News

Belgians Reject African Female 'Santa Claus' Authored by Steve Watson via Modernity.news, A city in Belgium has cancelled a scheduled Christmas event in which a black female ‘Santa Claus’ was set to reeducate attendees about “colonial ideology” and how “generations of Flemish people are racists.” The Telegraph reports that people in Ghent have pressured the mayor to call off the appearance of one Queen Nikkolah, a character created by artist Laura Nsengiyumva, who would have ‘reworked’ Christmas fables about Santa for children at the event. The report […]

These Are The Safest (And Deadliest) Energy Sources Recent conversations about climate change, emissions, and health have put a spotlight on the world’s energy sources. As of 2021, nearly 90% of global CO₂ emissions came from fossil fuels. But energy production doesn’t just lead to carbon emissions, it can also cause accidents and air pollution that has a significant toll on human life. Visual Capitalist's Freny Fernandes introduces this graphic by Ruben Mathisen uses data from Our World in Data to help visualize exactly how safe or deadly these energy sources are. […]

"Has Kyiv Already Lost?" – Germany's Welt Newspaper Claims Ukraine Is "Crumbling" & That Orbán Was Right But "Nobody Dares Admit It" Authored by John Cody via ReMix News, Germany’s Welt newspaper, perhaps the most popular publication in the country, is well known for its pro-Ukraine stance and ran numerous articles in the past about the likely success of Ukraine’s military offensive against Russia. However, in a column published yesterday by the paper’s chief correspondent, Sascha Lehnartz, the assessment of Ukraine’s chances in the war is decidedly bleak. […]

Bloodbaths Change The World - 9/11 Authored by Peter Hanseler via VoiceFromRussia.ch, Before writing about Israel, an analysis of facts about 9/11 – a web of lies changed the world, enabled by abuse of emotions... Introduction Israel dominates the global media to an almost unseen extent. Only almost, because one event 22 years ago surpassed everything else in terms of media hype: 9/11. What both events have in common is that politicians and the media ruthlessly exploit people’s shock to achieve their goals or to generate clicks and thus rake in money. Most articles have […]

Billionaire Palmer Luckey Unveils Jet-Powered VTOL Kamikaze Drone  Palmer Luckey, the founder of Oculus, is positioning Anduril Industries, his Southern California startup defense firm, to challenge military-industrial complex giants such as Lockheed Martin, Northrop Grumman, Boeing, and General Dynamics.  Luckey revealed on X that Anduril Industries has developed an affordable vertical takeoff and landing drone that can be reused on surveillance or kamikaze missions. Introducing: Roadrunner, a compact VTOL drone powered by twin thrust-vectored turbojet engines with […]

The Colonialism Slander In The State Department And Beyond Authored by Peter Berkowitz via RealClear Wire, Left-wing intellectuals have transformed the complex history of “colonialism” into an all-encompassing slander against the West. A practice dating back to the ancient world, colonialism involves a nation’s transferring a portion of its population into a foreign land and assuming responsibility for administering it. In the United Kingdom and the United States, professors of literature, history, political theory, and international relations routinely teach that the […]

Visualizing US GDP By Industry In 2023 The US economy is complex, and comprised of many different industries that power the world's largest GDP. Breaking it down is Visual Capitalist's Govind Bhutada, who used data from the Bureau of Economic Analysis to visualize a breakdown of US GDP by industry in 2023. He showed this by measuring dollar value added by industry, which reflects the difference between gross output and the cost of intermediate inputs. The Top 10 U.S. Industries by GDP As of Q1 2023, the annualized GDP of the U.S. sits at $26.5 trillion. Of this, 88% or […]

US Officials Accuse Biden Admin Of Downplaying Attacks From Iran-Backed Houthis Via The Cradle Some US officials are criticizing the Biden administration for deliberately downplaying the threat from Yemen’s Houthis on US naval forces, Politico reported Tuesday. The criticism follows an attack on Sunday on several commercial vessels in the Red Sea, which forced a US Navy warship to scramble to respond. The Yemeni resistance movement launched missiles and drones against three separate commercial vessels. The USS Carney fired back, taking down three unmanned aerial drones. […]

The Potemkin Presidency Of Joe Biden Authored by Frank Miele via RealClear Wire, Have you heard about Joe Biden’s historic presidency? Or about the historic accomplishments of Joe Biden’s first term? I have. Repeatedly. Of course, I force myself to watch “Morning Joe” on MSNBC, Jake Tapper on CNN, and Jonathan Karl on ABC, so I’m well-informed about the thinking of left-wing elites and their game plan for keeping Donald Trump out of office. Apparently, part of the plan is to convince the American public that Joe Biden has been a great president, mostly when you […]

Miss Universe Alleged To Be At Center Of Plot To Overthrow Nicaraguan Government How many of you had "beauty pageant contestant at center of allegations to overthrow an authoritarian government" on your 2024 bingo card? We sure didn't. But if you did, looks like you can mark your square thanks to Nicaraguan Miss Universe Sheynnis Palacios. Palacios was the first from her country to win the competition last month, but focus quickly turned to her life outside of the pageant world. According to the Telegraph, she was quickly scrutinized for photos of her at "mass […]

White House Sanctions Israeli Settlers For 1st Time Since Clinton Administration The Biden administration is moving to impose sanctions on Israeli settlers involved in attacks on Palestinians, which will involve banning them from traveling to the United States. Fresh Axios reporting on Tuesday has cited government officials who specify that multiple dozens of known Israeli settlers will be impacted by the visa ban, expected to be implemented by the State Department. Israeli settlers file image The US government has not sanctioned Israeli settlers going all the way back to the […]

