NEWS
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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Ron Paul: "Who Will Get Blamed for the Collapse?"
Ron Paul, ever the voice of reason and sanity when it comes to fiscal policy, envisages the coming collapse and who will be held to blame. Also, Donald Trump's biggest fiscal mistake thus far.
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SRSrocco: "Gold & Silver Prices Rise As The Markets & Oil Decline"
"Over the past week, as the markets fell, the gold and silver prices did quite the opposite. If we look at the next three charts, the Dow Jones fell by more than 1,600 points since Dec 3rd, while gold increased $26 and silver gained $0.45."
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The Many and Multiple Possible Catalysts for Gold Going Forward
"Higher lows since August, and what looks like the coming test of the 200-day at 1257, which has rejected the gold price over the last year almost as many times I was in high school asking girls out on dates. Could be gold is sniffing out an escalation of the U.S.-China conflict or it could be something altogether different."
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The Fed, in Service of the Unattainable: "The Myth of the Neutral Interest Rate"
"In the absence of central bank monetary policies, which enrich some individuals at the expense of other individuals, interest rates that emerge will be truly neutral. In a free market, no one then would be required to establish whether the interest rate is above or below some kind imaginary equilibrium."
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Nomi Prins: Jerome Powell Can't Win
"The Fed can tolerate weakness in the stock market, but it fears a complete collapse, which is a very real possibility. So Jerome Powell is between a rock and a hard place. Keep the bubble going, which only prolongs the day of reckoning and makes it worse, or withdraw support and risk a crash."
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On the Heels of Largest Drop in Three Months, USD Struggles to Find a Bid
"The dollar consolidated losses on Monday after posting its biggest weekly drop in more than three months last week as weak U.S. data undercut expectations of more interest rate increases in the world’s biggest economy."
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South African Gold Mining, Which Has Produced Half the Gold on Earth, Begins Winding Down
"The nation’s 130-year-old gold industry is locked in the final stages of a decades-long death spiral. Most of South Africa’s gold mines are unprofitable at current prices."
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Chinese Merchants Begin to Refuse Payments in Cash, Demanding e-Payment
"Electronic payments via Alibaba Group’s Alipay or Tencent Holdings’s WeChat have become increasingly popular in China where they are accepted on platforms such as public transport and at retailers like coffee shops."
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"Economic Catastrophe": What the Yellow Vest Riots in France Portend
"The question is how much, in the way of concessions, is Macron going to have to give to calm the protests down,' Constantine Fraser, European political analyst at TS Lombard, told CNBC Monday."
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"The Bear Market Is Here, and Stocks Will Plunge at Least 20 Percent"
"Earnings growth is becoming a front-burner issue. Everybody expected it to slow down next year because we don't have the benefit of tax cuts. But the slowdown is probably going to be more than expected,"
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Morgan Stanley: Earnings Recession in 2019, Growth Stocks to be "Punished Severely"
"The rolling bear market continues to make progress and there is growing evidence that it is morphing into a proper cyclical bear market."
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Standard Chartered Joins HSBC as Accused Money Launderer for Huawei
"Huawei allegedly used a third-party intermediary — a small Hong Kong-based technology firm called Skycom — to channel payments between the company and Iran."
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After All This: What if Brexit...Isn't?
"The European Court of Justice said Monday that the U.K. can cancel Brexit without asking for permission from other European Union (EU) member states."
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Gold Traders' Report - December 7, 2018
Gold took out resistance at $1,248-49 (double top 7/12 and 7/13 highs) but was halted by options resistance at $1,250 (5-month high). The yellow metal was $1,248 bid at 4PM with a gain of $11.
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How Poorly Worded English May Have Just Freed Almost All Banks From Volcker Rule Regulation
In the irony of all ironies, a poorly worded bill intended to more narrowly define exactly which banks are subject to the Volcker Rule may have freed nearly all of them from it.
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UMich Survey Home-Buying Conditions Number Hits 10-Year Low, Worst Since 2008
Data regarding the US housing market gets uglier by the day, as the previously white-hot markets begin falling apart in earnest and markets nationwide are besieged by higher inventory and scant few buyers who are suddenly in no rush at all.
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GE Cuts Previously Legendary Dividend, Once a Retirement Income Lifeline, to a Penny
Owning GE stock and living off the dividend payments as your primary income source used to be a de facto retirement plan for many Americans. As the conglomerate behemoth fights for its life, those dividends are all but gone.
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Different Day, Different Fed Story: Fed Governor Brainard for Continued Gradual Rate Raises
“The gradual path of increases in the federal funds rate has served us well by giving us time to assess the effects of policy as we have proceeded,’ Lael Brainard said Friday at a conference at the Peterson Institute for International Economics in Washington."
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Gold Moves to 5-Month High on Disappointing Jobs Data, Weaker Dollar
"With increased volatility and geopolitical risk, macro asset allocation is becoming more gold-positive again while we believe much of the dollar's upward move is now behind us with rate hike expectations dropping."
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People's Bank of China Advisor Says China Should Start Planning for Bailout Now
"Property bubbles, local government contingent debt, the heavy reliance on land sales for financing or the shadow banking sector could set off a major crisis in China, according to Ma’s article published on the Wechat account of PBOC-affiliated magazine China Finance."
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