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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Former Senate Banking Committee Chair Phil Gramm: "The Debt Threat to the Economy"
"Fighting a trade war and maintaining a strong recovery may be mutually exclusive objectives. To ensure the U.S. has sufficient capital resources to sustain the recovery, the president needs to cut his deal with China."
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"Unholy Alliance": When Banks Pay Colleges to Market Directly to Students
“Anyone that looks at this data and the extent to which large banks continue to team up with colleges and universities to gouge the student body with overdraft fees should be outraged,' said Seth Frotman, formerly of the Consumer Financial Protection Bureau."
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Yellen: "There Are Gigantic Holes in the System"
"Former Federal Reserve Chair Janet Yellen told an audience in New York City Monday night that she fears there could be another financial crisis because banking regulators have seen their authority reduced to address panics and because of the current push to deregulate."
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IMF: Governments Have Wasted 2 Great Economic Years, Failed to Fix Structural Problems
The fund had been urging governments to “fix the roof” during a sunny last two years for the world economy, IMF First Deputy Managing Director David Lipton said. “But I see storm clouds building, and fear the work on crisis prevention is incomplete.”
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JPMorgan: 70% Chance of Recession by 2020; 100% Chance by 2022
"JPM calculates recession probabilities based on regression models, which track such indicators as prime-age male participation, consumer and business sentiment to prime-age male labor participation, compensation growth, and durables and structures as a share of GDP."
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Richard Fisher on How Bad Credit in Europe Could "Infect" US
"Fisher says a 'hyper-leveraged government' issuing even more U.S. Treasury bonds next year, the Fed raising rates, and potential dangers from bad credit in the European Union could cause a slowdown."
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"I Have Not Been This Worried Since 2008": BofA Head of Global Rates David Woo
"We’ll have a $1 trillion budget deficit, a big fight over the debt ceiling, gridlock and the U.S. economy will be slowing at the same time. The only thing I’m confident in is volatility will be high next year."
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Fed's Powell Says Wells Fargo's Balance Sheet Will Remain Frozen Until Fraud Fixed
In February, the Fed ordered Wells Fargo to freeze its balance sheet, keeping its assets below $1.95 trillion, until it put new checks on senior managers and gave the board new powers to sniff out abuses.
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Gold Traders' Report - December 10, 2018
Gold briefly broke support at $1243 and dipped to $1241.70, but bargain hunting buying brought it quickly back to $1,244. Gold was $1,244 bid at 4PM with a loss of $4.
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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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2019 Gold Price Forecasts and Predictions from the Big Investment Banks
It’s time for our roundup of the big investment banks and where they predict the gold price will go in 2019. Their forecasts, while as fallible as any others, are worth paying attention to for one reason: These banks control enormous amounts of capital, so keeping an eye on where they stand vis a vis the gold price is worth monitoring.
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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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