6 Things We Need To Do To Start Fixing Youth Crime Authored by Eric Abetz via The Epoch Times (emphasis ours), "Youth crime is out of control" is the refrain heard on many lips around Australia and the Western world. Another common phrase is "The youth are our future." Put those two phrases together and we are left contemplating, indeed fearing for, the future well-being of our society. The statistics on youth crime regularly adorn newspapers and lead electronic media bulletins. Youth crime is a scourge. So how did we get here? What can we do about it? Like with any […]

Philadelphia Macy's Security Guard Fatally Stabbed By Shoplifter With Over A Dozen Prior Arrests Still wondering why your favorite retailer is in a rush to move its city locations out to the suburbs? A security guard was stabbed to death and another guard was injured at the Center City Philadelphia Macy's on Monday morning this week, after an attempted shoplifting that went wrong.  30 year old Tyrone Tunnell "was attempting to steal several hats when he was stopped by security", according to 6ABC Philadelphia. Guards were able to get the store's merchandise back, but a […]

Don’t Let Government Get Away With Poisoning Americans: Hawley Authored by Josh Hawley via RealClear Wire, This year, Americans had the opportunity to revisit the origins of our nation’s nuclear program with the blockbuster film “Oppenheimer.” But there’s one story line that didn’t make the big screen: those Americans who are still paying the price.  For decades, the federal government poisoned an untold number of its citizens through our atomic program. It happened everywhere, impacting uranium mine workers in Texas, Native Americans living downwind from nuclear […]

Putin's Saudi Visit To Talk OPEC+ Cuts & Gaza War Highlights US Failure To Isolate Russia Russian President Vladimir Putin hasn't embarked on a lot of international travel since the Hague-based ICC issued an arrest warrant for him back in March, related to the Ukraine war. His most significant trip came in October to Beijing, where he met with Chinese President Xi Jinping.  Wednesday will see the Russian leader make his first visit to the Middle East in a long time, and since the ICC warrant was issued. By it, he'll seek to demonstrate that Western sanctions have not […]

FBI Arrests Conservative Actor For Taking Part In Jan. 6 Protests Authored by Naveen Athrappully via The Epoch Times (emphasis ours), Conservative actor Siaka Massaquoi was arrested by the FBI on Nov. 30 and charged with misdemeanors in connection with his presence during the Jan. 6, 2021, U.S. Capitol breach. Siaka Massaquoi attends the DailyWire+ premiere of "Lady Ballers" in Nashville, Tenn., on Nov. 29, 2023. (Jason Davis/Getty Images for Bentkey Ventures) The FBI arrested Mr. Massaquoi as he arrived home from a movie premiere, according to a legal defense fundraising […]

Biden Impeachment Inquiry Vote To Come Next Week: Speaker Johnson House Speaker Mike Johnson (R-LA) announced on Tuesday that a vote to authorize the inquiry will take place next week. "The House has no choice if it’s going to follow its constitutional responsibility to formally adopt an impeachment inquiry on the floor so that when the subpoenas are challenged in court, it will be at the apex of our constitutional authority," Johnson said during a press conference. Speaker Mike Johnson is moving forward with an impeachment inquiry against President Joe Biden. The vote […]

Transgender Bathroom Battle Heating Up State By State Authored by Jackson Elliott via The Epoch Times (emphasis ours), Octogenarian Julie Jaman was in the shower at a YMCA-managed pool in Port Townsend, Washington, when she suddenly heard a man’s voice. “There stands a man in a woman’s bathing suit, looking at, watching, and touching little girls who were taking down their bathing suits,” she told The Epoch Times. (Illustration by The Epoch Times, Shutterstock) She was shocked. At the time of the July 2022 incident, she had been using the pool for 34 years and had […]

Climate Grifters Want $2.4 Trillion Per Year, Much More Taxes To "Solve" Global Warming Global warming grifters at the COP28 climate summit were focused on phasing out petrol vehicles and fossil fuel power plants.  COP28 🌐 Wow, Next Level Gaslighting 🔥 Hillary Clinton dropping Climate Change Scam Misinfo below..🔥"In Europe last year they recorded 61k Deaths from Extreme Heat, Africa could be see 500k"...I'm 💯 sure these Deaths had nothing to do with an Experimental Vax 🔥 pic.twitter.com/QUWYVmI5Mf — 𝙍𝙄𝙎𝙀𝙈𝙀𝙇𝘽𝙊𝙐𝙍𝙉𝙀 […]

Watch Live: Taibbi Discusses 'Hamilton 68' Link To Government's 'Cyber Threat League' Yesterday, journalist Alex Gutentag covered the "CITL Files," which stands for Cyber Threat Intelligence League - a Department of Homeland Security partner which sought to implement something called "AMITT," which stands for "Adversarial Misinformation and Influence Tactics and Techniques." Far from simply protecting the public from falsehoods, both government and non-profit actors within Censorship Industrial Complex have followed CTIL’s exact playbook and have waged a full-fledged […]

Zelensky Abruptly Cancels Address To Senators, Lashes Out At Failure To Secure More Taxpayer Funds On Tuesday Ukraine's President Volodymyr Zelensky unexpectedly canceled at the last minute a planned appearance via video link before US Senators mulling an emergency aid package containing over $60 billion for Kiev. Senate Majority Leader Chuck Schumer was the one to announce it to reporters: "Zelensky by the way could not make it to -- something happened at the last minute -- to our briefing," Schumer said. Zelensky's prior in-person visit to Capitol Hill, via CQ Roll Call […]

