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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Mish Shedlock: The Fed Is Slow-Hiking Us Into a Recession
"Bear in mind, I am not suggesting it is wrong for the Fed to hike. Rather, I suggest there should not be a Fed at all and interest rates should be left to the free market."
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What if a Bear Market in Stocks Is Enough to Cause an Economic Slowdown on Its Own?
"A bear market in the S&P 500 — a decline of 20 percent or more from recent highs — would be a catalyst for an economic slowdown, according to Peter Boockvar, chief investment officer at Bleakley Advisory Group."
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CFO of Chinese Tech Giant Huawei Technologies Arrested in Canada at US Request
The arrest of Meng Wanzhou, daughter of the Huawei founder and prominent member of Chinese society (and the ruling party), for helping the company to violate US sanctions against Iran, likely slammed the brakes on any would-be trade progress between the two countries.
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Don’t Worry About the Gold Price — China’s Got Your Back
If you see the future as China sees it, you need to have a meaningful exposure to physical gold. Anything that represents a small portion of your net worth will not provide the kind of asset and lifestyle protection you'll need. It's about the role it will serve in your finances, investments, and everyday way of life during a major currency upheaval.
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Ray Dalio: The US Effectively Defaulted in the 1970s When It Went Off the Gold Standard
"Comparing the current debt super-cycle to the previous one, which ended with the outbreak of World War II in 1939, 2007-09 were similar in nature to 1929-32, and the phase we are going through now is similar to 1935-39, where a sharply rising gap between poor and rich led to a monumental rise in populism."
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Maduro Unilaterally Increases Price of Venezuelan "Cryptocurrency" el Petro, Which May Not Exist
"There’s still no public code for the platform, meaning confirmation of its existence is practically impossible. Additionally, there are no charts reflecting confirmations, hashrate or network activity, making it difficult to verify the health of the platform."
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Wells Fargo "Sorry" for Foreclosing on Hundreds of Homeowners Erroneously
"It's just like, 'Are you serious? Are you kidding me?' Like they destroyed my kids' life and my life, and now you want me to – 'We're sorry?"
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"The End of Austerity in Europe": What Happens When Demands for Fiscal Cutbacks Result in Violence?
"There was a time when European governments couldn't utter a fiscal policy statement without mentioning the word 'austerity.' Now, the policy seems to be out of favor. the concept seems to have all but disappeared from public discourse."
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A Matter of "Self-Preservation": Debt Cancellation in the Bronze Age
"There has been an explosion of discussion about whether to cancel student debts. Critics of the idea point out that wealthy people would be the main gainers, posing moral hazard. The debate has quickly slipped into a discussion of modern economies and whether it was moral to cancel the debts of people who are in arrears."
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"It Just Pays Fines All the Time": Can Deutsche Bank Survive?
“The bank could face a world in which it gets penalized out of existence,' said David Zaring, Wharton professor of legal studies and business ethics. He noted that Deutsche Bank has a history of scandals involving regulatory transgressions. 'It just pays fines all the time.”
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After Massive Stimulus That Has Failed to Stimulate, EU Has No Easy Answers
"The ECB will have a difficult task over the next couple of years: dialing back its unprecedented stimulus without hurting a banking sector still deeply divided along national lines."
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Mongolia's Central Bank, Through November, Buys 18.9 Tons of Gold in 2018
"As of November, the bank's average gold purchase price was 100,995.34 Mongolian tugriks (about 38 U.S. dollars) per gram. The bank, which bought 20.01 tons of gold last year, has set a goal to buy 22 tons of gold by the end of this year."
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As Japan's Consumption Tax Rises, so Does the Incentive to Smuggle Gold
"Since consumption tax was raised to 8%, gold smuggling into Japan has been increasing. Will the October 2019 hike to 10% bring even more smuggling?"
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Silicon Valley/San Francisco Housing Markets Inventory Increases 102% in a Year
"When inventories are piling up because sales are slowing, sellers have to figure out where the market is, and the market is where the buyers are, but buyers have become listless and refuse to participate in bidding wars. In November, the number of properties on the market with price cuts skyrocketed by over 400% year over year."
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Second Regulator Warns on the Systemic Danger of Leveraged Loans
"The Office of the Comptroller of the Currency cautioned in its Semiannual Risk Perspective released Monday that it’s looking at “transactions with increasing leverage, weaker capital structures, and looser credit agreements.”
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The Same Rate Inversion That Just Happened Preceded the Last Three Recessions
"Bespoke studied what happens when short-term interest rates rise above longer-term rates and found that when the 3-year and 5-year spread inverts, as it did Monday, other spreads soon follow, and so does a recession."
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NY Fed’s Williams: Economy Is Strong and Further Rate Hikes Are Required
Another day, another conflicting statement about what the Fed should do with rates going forward. As is said about weather in New England: If you don't like the Fed's stance on rates, just wait 5 minutes.
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Gold Traders' Report - December 4, 2018
On a day when US stock markets fell sharply, with the Dow off almost 800 points, the US 10-year yield recovered to 2.928%, while the DX clawed back to 96.98. Gold was $1,238 bid at 4PM with a gain of $7.
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Dollar Falls as Yield Curve Inversion Feeds Recession Fears
"The dollar, which started the week on a weak footing as a thaw in trade tensions between Washington and Beijing sapped demand for the safe-haven greenback, extended its fall as investors fretted about an inversion of the short end of the U.S. yield curve in bond markets."
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The Secret Ingredient in the 10-Minute Universal Cancer Screening Test Is Gold
"Researchers from the University of Queensland have invented a new super-quick test for cancer containing gold...and it's likely to be cheaper than other similar tests."
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