to bet against frothy debt markets.About $55 billion of global high-yield bonds has been sold short, according to data from…
- 2 days ago, 7 May 21, 5:07pm -
- Traders Ramp Up Bets on a Hawkish Fed Surprise at Jackson Hole
A large option bet on quicker rate-hikes by the Federal Reserve got bigger this week, even as officials pushed back against hawkish expectations.The wager -- carrying a notional value of $40 billion -- is focused on a possible surprise at the annual…
- 2 days ago, 7 May 21, 5:05pm -
- LIVE: Treasury Secretary Janet Yellen Hold a Briefing — 5/7/21, 12:30PM ET
Treasury Secretary Janet Yellen and Press Secretary Jen Psaki hold a briefing at the White House on Friday after a big miss on the April jobs report. Hiring was a huge letdown in April, with nonfarm payrolls increasing by a much less than expected 26…
- 2 days ago, 7 May 21, 4:21pm -
- 29% Of Unemployed Americans Have Been Jobless Over a Year
About 29% of unemployed Americans have been out of work at least a year, a period of joblessness stretching to the early days of the Covid pandemic.
- 2 days ago, 7 May 21, 4:20pm -
- US Chamber Of Commerce Urges Biden To End Pandemic Handouts: "Paying People Not To Work" Is Killing The Recovery
Executive Vice President and Chief Policy Officer Neil Bradley released the following as a statement, saying that while there might have been a time when the benefit was needed, that time has now passed. "Paying people not to work is dampening what s…
- 2 days ago, 7 May 21, 4:17pm -
- If Not Now – WHEN??: Miller on the Money
The system allows the Fed to enable the banks to make risky bets. When they win, they make billions; when they lose, the taxpayers are stuck with the losses.
- 2 days ago, 7 May 21, 3:34pm -
- Fed’s QE: Total Assets $7.8 Trillion, More Than Doubled in 18 Months Since Repo Market Blowout
The Fed’s total assets on its balance sheet for the week through Wednesday, May 5, fell by $10 billion from the prior week and by $40 billion from the record two weeks earlier, to $7.77 trillion. Over the 14 months since the crazy money-printing sh…
- 2 days ago, 7 May 21, 3:15pm -
- As Biden Pushes Trillions In Stimulus, Employers Struggle To Lure People Back To Work
According to Bloomberg, economists are suddenly 'baffled' by perhaps the most obvious outcome of a government paying people not to work during the pandemic; there's a giant shortage of people willing to return to the workforce.
- 2 days ago, 7 May 21, 3:09pm -
- Kashkari Has ‘Zero Sympathy’ for Wall Street Critics of Fed
Federal Reserve Bank of Minneapolis President Neel Kashkari said he has “zero sympathy” for critics on Wall Street, who slam the central bank’s aggressive support of the U.S. economy while millions of Americans remain out of work.“For my frie…
- 2 days ago, 7 May 21, 3:08pm -
- Yellen Taps Former Fed Official As Acting Comptroller
Treasury Secretary Janet Yellen on Friday tapped former Federal Reserve official Michael Hsu to be acting chief of the Office of the Comptroller of the Currency (OCC).
- 2 days ago, 7 May 21, 3:03pm -
- Fed's Super-Easy Policy Likely to Stick After Weak Jobs Report
The 266,000 jobs that U.S. firms added in April give Federal Reserve policymakers little reason to do anything but keep the monetary policy tap wide open until it is clear the economy is on a path back to full employment.
- 2 days ago, 7 May 21, 2:59pm -
- Inflation Watch: Why the Fed Is Paying Close Attention to This Chart
Inflation expectations are at multiyear highs and investors should pay attention, says Lakshman Achuthan of the Economic Cycle Research Institute.
- 2 days ago, 7 May 21, 2:55pm -
- High Package Costs Hit Food Makers as Recycled Paper, Corn Soar: Bloomberg
In a year of food supply-chain disruptions hitting from all angles, here are two more things for producers and consumers to worry about: recycled paper and corn, and how they affect packaging.