Democratic Senator Wants Illegal Immigrants To Join The Military Authored by Paul Joseph Watson via Modernity.news, Senator Dick Durbin (D-IL) wants illegal immigrants to be given the opportunity to join the U.S. Military in return for citizenship. Durbin made the comments during a recent Senate speech. Noting how low enlistment levels represent a “grave threat to our national security,” Durbin and that these shortfalls could be met by recruiting illegal aliens. “Do you know what the recruiting numbers are at the Army, Navy, and the Air Force? They can’t reach their […]

Analysts Fear Possible Delays Of Grand Theft Auto VI Release Rockstar Games, owned by Take-Two Interactive Software, revealed on X on Monday evening that the "Grand Theft Auto VI" trailer leaked.  "Our trailer has leaked, so please watch the real thing on YouTube..." Rockstar Games said.  The trailer reveals that the sixth chapter of GTA is coming in 2025.  "Grand Theft Auto VI continues our efforts to push the limits of what's possible in highly immersive, story-driven open-world experiences," said Sam Houser, Founder of Rockstar Games.  Houser said, "We're thrilled […]

Paul Krugman Blames Economic Pessimism On Partisanship. He's Wrong! Authored by Jonathan Newman via The Mises Institute, Paul Krugman can’t figure out why everybody is so bummed about the economy. From his perspective, we should all be jumping for joy, praising Joe Biden, and publicly signing fifty-year commitments to vote Democrat. Official statistics show that “unemployment is still near a 50-year low, yet inflation has been falling fast.” But the ignorant masses simply won’t get with the picture. Krugman admits “surveys of consumer sentiment and political polls […]

WTI Extends Losses To 5-Month Lows After API Reports Huge Crude Build At Cushing Oil prices fell for the fourth straight day to close at five-month lows today as US oil exports neared record highs amid record high domestic crude production flooding the market, overshadowing Saudi Arabia’s pledges that OPEC+ will deliver on its planned production cuts. “The voluntary element of the deal left the markets questioning whether the supply reduction would actually come into effect,” said Fiona Cincotta, financial market analyst at StoneX. Meanwhile, the demand outlook is […]

U.S. service sector activity showed a slight uptick in November, yet hiring significantly slowed, marking the weakest employment growth since October 2022. Businesses are cutting costs by reducing hiring, hinting at a potential downturn in November's job numbers. Upcoming labor reports are anticipated to reflect this slowdown, with modest payroll increases and a steady unemployment rate.

Henry Kissinger's recent passing highlights his role in creating the 1974 "Petrodollar Accord," stabilizing the U.S. dollar by tying oil sales to it. However, this system faces challenges as BRICS nations and others move away from dollar-based trade, potentially weakening the dollar's global position. With these shifts, investing in gold could be a strategic response to anticipated changes in the global monetary system.

Gold reached a new record high of $2,111, buoyed by its status as a traditional safe-haven asset and expectations of U.S. rate cuts. A weaker dollar has also made gold more attractive to non-dollar buyers. Notably, non-aligned and BRICS nations have been increasing their gold reserves while selling off U.S. treasuries. Gold's long-term performance, its 3000% rise over the last 50 years compared to stocks, and its resilience during financial instability make it a compelling component of a diversified portfolio. With ongoing geopolitical tensions, rising national debts, and political […]

In China's Sichuan Province, archaeologists have unearthed over 70,000 artifacts from the 17th century, including gold and silver, linked to the warlord Zhang Xianzhong. His sunken treasure, a result of a failed rebellion against the Ming Dynasty, has been discovered in the Min River. The finds from Zhang's fleet, including significant historical and cultural relics, offer insights into the era's social turmoil and Zhang's controversial rule. This discovery aligns closely with historical accounts of that tumultuous period.

In October, central banks globally added a net total of 42 tonnes to their gold reserves, continuing a robust buying trend. The People’s Bank of China was the largest buyer, significantly increasing its reserves, followed by the Central Bank of Turkey and the National Bank of Poland. Despite higher sales volumes from countries like Uzbekistan and Kazakhstan, the overall trend of strong central bank gold buying remains unaltered, reinforcing gold's positive outlook in the global market.

Agility Robotics' upcoming RoboFab facility in Salem, Oregon, set to mass-produce humanoid robots, signals a worrying trend in automation. With plans to produce 10,000 robots annually, this development underscores concerns about the increasing replacement of human labor in warehouses and other industries. China's similar ambitions to mass-produce humanoid robots by 2025 further highlight a global shift towards automation that could have significant negative implications for employment and job security.

The U.S. economy's reliance on Federal Reserve money printing is evident in the job market. According to the U.S. Bureau of Labor Statistics, job openings decreased to 8.7 million as of the end of October, with hires and separations remaining relatively stable. A notable correlation exists between the Fed's balance sheet and job openings: as the Fed expanded its asset purchases in 2021 and 2022, job openings increased. However, with the Fed beginning to reduce its balance sheet, job openings started to decline, suggesting a dependency of the job market on the Fed's monetary policy.

The risk of a global recession is escalating, marked by increasing economic warnings and financial instability. Analysts like Lance Roberts highlight key recession indicators, including yield curve inversions and Federal Reserve actions. Manufacturing surveys and the Fed's Beige Book report further indicate a downturn, with declining activity in key sectors. These factors collectively point toward a looming deep recession in the global economy.

In this eye-opening video, we delve into the ominous signs pointing towards the biggest economic disaster in history.

Silver is currently underpriced, with the silver-gold ratio over 81-1. Historically, the ratio has averaged between 40:1 and 60:1. Silver demand is expected to nearly double over the next decade, particularly in solar energy and electric vehicles. The 2022 silver demand set records in every category, while supply remained flat. The price of silver does not reflect the growing supply deficit and future demand.

