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Rather than endure another government shutdown, in the early hours of February 9, GOP and Dem Swamp Creatures joined hands and laid on the American people a budget-busting two-year agreement that will add $400 billion to the national debt. The deficit is now locked in at $1.2 trillion or 6% of GDP for fiscal year 2019. The
I noted the correlation between gold ETFs buying or selling gold and the price of gold In my January 10, 2018 post ETFs, central banks buy gold in 2017; sign of higher prices?. The correlation is eerie. Now, Adam Hamilton, a longtime prolific contributor to Gold-Eagle.com, has written a valuable article, Radical Gold Underinvestment, about
John Scurci, Corona Capital Partner and Chief Investment Officer, is bullish on gold for 2018. One of his reasons is the ratio of the price of gold to stocks. He asserts that stocks are punching out new highs because of the money-printing orgy that the world’s central banks have gone on since 2008. Not coincidentally,
The dollar sank 11.7% over the last twelve months, and gold climbed 10%. The dollar is measured against a basket of non-redeemable paper currencies, the euro (57.6%), the yen (13.6%), pound sterling (11.9%), Canadian dollar (9.1%), Swedish krona (4.2%) and the Swiss franc (3.6%). Only a few decades ago currencies were measured against gold. For
In the irony of ironies, the central bank of Switzerland recently bailed out the manufacturer of the polymer material used in the new Swiss 10-franc notes. Swiss National Bank purchased a 90% stake in Landqart AG after the company got into financial difficulties. The SNB is known for its huge investments in equities, with Apple,
All the talk in political and monetary circles is about the GOP efforts at tax reform. At this time, it is not possible to know the final form the bill will take. The Senate has its version, the House has its version. Compromises will have to be made, and there will be some serious horse
Recently a client wrote: “In 2004, I started buying gold and silver because of increasing US debt, thinking that inflation would come about and the dollar would suffer. Now David Stockman (former Budget Director under Ronald Reagan) forecasts imminent doom for the stock and the bond markets. And, I agree that it will most likely
Marc Faber, famed investment advisor, fund manager and publisher of The Gloom, Boom & Doom Report, noted in his October 2017 issue that the Fed’s announcement about implementing quantitative tightening has depressed precious metals and mining stocks. He then added, “I shall use the current weakness to increase my position in physical precious metals.”
Several renown investment advisors are calling a bubble in stocks. Yet few Americans seem to care what people with hugely successful track records are saying. Stocks are going up, why not get on board?
David Stockman, via his Contra Corner, for months has warned that by late September there would be a debt ceiling crisis and that the Treasury would run out of money, causing segments of government to shut down. He further proclaimed that a political storm in Congress would ensue and that the stock market would be
