Real Corporate Profit Margins "Revised" To Financial Crisis Lows

By Tyler Durden 07/27/2019 Following up on our previous article discussing the unexpected collapse of US corporate operating profits in yesterday's post-revision GDP data, JPMorgan makes an interesting observation. First the good news. As we noted on Friday morning, US GDP grew more rapidly than expected last quarter as a strong 3.5% rise in [...] Read more

Credit Bubble Bulletin: Fanning the Flames

By Doug Noland 07/27/2019 The Federal Reserve abandoned “data dependent” - at least for next week’s FOMC meeting. December futures imply a 1.78% Fed funds rate, up six bps for the week but still 62 bps below today’s 2.40% effective rate. Unless the Federal Reserve has completely caved to the markets, the Committee statement and Chairman Powell’s [...] Read more

Overdosing On Crazy Pills; If you think everything's OK, you're nuts

Overdosing On Crazy Pills; If you think everything's OK, you're nuts

By Chris Martenson 07/26/2019 Sometimes an otherwise-forgettable movie will be lifted up out of obscurity by the internet and made into a useful meme. In the movie Zoolander Will Ferrell’s character, ‘Jacobim Mugatu,’ screams the line “I feel like I’m taking crazy pills!” because it seems nobody else sees what he does. I have that feeling nearly [...] Read more

Europe’s central banks ditch 20-year-old gold sales agreement

Europe’s central banks ditch 20-year-old gold sales agreement

Gold vault. Image from archives. Вy Francesco Canepa; Editing by Jan Harvey, Reuters 07/26/2019 European central banks have ditched a 20-year-old agreement to coordinate their gold sales, saying they have no plan to sell large amounts of the metal, the European Central Bank said on Friday. The Central Bank Gold Agreement was originally signed in [...] Read more

The Reasoning Behind Gold’s Breakout

By Alasdair Macleod, Goldmoney Insights 0725/2019 Gold’s dramatic move above $1400 has caught the investment establishment by surprise. Physical gold ETFs, as a proxy for direct portfolio investment, amount to only 0.05% of the estimated $250 trillion of global investment values. As well as being badly wrongfooted, investment managers have little [...] Read more

China is no longer the main exporter in the world

By BFP https://t.me/bfpchannel 07/19/2019 The other day, the International Monetary Fund (IMF) reported that China's current account (balance of trade and foreign investment income; CA) was almost zero, amounting to only 0.4% of GDP in 2018. This is indeed a significant event for the world economy. For many years, China has had a huge trade [...] Read more

Gold and Inflation Expectations

By Steven Saville 07/08/2019 [This post is an excerpt from a recent TSI commentary] Gold tends to perform well relative to commodities in general when inflation expectations are FALLING. The evidence is presented below in chart form. The first of the following charts shows the Expected CPI, which in this case is determined by subtracting the yield [...] Read more

Will Powell cut interest rates, triggering gold rally?

By Arkadiusz Sieron, Sunshine Profits 07/24/2019 Yesterday we wrote about Draghi, so today Powell is our hero. Only one week separates us from the pivotal FOMC meeting. What should gold investors expect? First Fed cut since 2008 In a week, the Fed may deliver its first interest rate cut since 2008. Given the market odds, the move is practically a [...] Read more

Caterpillar pours cold water on manufacturing, energy sector hopes

Caterpillar pours cold water on manufacturing, energy sector hopes

Image courtesy of Caterpillar. By Cecilia Jamasmie 07/24/2019 Caterpillar (NYSE: CAT), the world’s no.1 heavy machinery maker, posted on Wednesday disappointing earnings driven mainly by its construction division, the major contributor to earnings, in yet another sign of an ongoing slowdown in manufacturing and volatility in the energy sector. The [...] Read more

Will the Multi-Polar World be Backed by Gold?

Will the Multi-Polar World be Backed by Gold?

By Tom Luongo 07/15/2019 It’s not news that China and Russia have been buying gold by the hundreds of tonnes. It’s not news that Russia divested itself of most of its U.S. Treasury holdings last year in response to Donald Trump’s sanctions on Rusal, upsetting the global Aluminum market. Russia has led the charge on central bank gold buying, having [...] Read more

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