Sprott says central banks are maintaining a torrid pace when it comes to gold buying, propelling gold prices to a new all-time high before backing off. The post Sprott Says Central Banks Are Buying Gold At A Torrid Pace appeared first on King World News.

The U.S. bond market recently faced stress due to a spike in demand in the repurchase agreement (repo) market, causing overnight repo yields to exceed 5.50%. This situation, reminiscent of the September 2019 market disruptions, occurred when a shortage of bank reserves and increased government borrowing led to spiked financing rates, prompting Federal Reserve intervention.

Mohamed El-Erian from Allianz suggests the U.S. Federal Reserve is facing challenges in effectively communicating its interest rate strategy. He believes the markets are wrongly anticipating imminent rate cuts and that the Fed might tolerate higher inflation rather than risking a recession. El-Erian emphasizes the Fed's credibility issue and proposes that it may need to accept slightly higher inflation rates due to post-pandemic economic changes.

Euro zone business activity experienced a lesser downturn last month, but still suggests an economic contraction this quarter. The dominant services sector is facing challenges in generating demand, as indicated by recent survey findings.

The Bank of England's plan for a digital pound could heighten the risk of bank runs and failures, as it allows for faster withdrawals during financial instability. The move may also lead to increased borrowing costs, as banks face higher funding costs. MPs have raised concerns about potential data misuse and the adverse impact on those reliant on physical cash. The need for clear evidence of the digital pound's benefits without escalating risks is emphasized.

China faces a significant financial time bomb risk due to its banking system's exposure to a substantial amount of hidden debt, accumulated by cities and provinces through years of unchecked borrowing. Estimates by the International Monetary Fund and Wall Street banks place this off-balance-sheet government debt between $7 trillion and $11 trillion. This debt largely comprises corporate bonds issued by local-government financing vehicles for infrastructure projects and other expenditures.

China's central bank injected 210 billion yuan (approximately $29.52 billion) into the market through seven-day reverse repos at a 1.8% interest rate. This intervention, aimed at stabilizing liquidity in the banking system, reflects ongoing concerns about financial stability towards the month's end.

The Federal Reserve's Vice Chair for Supervision announced that the central bank is considering changes to its regulatory and supervisory guidelines for liquidity management. This reassessment is due to concerns that existing measures may not effectively handle the rapid pace of modern bank runs.

Today Michael Oliver, the man who is well known for his deadly accurate forecasts on stocks, bonds, and major markets, communicated to King World News that an emotional 24 hours of trading ushered in a $100 trading range in the gold market. The post Michael Oliver – Emotional 24 Hours Of Gold Trading Ushers In $100 Trading Range appeared first on King World News.

Gold prices, after reaching a record high of $2,100, retreated, with investors anticipating Federal Reserve rate cuts next year. Bloomberg Intelligence's Mike McGlone notes gold is trying to maintain support around $2,000, previously a resistance level. McGlone sees gold in the early stages of a bull market, driven by significant purchasing from central banks.

The Bank for International Settlements (BIS) maintains a cautious outlook on inflation, despite some recent improvements, signaling ongoing challenges for central banks. The BIS underscores the necessity for central banks to adapt to a potentially worsening global economic climate, particularly as rising interest rates begin to strain consumer credit markets, including the burgeoning buy-now-pay-later sector. With the end of ultra-low interest rates, the BIS points to a persisting uncertainty and a possibly difficult road ahead in managing inflation and interest rate levels.

What does Mike Maloney think of the recent price action in gold and silver? Tune in today’s video to find out…

Central clearinghouses, with over $1 trillion in liquid assets, can worsen financial stress by creating "margin spirals." During crises, increased margin requirements by these clearinghouses can lead to widespread asset sell-offs, escalating market volatility. The Bank for International Settlements (BIS) highlights concerns about their $600 billion government bond holdings, which can exacerbate sell-offs when their value drops. This risk transforms counterparty risk into systemic liquidity risk. The BIS emphasizes that such spirals, even from small market segments, can threaten the broader […]

The U.S. is grappling with fiscal challenges, including a recent credit rating downgrade and the threat of a government shutdown. With a projected rise in national debt to 115% of GDP in the next decade and a growing budget deficit, there are concerns about who will purchase the estimated $20 trillion in Treasury debt needed. This situation poses risks of a potential Treasury market crisis, but the U.S. dollar's status as a global reserve currency may continue to attract investors, albeit with limited patience.

The White House has alerted Congress that it is nearly out of funds for military aid to Ukraine, having spent approximately $111 billion. Without additional funding, the U.S. will be unable to continue supporting Ukraine with weapons and equipment. The Pentagon has already used 97% of its allocated funds, and the State Department has exhausted its budget for military assistance.

Increasing numbers of Americans are withdrawing from their 401(k) accounts, signaling rising financial strain amid high inflation. Fidelity reports a jump in hardship withdrawals and loans from retirement savings. This trend, along with growing consumer and executive pessimism, suggests concerns about an impending recession and the ongoing impact of inflation on household incomes. JPMorgan CEO Jamie Dimon also highlighted risks of an economic downturn due to rising interest rates.

The dollar started the week weak after cautious remarks from Federal Reserve Chair Jerome Powell, with markets anticipating a potential end to the rate-hike cycle. Powell indicated U.S. policy was slowing the economy, leading to a 60% chance of a rate cut by March. Meanwhile, Bitcoin surged to $40,000, its highest in over a year. The U.S. dollar index hovered around 103.28, while the Australian and New Zealand dollars strengthened. Upcoming speeches by European Central Bank officials and economic data could further impact currency markets.