- 2 days ago, 7 May 21, 2:47pm -
- China's April Foreign Exchange Reserves Rise to $3.2 Trillion
China held 62.64 million fine troy ounces of gold at the end of April, unchanged from a month earlier, the data showed. The value of its gold reserves rose to $110.73 billion at the end of April from $109.18 billion at the end of March.
- 2 days ago, 7 May 21, 2:31pm -
- Fed Comes as Close as It Can to Saying ‘Bubble’: Bloomberg
The central bank’s financial stability report used the phrase “meme stocks” and highlighted voracious risk appetite in IPOs and SPACs.
- 2 days ago, 7 May 21, 2:15pm -
- From Archegos to Crypto, Gensler Signals Cop Is Back on Beat
Wall Street’s new overseer confirmed he won’t back down from tough battles with the financial industry as he laid out an agenda for increased regulation in numerous contentious areas.Gary Gentler, making his first appearance before Congress after…
- 2 days ago, 7 May 21, 2:10pm -
- Shocking Data: April Payrolls Miss Huge, Just 266K Jobs Added Below Expectations Of 1 Million
For once the disappointing ADP report was right. With expectations of today's payroll print soaring, consensus expecting a whopping 1 million number and some forecasters calling as high as 2+ million, few were prepared for a miss. And of course the m…
- 2 days ago, 7 May 21, 2:06pm -
- Commodities remain the hot property of 2021: Ole Hanson, Saxo Bank
Precious metals: Having failed on a handful occasions during the past couple of weeks, gold finally managed to mount an attack strong enough to take it above $1800. While lower U.S. real yields and a softer dollar provided the fundamental tailwind th…
- 2 days ago, 7 May 21, 1:55pm -
- Gold Eyes Best Week in 6 Months on Lower Dollar, Treasury Yields
Spot gold was up 0.3% at $1,819 per ounce after hitting its highest since Feb. 16 earlier in the session.
- 2 days ago, 7 May 21, 12:40pm -
- Gundlach Warns America's "Unfunded Liabilities" Are $163 Trillion, More Than 5x National Debt
DoubleLine's Jeffrey Gundlach called the Fed's bluff late last month, telling investors during an interview that he suspected the central bank was merely "guessing" about the impact of inflation being "transitory".
- 2 days ago, 7 May 21, 12:38pm -
- "Just Throwing Money, It Doesn't Work" - Dimon Slams Planned Dem Tax Hikes As "A Little Bit Crazy"
Now that Democrats are in power, and Elizabeth Warren's "wealth tax" is now firmly on the table, it looks like Dimon - who is, according to Forbes, a billionaire - has changed his tune. Back in September, before the election, Dimon modified his stanc…
- 2 days ago, 7 May 21, 12:37pm -
- Steel Prices Have Tripled. Now Bank of America Is Sounding the Alarm
The pandemic brought the American steel industry to its knees last spring, forcing manufacturers to shut down production as they struggled to survive the imploding economy. But as the recovery got underway, mills were slow to resume production, and t…
- 2 days ago, 7 May 21, 12:31pm -
- Fed Warns of Hidden Leverage Lurking in Financial System: FT
The US Federal Reserve has warned that existing measures of hedge fund leverage “may not be capturing important risks”, pointing to the collapse of Archegos Capital as an example of hidden vulnerabilities in the global financial system.
- 2 days ago, 7 May 21, 12:28pm -
- Fed Warns About Potential For 'Significant Declines' in Asset Prices as Valuations Climb
Rising asset prices in the stock market and elsewhere are posing increasing threats to the financial system, the Fed warned in a report Thursday.
- 2 days ago, 7 May 21, 12:25pm -
- France’s Debt Pile Is Surprisingly High, Experts Not Worried
The second largest euro area economy predicts that its public debt ratio is likely to stand at 117.8% in 2021, and to fall only slightly to 116.3% in 2022.
- 2 days ago, 7 May 21, 12:24pm -
- Treasury Yields Climb Ahead of Key April Jobs Report
The yield on the benchmark 10-year Treasury note advanced to 1.575% at 7 a.m. ET. The yield on the 30-year Treasury bond rose to 2.247%. Yields move inversely to prices.
- 2 days ago, 7 May 21, 12:21pm -
- The Global Chip Shortage Is Starting to Have Major Real-World Consequences
The severity of the global chip shortage has gone up a notch over the last few weeks and it's now looking as though millions of people will be impacted.
