From Gold Trains to Gold Loans – Banca d’Italia’s Mammoth Gold Reserves

From Gold Trains to Gold Loans – Banca d’Italia’s Mammoth Gold Reserves

By Ronan Manly 09/23/2016 Italy’s gold has had an eventful history. Robbed by the Nazis and taken to Berlin. Loaded on to gold trains and sent to Switzerland. Flown from London to Milan and Rome. Used as super-sized collateral for gold backed loans from West Germany while sitting quietly in a vault in New York. Leveraged as a springboard to [...] Read more

This Cycle’s Most Dangerous Bubble, In Three Charts

BY JOHN RUBINO 05/30/2019 One of the lessons of the past few decades’ boom/bust cycles is that each financial bubble emerges in a different asset class. In the 1970s it was precious metals, in the 1980s junk bonds, in the 1990s tech stocks and in the 2000s mortgage-backed bonds. Today the only one of these with a reasonable chance of blowing up [...] Read more

Gold — China premiums rise as trade woes boost buying; India demand tapers

Gold — China premiums rise as trade woes boost buying; India demand tapers

Buddhas Sha Tin Hong Kong - Image courtesy of Bernard Spragg via Flickr By Rajendra Jadhav in Mumbai and Nallur Sethuraman in Bengaluru; Editing by Subhranshu Sahu, Reuters 05/31/2019 Gold premiums in top consumer China rose this week as investors bought the metal as a safe-haven due to rising trade tensions with the United States, while bullion [...] Read more

CHART: Worst May for US stocks in 9 years lights fire under gold price

CHART: Worst May for US stocks in 9 years lights fire under gold price

Image of open outcry commodities trading at the Chicago Board of Trade in 1988 by Greg Wass By Frik Els 05/31/2019 Gold jumped out of the gate on Friday, rising more than 1% in heavy volumes as investors seek a safe haven amid a widening trade war unleashed by US President Donald Trump. Gold for delivery in August, the most active futures [...] Read more

Slowing Economy, Plunging Stocks Are Forcing The Fed’s Hand

BY JOHN RUBINO 05/31/2019 A few short weeks ago, the economy seemed to be growing, the trade war looked winnable and the Mueller Report appeared to take presidential impeachment off the table. And then… The economy hit a rough patch. Auto sales are down and home sales are way down. This morning: Pending home sales fall, marking the 16th-straight [...] Read more

China Uses War Words; Tells USA "Don't Say We Didn't Warn You"

China Uses War Words; Tells USA "Don't Say We Didn't Warn You"

By Hal Turner 05/302019 The biggest Chinese newspaper explicitly warned the U.S. on Wednesday that China would cut off rare earth minerals as a countermeasure in the escalated trade battle, using a history-laden expression the publication has used ahead of full-on wars. “We advise the U.S. side not to underestimate the Chinese side’s ability to [...] Read more

Mapped: Who owns the world’s gold reserves

By Cecilia Jamasmie 05/30/2019 Central banks around the globe have been on a gold buying spree this year, with Russia and China leading the pack. In the first three months of 2019, gold purchases by the country’s top banks hit the highest level in six years, as nations diversify their assets away from the US dollar. Global gold reserves, in fact, [...] Read more

Pimco Sees 'Age of Disruption' in New Secular Outlook

Executive Summary Our baseline outlook is for lackluster global growth, low inflation, and New Neutral interest rates over the next three to five years. A shallow recession followed by a sluggish recovery remains likely. Risks to the outlook are significant, however, as China, evolving populist movements, aging societies, technological change, [...] Read more

Russian Central Bank Eyes Gold-Backed Crypto

Russian Central Bank Eyes Gold-Backed Crypto

By Alex Kimani 05/26/2019 First there was Tether; a controversial dollar-backed cryptocurrency by crypto exchange firm, Bitfinex. Then came Petro, the industry’s first oil-backed crypto issued by the Venezuelan government last year. And now we might be about to see the first gold-backed cryptocurrency—by a central bank, no less. According to [...] Read more

Stumbling Towards Chaos: All This Happened In Just One Week

BY JOHN RUBINO 05/28/2019 Every week is eventful these days. But the most recent one stands out for sheer edge-of-the-abyss when-it-rains-it pours diversity. Some of the highlights: US stocks fell for the 5th straight week “logging the longest weekly losing streak since June 2011.” The US yield curve inverted decisively as long-term Treasury [...] Read more

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