A Penn Wharton study suggests the U.S. could reach its public debt limit of approximately 200% of GDP in about 20 years under current fiscal policy. Currently, U.S. public debt stands at about 98% of GDP, or $26.3 trillion. Without corrective measures, the U.S. risks defaulting on its debt. Market confidence in future fiscal adjustments could shorten this timeframe if lost. The study also notes that the severity of the debt issue is often exaggerated, and recent increases in gold prices indicate growing concerns about debt sustainability.

The U.S. Treasury yield curve has shifted from steeply inverted in May to nearly flat and is now steepening again. This unusual pattern, resembling an inverted double hump, suggests mixed market expectations about a potential short recession followed by inflation, risk aversion, or doubts about the Federal Reserve's control. The current shape of the yield curve raises concerns about the sustainability of U.S. federal debt and the temporary nature of recent inflation declines.

U.S. factory orders in October fell sharply by 3.6% month-over-month, the largest drop since the COVID lockdowns in April 2020, with a year-over-year decline of 2.1%. Core factory orders also decreased, down 1.2% monthly and 2.2% annually. Durable goods orders plunged 5.4% in the same month. Despite these declines, defense spending increased by 24.7%. Year-over-year growth in factory orders for October was stagnant amid negative M2 Money growth.

The Case-Shiller National home price index indicates a slowdown in housing price growth since March 2022. Recent homebuyers, particularly in high-demand areas, are facing property value depreciation, making it harder to build equity and potentially leading to sales losses. However, long-term homeowners are still profiting, with 97% of sellers nationwide selling their homes at a gain. The current market's high prices are sustained by tight inventory and homeowners' reluctance to switch to higher mortgage rates.

King World News repeatedly reported in recent weeks that the price of gold was headed to a new all-time high. Well, the price of gold soared in overseas trading, hitting $2,152 at one point. The buying was so intense in the gold market and the upside action so violent that it required the Fed's massive trading room to intervene before the price would back off. The price of gold, however, continues to trade above the previous all-time high. Look at what is happening, but first, a quick note from Michael Oliver. The post GOLD SOARS HIGHER IN OVERSEAS TRADING! $3,200 Could Be A Target appeared […]

Gold's trend of rallying in December is expected to persist, recently hitting a record high of $2,089.70 an ounce. Factors such as seasonal patterns, economic uncertainties, potential recession, and declining real interest rates are contributing to its strength. Central bank purchases amid limited supply are also supporting gold's rise. Additionally, a weakening dollar due to lower interest rates is boosting gold's appeal. So far this year, gold has increased by over 14%.

Gold prices reached a record high of $2,100 per ounce, driven by geopolitical tensions, expectations of U.S. interest rate cuts, and a potential weaker dollar. Analysts anticipate gold maintaining above $2,000, possibly reaching $2,200 by end of 2024. The demand for gold, seen as a safe-haven asset, is bolstered by factors like the Israel-Palestinian conflict and central banks' interest in gold. A forecasted shift in Fed policy in 2024 could further increase gold's attractiveness.

A U.S. warship, USS Carney, and three commercial vessels were attacked in the Red Sea, linked to tensions from Israel's conflict with Hamas. The Houthis, an Iran-backed group in Yemen, claimed responsibility, targeting the ships with drones and missiles. The USS Carney, which had previously intercepted attacks from Yemen, responded without damage or crew injuries. The attacks raise concerns about the safety of international maritime commerce in a key global trade corridor and the potential wider impact on Middle East stability.

The U.S. faces fiscal difficulties with a rising national debt expected to reach 115% of GDP in a decade and concerns over who will buy the massive issuance of Treasuries. Despite rising Treasury yields and a credit rating downgrade, the U.S.'s economic strength and the dollar's status as a reserve currency offer some investor confidence. However, there's caution against complacency, with the UK gilt crisis serving as a warning of potential market reactions to fiscal instability.

ECB's Nagel stated that the battle against inflation is ongoing and challenging, with potential geopolitical tensions posing further risks. He couldn't confirm if interest rates have peaked, as ECB decisions are data-dependent. Nagel expects inflation to decrease gradually and unevenly, influenced by factors like ending energy price caps and strong wage growth in Europe.

Wall Street anticipates the Federal Reserve might cut interest rates as early as May, possibly in March, but Federal Reserve officials, including Chair Jerome Powell, indicate that further rate hikes are still possible. Despite recent slowing inflation, the Fed's focus remains on maintaining rates to reach a 2% inflation target, with some officials open to raising rates further if needed. This stance contrasts with investor optimism for early rate cuts in 2024.

The Vix, known as Wall Street's "fear gauge," has dropped to a four-year low of 12.4, suggesting investor complacency about the Federal Reserve managing inflation without economic downturn. This decrease in volatility coincides with a strong S&P 500 performance and a recent decline in U.S. inflation. However, analysts warn of potential future market instability, as longer-term forecasts indicate higher volatility ahead. Concerns also exist about overlooked risks in areas like commercial real estate and credit delinquencies.

On the heels of gold surging to all-time highs hitting $2,138 at one point, it appears that hope everything is okay with the global economy and banking system is beginning to die. But the rise to the upside for the gold market is just beginning. The post GOLD HITS ALL-TIME HIGH: Hope Dies, Gold Rises! appeared first on King World News.

Gold and silver are setting records and building momentum. We got the latest official inflation numbers this week… and the Fed seems to live in a different reality than the rest of us.

