July 12, 2023
* Currencies & metals rally on Tuesday & overnight!
* China seems to be in trouble with their economy…
July 12, 2023
* Currencies & metals rally on Tuesday & overnight!
* China seems to be in trouble with their economy…
July 11, 2023
* Gold rallies on BRICS announcement..
* Petrol Currencies wake up!
The man, whose name and location have not been revealed, can be heard on a short video breathlessly exclaiming “this is the most insane thing ever” while digging the coins out of the dirt.”
Around this time last year, anxiety loomed over the potential deterioration of the labour market and the fear that increasing interest rates could culminate in substantial job losses. But against the odds, the Australian job market has shown tenacity. According to the ABS’s recent reports, May saw the creation of 39,800 jobs, while the unemployed ranks fell by 14,500 – a remarkable performance considering the overarching economic backdrop and the low consumer confidence.”
While the prospect of a gold-backed BRICS currency will provide significant support to gold, some analysts expect that it will take time before the impact is felt in the market.”
July 10, 2023
* The dollar gets whacked on Friday!
* Gold & Silver’s gains are capped once again… UGH!
The demographic accumulated nearly $4 trillion in debt during the fourth quarter of 2022, reflecting a substantial $140 billion rise from the preceding quarter. The surge represents a 27% increase since late 2019, constituting the most significant upswing in debt accumulation since the 2008 financial crisis.”
Milton Friedman and Anna Swartz in their Monetary History of the United States proved conclusively that the Federal Reserve caused the Great Depression of the 1930s by allowing the money supply to contract.”
July 6, 2023
* currencies and metals rally in the overnight markets
* Fed Heads Dissenting, who knew that could happen?
In the case of a short recession, such as in the spring of 2020, there are phases that last less than 3 months, so phase 3 is irrelevant if the recession goes on only 6 months or less. For our model, we chose the NBER’s recession definition, which states that a recession has occurred when there is a significant decline in economic activity that spans the entire economy and lasts longer than a few months. The Federal Reserve also follows this definition.”
July 5, 2023
* lots of short paper trading late last week
* Sweden hike rates…
Consumer prices in Sweden rose by 9.7 percent in May year-on-year, down from 10.5 percent in April, the first time inflation came in under 10 percent in over six months. And to end the year 2022, inflation in Sweden was over 12%! So, they have seen some correction, but they are a far way from 2.%… In the good old days, a rate hike from a Central Bank would bring about a currency rally, but not any longer… I’m just saying…
“So we have these leaders who are saying I am not going to do anything to stop a debt crisis in this country. And we know we have a debt crisis coming. So he’s courting disaster on that front. He’s basically harming our ability to stay as a reserve currency. He is moving us closer to a debt crisis by basically committing not to tackle this.”
Though history rarely repeats itself on Wall Street, it often rhymes. We haven’t seen a meaningful year-over-year decline in M2 money supply since the Great Depression in 1933.”
June 28, 2023
* Currencies and metals get sold overnight…
* The short positions in Silver surge higher….
7) The FBI was spying on Giuliani when he shared the laptop’s contents with the NYPost”
June 27, 2023
* currencies & metals rally on Monday & overnight
* Indian rupee steps up as a Carry Trade alternative…
Throw in travel by planes, buses, cruise ships and trains, and holiday travel will hit an all-time high of 50.7 million Americans during the five-day period from Friday, June 30 to Tuesday, July 4, the motor club predicts.
June 26, 2023
* currencies & metals rally in the overnight markets
* Chuck counts the ways the U.S. economy is in a bind…
And you can’t make this stuff up…. The Securities and Exchange Commission (SEC) fined JPMorgan Chase’s broker-dealer arm $4 million for deleting tens of millions of e-mails from early 2018, with some relating to subpoenas in regulatory investigations.
Or, here’s your snippet: “Last week, Alabama Governor Kay Ivey signed a bill into law that pushes back against CBDC in a small way that could place some roadblocks in the path toward implementing a digital dollar.
Other states have also taken steps to block the use of CBDCs. Florida and Indiana recently enacted laws that ban the use of a central bank digital currency (CBDC) as money in those states.”
June 22, 2023
* currencies rally on Wednesday
* Chuck’s crystal ball is hazy…
Then, after the people have created wealth, they decide what to do with it. Or someone else decides for them. Sullivan is saying that people have failed to use their money the way he thinks they should. From now on, he says, the feds will be the deciders. “
The committee asked the IRS commissioner to provide certain documents so that it could examine “how to best protect Americans’ fundamental freedoms and to assist the Committee in its oversight.” The documents are to be submitted by June 30.”
June 21, 2023
* dollar is bought overnight again, not in U.S. session
* Gold & Silver get taken down again… When will it end?
Both gold and silver were closed at prices not seen since the previous low back on May 25. Gold’s 200-day moving average is a very long way down below its Tuesday close…but silver’s is less than a dollar now. Is that what they’re gunning for? Who knows.”
As the money supply is forced to grow by fiscal dominance, inflation rises, which creates a new means of funding government expenditures via “inflation taxation.” Inflation taxation has two components: expected and unexpected inflation taxation. Both are limited in their ability to fund real government expenditures. The expected component of inflation taxation (per period) is the product of the nominal interest rate and the inflation tax base, which consists of all non-interest bearing government debt. (Typically, this consists of currency and non-interest-bearing bank reserves at the central bank.) Total real government expenditures that can be financed by the expected inflation tax are limited because the tax base of this inflation tax is determined by the demand for money. The inflation tax earned per period is the product of the nominal interest rate (the inflation tax rate) and the amount of real demand for currency and zero-interest reserves. Unexpected inflation taxation occurs when the nominal value of outstanding government debt falls unexpectedly (thereby taxing government debtholders), and this component is also limited by the ability of government to surprise markets by creating unanticipated inflation”