The Economic Singularity, Report 11 Aug

The Economic Singularity, Report 11 Aug

By Keith Weiner 08/12/2019 We have recently written several essays about the fallacious concept of Gross Domestic Product. Among GDP’s several fatal flaws, it goes up when capital is converted to consumer goods, when seed corn is served at the feast. So we proposed—and originally dismissed—the idea of a national balance sheet. It’s easy [...] Read more

NEXT 5 YEARS NOT ABOUT WINNING BUT SURVIVING

By Egon von Greyerz 08/01/2019 The messages from the ECB and the Fed couldn’t be clearer. They are seeing major problems in the financial system and in the world economy and they will do whatever it takes to save the system. But they will fail. The autumn of 2019 will see a major shift in sentiment as markets turn from a secular bull to a secular [...] Read more

History of yield curve inversions and gold

History of yield curve inversions and gold

Photo from Max Pixel, CC0. By Arkadiusz Sieron, Sunshine Profits‘ Gold News Monitor and Gold Market Overview Editor, Sunshine Profits 08/11/2019 We keep our promises. In the previous edition of the Market Overview, we promised our Readers to “dig even deeper into the predictive power of the yield curve”. As a refresher, please take a look at the [...] Read more

Russia Enthralled with US-China Trade Dispute

Russia Enthralled with US-China Trade Dispute

By VT Editors 08/08/2019 Russia benefits from a trade dispute between the United States and China, as its gold holdings are constantly increasing in value. This is written by Wolfram Weimer in an article on the Web portal. de. He points out that overall the global share of gold in central banks increased by 651 tons over the year. Almost half of [...] Read more

Credit Bubble Bulletin: "Hot Money" Watch

By Doug Noland 08/10/2019 In the People’s Bank of China’s (PBOC) Monday daily currency value “fixing,” the yuan/renminbi was set 0.33% weaker (vs. dollar) at 6.9225. Market reaction was immediate and intense. The Chinese currency quickly traded to 7.03 and then ended Monday’s disorderly session at an 11-year low 7.0602 (largest daily decline since [...] Read more

Gold-backed ETFs maintain strong momentum in July

Gold-backed ETFs maintain strong momentum in July

File image. By Jackson Chen 08/08/2019 Building on a strong month of June, global gold-backed ETFs and similar products maintained positive momentum in July. According to the World Gold Council’s latest data, net inflows totaled $2.6 billion across all regions during the month, bumping total gold holdings up by 52 tonnes to 2,600 tonnes — the [...] Read more

We Should let the Banks Burn Down

By Bob Moriarty 08/08/2019 In late 2008 during what is now referred to as the Great Financial Crisis, government and financial managers had an opportunity to reset a badly out of balance dysfunctional banking system. It would have required pain from bank bondholders, shareholders and taxpayers in general. Everyone recognized the banks were burning [...] Read more

Golds Blasts Through $1500: Message? Central Banks Out of Control, Not Inflation

Golds Blasts Through $1500: Message? Central Banks Out of Control, Not Inflation

By Mike "Mish" Shedlock 08/07/2019 Gold blasted through the $1500 level today. Let's analyze the message. Here's a hint: The message isn't inflation. The above chart is and end-of-day chart from yesterday. Gold closed at $1484. At 11:30 AM Central, gold was at $1520, up $36 on the day. Gold vs Copper What's the Message? Stephanie Pomboy at Macro [...] Read more

Gold tops $1,500 as investors seek shelter from gathering storm

Gold tops $1,500 as investors seek shelter from gathering storm

(Image courtesy of Bundesbank.) By Ranjeetha Pakiam, Rupert Rowling and Justina Vasquez, with assistance from Krystal Chia, Bloomberg News 08/07/2019 Gold futures rallied above $1,500 an ounce on sustained demand for the traditional haven as the US-China trade war festers, global growth slows and central banks around the world ease monetary [...] Read more

The Invention of Money

The Invention of Money

When the system buckles, how do we know what money is really worth? Illustration by Mark Long By John Lanchester 07/29/2019 When the Venetian merchant Marco Polo got to China, in the latter part of the thirteenth century, he saw many wonders—gunpowder and coal and eyeglasses and porcelain. One of the things that astonished him most, however, was a [...] Read more

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