NEWS
Today’s gold and silver market news, curated from the best of GoldSilver's team and around the web. Everything precious metals investors need to know including updates on big price swings, macro analysis, and breaking stories. Check back often or subscribe to get the highlights in your inbox. Monitor live spot prices on our charts page.
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"Control Of Money Supply Has Permanently Left The Hands Of Central Bankers
"The supply of money will now be set, for the foreseeable future, by democratically elected politicians seeking re-election."
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Another Round of Stimulus Checks? Extended Unemployment?
It can hard to budget when you don't know what money will be coming in or going out. Here's an update on where your bill obligations and federal relief measures stand amid the pandemic.
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U.S. Budget Deficit Shattered One Month Record in June, as Spending Outpaced Revenue by $864 Billion
Huge spending increase and sharp falloff in revenue led to the large gap. The deficit in past nine months has breached $2.7 trillion.
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If It’s Goodbye to Chinese Goods, Then It’s Hello to Runaway Inflation
‘We have ourselves to blame for wrecking domestic manufacturing and becoming consumption addicts.’
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The "Too Big To Fail" Banks Are Getting Ready For Their Worst Quarter Since The Financial Crisis
... loan loss provisions, combined with slower economic activity, could weigh heavily on their bottom lines...
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Bank of England Debating Digital Currency Creation
The Bank of England is reviewing whether it should create a central bank-backed digital currency, according to governor Andrew Bailey.
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American Investors Are Plugging the U.S.’s Record Budget Deficit
The U.S. Treasury has more than just the Federal Reserve in its corner as it battles to contain the cost of financing the nation’s record budget deficit.American money-market funds -- a harbor for the assets of retirees and companies -- have bought the brunt of the roughly $2.2 trillion...
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Homebuilders Just Saw the Strongest June Sales as Pandemic Pushes More Buyers to the Suburbs
A sharp decline in the supply of existing homes for sale, increasing consumer preference for brand-new, high-tech homes with all the amenities for working and schooling, as well as an accelerating flight to the suburbs and exurbs, made for remarkable housing demand in June.
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Emergency Grant Program for Small Businesses Is Out of Money
A program offering up to $10,000 in grants to struggling small businesses ended Saturday after reaching its funding limit.
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The "Biblical" Default Wave Arrives: Here Is The Avalanche Of Bankruptcies Unleashed By Coronavirus
And it's only just starting...
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Precious Metals Were the Winners in H1 2020... And It Wasn't Even Close
A "perfect storm" of surging government debt levels, plunging real bond yields, rising coronavirus cases and deteriorating economic forecasts pushed the price of gold to an eight-year high this week, and some analysts now project the metal to top its all-time high within the next 12 months.
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US Heads for Fiscal Cliff as Stimulus Fades
Even senior Fed officers — who’re usually reluctant to weigh in on selections for Congress and the White House — have expressed considerations about waning fiscal stimulus.
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The World Is Drowning In Debt
According to the IMF, global fiscal support in response to the crisis will be more than 9 trillion US dollars, approximately 12% of world GDP.
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The Fed’s Inescapable Trap: Frank Giustra
Trust is a fickle thing. It’s there until it isn’t. This is especially true with paper currencies. Their value is based on trust that the sovereign issuer will act faithfully and responsibly.
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Federal Reserve’s $3 Trillion Virus Rescue Inflates Market Bubbles
The Federal Reserve's $3 trillion bid to stave off an economic crisis in the wake of the coronavirus outbreak is fuelling excesses across U.S. capital markets.
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Creative Destruction: A Risky Idea Nobody Wants to Try
The U.S. is usually better than Europe at reshaping its economy after recessions, partly because it’s easier for American entrepreneurs to streamline their business by firing workers, or even start a new one by going bankrupt.
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Majority of Americans Think Congress Should Extend Enhanced Unemployment Benefits Past July
An exclusive survey by Yahoo Finance and the Harris Poll finds the majority of Americans want enhanced unemployment benefits to continue past July. The poll found most Americans think the boosted benefits help the economy -- but also discourage work.
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Personal Bankruptcies Plunge During Pandemic, but ‘A Flood’ Could Be on the Horizon
Even as the coronavirus pandemic battered the economy, a surprising trend emerged: The number of people filing for personal bankruptcy plunged.
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China Renews Push for Increased Global Role for the Yuan
(Bloomberg) -- Faced with the prospect of restricted access to U.S. dollars, China’s answer is to get more people to use its own currency instead.The increasing spillover of Sino-American tensions into the financial sphere has ignited a fresh push by China to promote the global use of the yuan. A growing
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After Latest Data, a Requiem for Fed Repos: WSJ
The first wave of the Federal Reserve’s campaign to aid financial markets during the coronavirus pandemic appears to have run its course, with the Fed reporting its repurchase agreements with major financial institutions had fallen to zero for the first time since early September.
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