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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ING: Prepare for Trump to Directly Interfere With Free Markets, Weaken Dollar
"Can President Trump instruct the US Treasury to intervene in FX markets and weaken the dollar? Twelve months ago, we wouldn't have even considered this question. But under this new mercantilist US regime, who knows?"
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Chances Putin Knows Who Rick Perry Is or Will Listen to Him Are About the Same
Rick Perry makes demands about how Russia conduct its energy pricing policies going forward, because maybe Putin just didn't hear him when he made the exact same demands a few years ago and absolutely nothing changed.
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Pigs Fly, Hell Freezes Over, Bernanke Admits He Made Mistakes
Well, sort of. While market realists were sounding alarm bells as the subprime bubble reached insane proportions (and then made fortunes shorting the garbage loans), Bernanke somehow still believes “Nobody saw how widespread and devastating the crisis itself would be.”
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Billionaire Hedge Fund Manager Tepper: Tax Cuts Damaged Future Economic Growth
A tax cut that an economy can't pay for out of current economic growth ultimately amounts to nothing more than big-government debt spending. And stealing future growth to provide such debt-burden-increasing handouts today will have dire consequences down the road.
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Government Spending Explodes: $433B in August Is Highest Monthly Total Ever
The federal budget deficit has skyrocketed 40% in fiscal year 2018 vs. last year, well on its way to posting a mind-bending $1T annual shortfall.
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EU Head Juncker: Use the Euro, Not the USD, as Global Trade Currency
Finally, a currency proposal the entire world can agree will go nowhere. As the EU descends into insular, country-by-country populism directly contrary to the stated goal of why the EU exists at all (and intra-EU tensions about the viability of a shared currency mount), it's difficult to imagine a wider world with less appetite for euro-based trade.
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Why Everyone Will Just Keep Doing What They're Doing Until the System Breaks
Charles Hugh Smith on the roaring, misplaced confidence of today's stock market investor: "Nobody really knows anything because the signals have been distorted, but everyone thinks they know everything -- sell volatility and buy the dip. It works great until it doesn't."
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Former UK PM: "World Is Sleepwalking Into Next Financial Crisis"
Gordon Brown says the obvious outcome of failing to address any of the root causes of the last financial crisis is a near-guarantee it will repeat. “The penalties for wrong-doing have not been increased sufficiently. The fear that bankers will be imprisoned for bad behavior is not there."
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JPMorgan's Jamie Dimon Briefly Loses His Mind, Says What He Actually Thinks
Where did this sudden bout of candor come from? "Jamie Dimon just said what lots and lots of CEOs think about Donald Trump: I think I could beat Trump... because I'm as tough as he is, I'm smarter than he is. And by the way, this wealthy New Yorker actually earned his money. It wasn't a gift from daddy."
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Mortgage Broke-er: Industry Layoffs as Mortgage Refinancings Hit 18-Year Low
Who in the world would refinance now, with 30-year rates nearing 5%, after they had so long to do so more cheaply? Only the most last-ditch desperate who need to cash out any equity they have to keep thei heads above water, despite locking themselves into the worst rates in six years.
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Fed’s Brainard: We'll Invert the Yield Curve With Rate Hikes, and That's Fine
There has been no better historical predictor of recession than an inverted yield curve. The Fed's Lael Brainard insists that even though an inverted yield curve has always predicted a recession every time it has occurred for the past 60 years, "This time it's different."
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Gold Traders' Report - September 12, 2018
Gold broke through resistance at $1,198-99 and $1,200 to reach $1,204 – where resistance at the triple top (9/3, 9/4, and 9/7 highs) there held.
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End of Growth Among "Haves" Dooms Growth Among "Haves" & "Have Nots"
The global economic system is premised on growth, not just any growth, but growth where it matters (economically). However, population gr...
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Update on Mike's Silver Holdings (Insider Exclusive)
In this all-new Insider's Report, Mike breaks down the extraordinary situation in silver today.
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Blame the Fed Not Investors For Asset Bubble
At no stage in his speech did the New York Fed boss raise the possibility that the main source of asset bubbles could be the US central bank itself.
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Next financial crisis ‘will be more severe’ socially and politically
Dalio: It’ll be a slower growing, more constricting sort of debt crisis that I think will have bigger social implications & bigger international implications.’
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“Monetary Buffers Depleted” Fed: Concerns Over Next Recession Mount
In a recession, the Fed typically slashes interest rates 5 PP. No such buffer exists. A Fed study looks at the impact.
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Jeffrey Gundlach Says Dollar’s Next Move May Be Downward
“We’ll probably end with the dollar lower at year-end than it is right now.”
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America moves closer to being a cashless society
ATMs, which had their 50th birthday last year, are disappearing, signaling the decline of the “cash run.”
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Weekly refinance demand plummets as mortgage rates hit a 5-week high
Mortgage application volume fell 1.8 percent last week, according to the Mortgage Bankers Association.
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