Today the spot price of gold hit an all-time high as the price of silver continued to surge along with the mining stocks. The post Price Of Spot Gold Hits All-Time High As Silver Surges Along With Miners appeared first on King World News.

Silver's demand remains high due to its industrial use, but the notable trend is the record pace of gold accumulation by central banks globally. Key factors driving the rise of precious metals include the U.S. national debt surpassing $34 trillion, high interest servicing costs comparable to the Defense Department's budget, and geopolitical tensions. Additionally, a weakening dollar and the Federal Reserve's expected shift from restrictive to more accommodative policies contribute to this trend.

Gold is at a critical juncture, benefiting from December seasonals and expectations of a dovish pivot by the Federal Reserve. The dollar's weakness adds to gold's favorable position. Recently rising to $2071, up $35, gold shows potential for further gains without being overcrowded. Short-term profit-taking might follow, but if gold stays above $2050, it's poised for a significant bullish breakout.

Gold prices hit a seven-month high at $2,060.69 per ounce, and U.S. gold futures rose to $2,080.60, following Federal Reserve Chair Jerome Powell's comments hinting at possible U.S. monetary policy easing. These remarks led to increased expectations of an early rate cut next year. Meanwhile, silver prices also climbed, reaching a six-month high of $25.39 per ounce. Both gold and silver benefited from lower interest rates and a weaker dollar.

IRS Commissioner Danny Werfel announced plans to increase hiring of tax enforcement agents in 2024, with a focus on complex cases involving big corporations and high-income earners. This is part of a broader initiative to enhance IRS capabilities using $60 billion in additional funding. Despite assurances that audits will not increase for Americans earning less than $400,000, there are concerns about the lack of a clear definition of "high income" at the IRS, which could potentially lead to more widespread audits. Additionally, the IRS is hiring more armed agents for its criminal […]

After  gold ended at the highest monthly closing price in history in November, the price of gold is now only $7 from making a new all-time high. The post ALERT: Gold Threatens All-Time High, Trading At $2,068! appeared first on King World News.

Buy low, sell high... Sounds easy enough. But history shows that timing the market could have dire consequences for your overall returns...

The Heritage Foundation reports that 40% of U.S. personal income taxes are now consumed by interest payments on federal debt. In October, $88.9 billion was paid in interest, with annual payments potentially exceeding $1 trillion. The article likens this to a person overwhelmed by credit card debt. Two solutions are suggested: hyperinflation, akin to Venezuela's model, which could drastically devalue the debt but with severe economic consequences, and a debt jubilee, an ancient practice of erasing debt, which is seen as an unlikely remedy in the modern context.

Federal Reserve Chairman Jerome Powell indicated Friday that it's too early for aggressive interest rate cuts due to inflation concerns. He emphasized maintaining restrictive policies until inflation is reliably near the 2% target, hinting at further tightening if necessary. This statement contrasts with market expectations of the Fed easing in 2024, which has recently boosted Wall Street. Powell's remarks received a mixed response in the markets.

In October, U.S. pending home sales plunged 1.5%, reaching their lowest level since 2001, surpassing the downturn observed during the Great Financial Crisis. This significant drop, which marked an 8.5% decline from the previous year, reflects an acute crisis in the housing market. High mortgage rates, which momentarily exceeded 8%, combined with a severe shortage of available homes, have drastically suppressed housing demand. The situation is particularly dire in the West, where the decline in home sales has been most severe, indicating a market contraction worse than what was experienced […]

November's U.S. manufacturing PMI data indicates a downturn, signaling economic stagnation. The S&P Global Manufacturing PMI fell to 49.4, showing a contraction driven by reduced new orders and employment. The ISM Manufacturing PMI remained unchanged at 46.7, missing expectations and reflecting broad sectoral weakness. This slowdown, marked by a significant drop in factory employment not seen since 2009, raises concerns about reduced consumer spending and weaker wage growth. The data points to a stagnating economy with reduced manufacturing activity and potential GDP contraction, […]

Javier Milei's election as the world's first anarcho-capitalist president is historically significant. It's unprecedented for someone elected to run a state to aim at abolishing it, proposing minimal government involvement. His victory, especially among young and poor supporters, could signal a trend towards greater individual freedom. Milei understands the government's negative role in the economy and money. He proposes sound money policies and free-market principles, aiming for Argentina to become an investment magnet. His foreign policy should focus on neutrality, being friendly to all but […]

The Euro-zone faces a persistent risk of a "sovereign doom loop," where banking sector troubles could severely impact sovereign states. Despite attempts to disconnect banks from state finances, S&P Global Ratings warns of heightened risks in 2024 due to recession concerns and uncertain fiscal policies. This situation, similar to the UK's 2022 financial crisis, could lead to significant market confidence loss. Banks, heavily invested in government bonds, may further increase their holdings, deepening the interlinkage and risk. The region could face further destabilization due to potential […]

The persistence of high bank reserves in the US despite the Federal Reserve's balance sheet reduction hints at underlying financial strains. Banks are hoarding cash, incurring higher costs to maintain liquidity due to substantial unrealized losses on bond portfolios. This cautious approach is fueled by recent bank failures and regulatory shifts, fostering a climate of financial insecurity. The situation raises concerns about the Federal Reserve's quantitative tightening policy and suggests potential early termination of this strategy if financial stress intensifies. The declining use of the […]

Michael Barr, the Fed's Vice Chair for Supervision, highlighted the discount window as essential for financial stability and monetary policy. Speaking at an ECB event, he urged banks to use this funding source regularly, not just in crises. His comments follow recent U.S. bank failures and a report recommending Federal Home Loan Banks to guide lenders to the Fed in severe stress. Barr reassured that using the discount window is a positive action and shouldn't be seen negatively by banks or regulators.

