With inflation now running at 7.5% officially, the central bank would have to initiate 15 rate hikes of 50 basis points each in order to get out in front of it. There’s no chance that will happen!
Bob Hoye concurs with several recent GSR guests, joining the applause for the "Freedom Convoy" in Canada, as courageous liberty minded workers band together in an inspirational anti-authoritarian "David vs. Golaith" moment.
We got our first Lehman taste in this collapse on Friday when the 2YR US treasury delivered the biggest rush in bond yields since Lehman Bros and Bear Stearns..
This gold is supplied by bullion banks via the swaps to the BIS. The gold is then deposited in BIS gold sight accounts (unallocated gold accounts) at major central banks such as the Federal Reserve.
Long-term, I am the ultimate optimist about the US economy. We are just that damn good. But in the short term, we are hobbled by a Federal Reserve that has made too many mistakes..
Andrew Maguire shares word from an inside source that Basel III compliance has driven a top-tier bank to unload the last of their unallocated gold contracts.
Both China and Russia play hugely important roles in the global economy. Both face economic sanctions from the United States. And both are eyeing long-term strategies..
Now, as to whether or not the Fed will be able to catch up to the curve in any reasonable time frame, that’s another question altogether. It looks daunting, and I think the Jawbones know it.
