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Gold and silver market moving news, curated from the best of GoldSilver's team and around the web. Check back often for updates, or subscribe to get the highlights in your inbox.
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TOP NEWS NEW EPISODES - Hidden Secrets of Money 9 & 10 Are Almost Here
Join us Monday, October 29th at 8PM Eastern/5PM Pacific for the premiere of Episode 9 of Hidden Secrets of Money. Then Tuesday, October 30th at 8PM Eastern/5PM Pacific, join us for the premiere of HSOM Episode 10. Mike will be live-answering your questions both nights!
Gold Alert: Central Bank Increases Reserves By 1000%
Join Mike Maloney as he analyzes the recent stunning news from the Hungarian Central Bank - an absolutely massive shift in their gold reserves.
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"Global Systemically Important Bank Stocks" Down 27% in 10 Months
"We are entering a time when the economy was likely to slow down anyway, but if stocks continue to crash and global banking woes escalate, that is going to spread fear and panic like wildfire."
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Gold at 3-Month High as Nerves Run High for Worldwide Equity Investors
"Gold futures rise to a more than three-month high early Tuesday in New York as global equity markets suffer sharp losses, partly sparked by the resurgence of global growth fears as China halted a two-session rally." In early trading, the Dow, Nasdaq and S&P 500 were all off more than 1.3%.
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Former Fed Chair Volcker Sees "A Hell of a Mess in Every Direction"
In every direction, policy and law for sale: “There is no force on earth that can stand up effectively, year after year, against the thousands of individuals and hundreds of millions of dollars in the Washington swamp aimed at influencing the legislative and electoral process.”
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The End of Bank Profits for Nothing as Depositors Abandon No-Interest Accounts
For the better part of a decade, banks could count on depositors to provide them with free capital to invest, and the banks could keep 100% of the profits while supplying no interest in return. After several successive Fed rate hikes, consumers are finally able to demand interest once more.
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No Matter How Brexit Turns Out, London's Housing Market Is Headed Down
While Brexit drama makes for compelling headlines and keeps eyeballs diverted from London's faltering real estate market, there are plenty of other systemic issues that will put continued pressure on one of the world's most overpriced housing sectors.
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The EU Doesn't Get It: Italy, With Its Sure-to-Lose Hand, Holds All the Cards
The more the EU and its representatives ramp up the no-compromise rhetoric against Italy, the more it obscures the most basic truth: Italy is too big to fail, and no matter how distasteful the eurozone finds the reality, it is on the hook for its debt.
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DiMartino Booth: Powell Intent on Maintaining True Fed Independence
"Danielle DiMartino Booth, Quill Intelligence CEO and former Dallas Fed advisor, discusses the Federal Reserve's policy path and what market watchers are expecting for the rest of the year and into 2019."
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6 Charts: Data Suggest "We Have Seen the Peak in Housing Activity for the Cycle"
"Housing, being one of the most cyclically sensitive sectors of the economy, often feels the impact of higher rates well before other areas. This alone implies a peaking of economic activity right about now, leading to persistently slower growth rates through Q1 2020."
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Foundation for Economic Education: 5 Reasons to Worry About Soaring Federal Debt
"Compared to the size of the economy, today’s federal debt is, by far, the highest in our peacetime history. Future living standards are being eroded as huge costs are being pushed forward, and the rising debt will eventually spark a damaging financial and economic crisis."
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Forbes: Social Security Does Not Add to the Federal Deficit, Because Legally, It Can't
"It is correct to say that Congress added to the deficit, not Social Security. The deficit rose substantially because of the 2017 tax cut, which reduced total revenue by 5% and revenue from corporate taxes by 35%."
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Reserve Bank of India $16.3B Net Seller of US Treasuries Since April
"Even as RBI is selling its stock of USTs, India is still among the top 15 investors of US sovereign debt figuring 13th in the list ahead of certain advanced economies such as Canada, Australia and France."
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"Late-Cycle Lunacy": 'UltraFICO' to Provide Additional Credit to Tapped-Out Borrowers
"Just in the nick of time not: Fair Isaac is launching a new type of credit score that will give millions more credit. Just as the economy is peaking, consumers with a low FICO could get a higher 'UltraFICO', a new score that factors in bank-account activity as well as loan payments."
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Emerging Economies Stocking Up on USD Insurance Ahead of Dollar-Dominance Demise
"Hungary, Poland, Russia, China, India, Turkey, Saudi Arabia are all hoarding gold. There are few alternatives to the US Treasury bonds in terms of volumes and market liquidity, but more prudent countries want to boost their reserves. Gold is, in fact, the only alternative. Even for those who do not believe in it."
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The Smart Money Flow Index Predicted 2000 and 2008 Crises; It's Predicting Another One
"We saw a collapse in the Smart Money Flow index in 1999 as the Dot.com bubble exploded. Then we saw a slower decline starting in 2004 in front of the housing bubble burst and financial crisis. Now we have a third collapse."
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"Gold Shorts Suffer Biggest Squeeze Since 1999 As Specs Abandon VIX-Selling Spree"
"Until the last couple of weeks, net speculative positioning in financial markets was all on one side of the boat with speculators are woefully unprepared for a major risk-off event, suggesting complacency had reached epidemic levels as equities broke out to new highs. Then the calendar rolled over to October and everything changed..."
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Euro Banks Facing "Funding Cliff" Eye ECB as Most-Liberal Lender of Last Resort
"The ECB’s cheap four-year loans, known as Targeted Longer-Term Refinancing Operations or TLTROs, were doled out from 2014-2017 and were intended to push banks to lend more to companies and households. The repayment deadlines mean the region’s massive excess liquidity will start contracting, putting upward pressure on market rates -- unless the ECB starts a new round of funding."
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Prepare for a Global Trade Backdrop Where China 'Compels' Saudis to Trade Oil in Yuan
Carl Weinberg, Chief Economist and Managing Director at High Frequency Economics, says we are only about a year away from Chinese oil imports "dwarfing" those of the US, and along with that imbalance will come Chinese demands that the Saudis abandon US-dollar oil trade.
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Charles Hugh Smith: "The Coming Inflation Threat Is the Worst Of Both Worlds"
"Inflation is a funny thing: we feel it virtually every day, but we’re told it doesn’t exist — the official inflation rate is around 2.5% over the past few years. Historically, 2.5% is about as low as inflation gets in a mass-consumption economy like the U.S. that depends on the constant expansion of credit."
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Too Big to Fail: Why the Size of Italy's Bad Debt Is Its EU Trump Card
"At the end of the day, those with the power to set and enforce EU fiscal and monetary rules know full well that the eurozone could not survive a Greek-style crisis in Italy. It is their responsibility in the months ahead to make sure it doesn’t come to that."
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