The IMF, World Bank, BIS, and Switzerland’s central bank are collaborating to explore tokenization, which converts financial assets into digital tokens. This project aims to speed up fund transfers to developing economies and enhance regulatory compliance. It also examines integrating central bank digital currencies with existing payment systems.

Russia is going to preside over the BRICS starting in January and will push for a gold-backed currency that will be a global game-changer. The post GLOBAL GAME-CHANGER: Russia To Lead BRICS In January And Push For Gold-Backed Currency appeared first on King World News.

Gold prices are on track for their second consecutive monthly gain, driven by expectations of a Federal Reserve rate cut. Despite a minor drop, spot gold remains robust at around $2,035.53 per ounce, reflecting a 2.7% increase this month. U.S. gold futures also experienced a slight decline. The weakening dollar and lower Treasury yields contribute to gold's appeal. Market predictions indicate a possible rate cut by March, with gold prices expected to hit new highs in early 2024 due to the Fed's policy shift and a slowing economy. Silver also continues to rise, aligning with the positive trend […]

Inflation is often linked to rising prices due to factors like oil price hikes, influencing inflationary expectations. However, without an increase in the money supply, a general rise in prices cannot occur. Economists like Ben Bernanke focus on managing these expectations to control inflation. Milton Friedman argued that predictable inflation is less harmful than unexpected inflation. Nonetheless, the core issue is that inflation is fundamentally about the increase in the money supply, not just price rises, and its impact on the economy goes beyond just changing price levels.

The Office of Financial Research's Financial Stress Index, designed to foresee financial crises, has notably failed in its role. It didn't predict the financial upheaval of the COVID-19 pandemic or the major U.S. bank failures that followed. This raises serious concerns about the reliability of the tools used by federal banking regulators and their grasp of the true state of the financial system. Despite its ineffectiveness, this index continues to be promoted, suggesting a possible disconnect between the perceived and actual financial stability in the U.S.

US government debt is rapidly approaching $34 trillion, with rising interest rates pushing the Treasury's borrowing costs higher. Inflation and Federal Reserve rate hikes have led to interest rates on new Treasury securities reaching between 4.3% and 5.5%. The average interest rate on all government debt increased from 1.57% in February 2022 to 3.05% in October. Consequently, the government's interest payments have doubled since 2018, reaching $245 billion in Q3 2022. This escalation in debt servicing costs is placing a significant financial burden on the government, despite high tax revenues.

"Unrealized losses" at FDIC-insured commercial banks on securities, primarily Treasury securities and MBS, jumped by $126 billion to $684 billion at the end of Q3. This increase is linked to rising interest rates, which caused a significant drop in the market prices of these bonds. While these losses are considered temporary since banks will be paid face value at maturity, they can pose risks if they become permanent.

Where does Gold go from here? Join Mike Maloney and Alan Hibbard as they explore the 5 times in the last 50 years that gold's price has behaved just like it is today... and see where it usually goes next.

Cybercrime is on the rise in Europe, with Germany reporting record levels in 2021. Cybercriminals are increasingly using AI for sophisticated hacks and scams, including AI-written code for mass data theft and voice mimicry to bypass security systems. These criminals often recruit openly online and operate globally, making it challenging for law enforcement to track and prosecute them. For instance, German police discontinued an investigation into an €800,000 theft, citing difficulties in catching perpetrators based abroad. This highlights a broader issue of inadequate resources and […]

Two important collapses are taking place as the price of silver continues to surge and gold threatens its all-time high. The post Two Important Collapse Are Taking Place As Silver Surge Continues And Gold Threatens All-Time High appeared first on King World News.

The U.S. housing market is under strain, with pending home sales dropping 1.5% in October and down 6.6% year-over-year, marking a continuous negative trend for 23 months. This decline has driven the Pending Home Sales Index to a new record low. High mortgage rates and limited inventory are major challenges, affecting the market despite recent decreases in mortgage rates. This situation is impacting Americans' primary source of wealth and raising concerns about the ongoing financial pressure.

Last week's significant drop in non-seasonally adjusted initial unemployment claims reversed the previous surge, with a minor increase in seasonally adjusted claims. Continuing claims, however, have risen above 1.9 million for the first time since November 2021. This rise in claims, attributed to seasonal distortions, is expected to further increase, according to Goldman Sachs. They predict an additional rise of around 125,000 claims by March, indicating ongoing challenges in the labor market.

The BEA revised third-quarter GDP growth from 4.9% to 5.2%, but the Gross Domestic Income (GDI) stands at only 1.5%, highlighting a significant discrepancy. This difference raises questions about the economy's strength, as GDI often receives less attention. Despite higher GDP figures, the lower GDI suggests potential economic weakness, possibly nearing recession. This contrasts with the more optimistic public perception of the economy based on GDP growth alone.

The Federal Reserve's preferred inflation gauge, the Core PCE Deflator, dropped to 3.5% year-over-year in October, its lowest since April 2021, from 3.7% in September. The headline PCE also decreased to 3.00% YoY, under the expected 3.1%. Both income and spending growth have slowed, with income growth at its slowest since December 2022 (4.5% YoY) and spending growth at its slowest since February 2021 (5.3% YoY). The savings rate saw a minor increase from a revised 3.7% to 3.8% in October. This data raises questions about whether consumers are beginning to cut back or simply reaching their […]

ChatGPT A recent analysis using government data reveals that the typical American household now needs an extra $11,434 annually to maintain the same standard of living as in January 2021, before inflation hit 40-year highs. This financial burden persists despite a receding inflation rate and a strong economy indicated by low unemployment. The analysis, conducted by Republican members of the U.S. Senate Joint Economic Committee, highlights the ongoing struggle of many families amid economic growth. Rising living costs and inflation are key reasons behind Americans' economic pessimism.