- 2 days ago, 7 May 21, 12:20pm -
- Cryptocurrency Investors Should Be Prepared to Lose All Their Money, Bank of England Governor Says
When asked about the rising value of cryptocurrencies, Bank of England Governor Andrew Bailey said: "They have no intrinsic value."
- 2 days ago, 7 May 21, 12:19pm -
- Expect More Italian Bank Mergers in the Coming Months, CEO of Intesa Sanpaolo Says
The ratings and analysis firm said that the large number of Italian banks, the relative size of the market taken by the top banks, and the need for digitalization increase the pressure on smaller lenders to consolidate with others.
- 2 days ago, 7 May 21, 12:16pm -
- Coronavirus Latest
The latest news and updates on the coronavirus outbreak from CNBC’s global teams in Asia, Europe and the U.S.
- 2 days ago, 7 May 21, 12:12pm -
- Is Silver Going to $300?
If we consider that silver was priced at $4.20 in late 2001, a 37x return would take it to about $155. However, I think this bull market could be an order of magnitude larger for a number of reasons, the main ones being debt, credit and money printin…
- 3 days ago, 6 May 21, 8:01pm -
- Gold Races past $1,800/Oz as Bond Yields, Dollar Slide
Gold jumped over 1% on Thursday with a weaker dollar and easing Treasury yields propelling it over the key $1,800 psychological level.
- 3 days ago, 6 May 21, 7:59pm -
- Pandemic Concerns Result in Strong Silver Investment Demand in 2020
Silver-backed Exchange Traded Products (ETPs), increased almost threefold to 331 million ounces (Moz), surpassing 1 billion ounces of silver in 2020. Additionally, global physical silver investment (silver coin and bar purchases), grew 8 percent to 2…
- 3 days ago, 6 May 21, 7:56pm -
- State Laws Can Help Restore Gold and Silver as Money
A growing number of Americans understand that the reckless creation of fiat currency by the Federal Reserve System is causing many of our economic problems. They want to abolish the Fed and return to the gold-backed currency that brought America and…
- 3 days ago, 6 May 21, 7:53pm -
- Crypto Tumbles After SEC Chair Comments
First we saw comments from the Biden administration that it would likely follow former President Trump’s China investment ban policy. Then, SEC Chairman Gary Gensler told the House Financial Services committee that congress should consider regulati…
- 3 days ago, 6 May 21, 7:50pm -
- Johns Hopkins Economist Steve Hanke: True Cost of Biden’s Spending Plans Could Be $17.1 Trillion
The whopping $6 trillion price tag on Biden's proposals from his first 100 days has raised many eyebrows about how a nation more than $28 trillion in debt can afford such a splurge. But one prominent Johns Hopkins economist is warning that the true…
- 3 days ago, 6 May 21, 7:48pm -
- Silver Spiking & Trading Armageddon
Silver is spiking and billionaires are buying gold for the first time. Have we already seen Mike Maloney’s scenario of ‘short term deflation’ play out? Join our team in today’s must-watch video for the answer.
- 3 days ago, 6 May 21, 7:28pm -
- What Investors Need to Do to Combat Inflation
It's been a long time since inflation posed a potential problem for investors, and some strategists have some ideas how to defend a portfolio against it.
- 3 days ago, 6 May 21, 6:27pm -
- The Hockey Stick Rise in M1 is a Monetary Statistical Mirage
There is a risk of "Literal Printing", but QE is not that risk.
- 3 days ago, 6 May 21, 6:20pm -
- Expect Evictions to Soar as a Court Threw Out the CDC's Eviction Moratorium
The CDC, citing public health grounds, had implemented the temporary halt on evictions, extending protections for millions of tenants who have fallen behind on their rent during the pandemic. But a series of conflicting lower court rulings has called…
- 3 days ago, 6 May 21, 6:10pm -
- Warren Pushes Biden to Forgive Student Debt as White House Considers His Legal Authority
Biden is weighing whether to forgive up to $50,000 in federal student debt amid pressure from Elizabeth Warren and Chuck Schumer.
- 3 days ago, 6 May 21, 5:38pm -
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