Under President Biden, inflation remains high, with significant increases in food, used cars, and rent prices since 2020. Food prices rose by 25%, used cars by 35%, and rents by approximately 20%. A survey revealed that the average weekly cost of food for a four-person household increased from $238.32 in 2020 to $315.22 in 2023, a 32% jump. Food CPI peaked in August 2022 at 11.33% and has been decreasing as M2 Money growth slows down. Despite these trends, President Biden attributes high prices to factors other than his administration's policies.

The percentage of yield curve inversions in the Treasury market, an indicator often used to predict economic recessions, has recently risen to nearly 90%, signaling a potential recession ahead. This increase comes after a brief period of decline. It's important to remember that just because a recession hasn't yet occurred doesn't mean the probability of it happening has diminished. The Treasury market's current state suggests that the risk of a recession remains high.

Family offices, which manage investments for families typically with assets of $100 million or more, are increasingly investing in private markets rather than public stocks, even amidst market rallies. This shift highlights a significant change in their investment strategies. The focus is not just on private markets; these offices are also expanding their interests into alternative assets like real estate and commodities.

Tuesday's auction of $39 billion in 7-year Treasury notes received weak demand, marking a notably poor reception compared to expectations set earlier in the day. Primary dealers absorbed a significant portion of the notes, indicating lackluster interest from a broader range of investors. This follows a pattern of varied responses to recent Treasury sales, including Monday's somewhat tepid $54 billion offering of 2-year notes and a more successful $55 billion sale of 5-year maturities. The overall market reaction saw most Treasury yields, particularly the 2-year rate, remaining generally lower […]

King World News readers around the world need to purchase physical silver before the public starts stampeding into the market to buy sending the price hundreds of dollars higher. The post Get In Before The Public Starts Buying Silver Because The Price Is Headed Hundreds Of Dollars Higher appeared first on King World News.

Gold futures have recently surged to their highest levels since August 2020, marking a significant turnaround from a previous bearish trend. This shift is highlighted by the emergence of a bullish indicator known as a "golden cross." This technical pattern occurs when a short-term moving average, such as the 50-day moving average, rises above a longer-term moving average, like the 200-day moving average. This crossover is often interpreted by investors as a sign of increasing momentum and potential for further price gains in the gold market.

Amid market uncertainty, investors are holding record amounts of cash, reflecting skepticism about the economy's health despite official positive statistics. The stock market's optimism is driven more by expectations of Federal Reserve rate cuts rather than true economic strength. With concerns about the long-term value of cash due to inflation and credit risks, there is increasing interest in gold as a stable and potentially more profitable alternative. Investors are looking for a catalyst to shift from conventional assets to precious metals like gold, seeing it as a safer option in […]

The escalating tensions in Ukraine and Gaza could potentially trigger a sharp increase in oil prices, potentially reaching $150 per barrel. This surge could induce a significant economic downturn, echoing the effects of past oil crises. Additionally, these geopolitical conflicts might precipitate a drastic drop in the Dow Jones index, similar to previous economic slumps caused by similar events. For instance, a severe downturn could lead to a decline in the Dow Jones index comparable to a 45% fall experienced during the 1974 recession, equating to a drop of over 15,000 points from current […]

Americans are increasingly tapping into their savings to maintain their lifestyles amid rising living costs. Recent Morning Consult polling reveals a significant decrease in adults who can cover six months of expenses with their savings compared to last year. Additionally, about 21% are unsure how long their savings will last, up from 15.5% in July 2022. This trend reflects a desire to preserve consumption patterns, even at the cost of dwindling savings, and contributes to ongoing economic uncertainty and pessimistic sentiment.

Despite widespread economic concerns, consumer spending remains high, with record Black Friday participation and holiday spending predicted to reach $966.6 billion. However, this surge is fueled by "doom spending," where over a quarter of Americans spend mindlessly due to economic anxieties. Particularly among younger generations, this trend leads to rising credit card debt, now exceeding $1 trillion. Experts warn of the long-term negative impact on financial stability, urging a shift towards more prudent financial management.

Hedge fund manager Bill Ackman anticipates the Federal Reserve may start cutting rates as early as the first quarter of 2024, sooner than the market's mid-year expectations. Ackman cites signs of economic weakening evident in some of his companies. He argues that maintaining mid-5% interest rates with inflation below 3% results in high real interest rates, negatively impacting the economy. The shift from low to higher interest rates, especially for fixed-rate debts in businesses and real estate, could lead to a "hard landing" if rate cuts don't occur soon.

Today the top trends forecaster in the world predicted that as investors across the globe continue to dump dollars, the price of gold will soar. The post Celente – As Investors Dump Dollars, Gold Prices Will Soar appeared first on King World News.

The global economy faces a bleak 2024, with growth slowing to 2.7%, the lowest since 2020, due to ongoing wars, high inflation, and continued interest rate hikes. The U.S. and China, key economic drivers, are both expected to see reduced growth, further dampening the global outlook. The U.S. growth is projected to drop to 1.5%, and China's to 4.7%. The eurozone is also set for a slowdown, with just 0.9% growth anticipated. This paints a picture of a challenging year ahead, with significant risks of economic stagnation.

The US Bureau of Economic Analysis reported that the revised Q3 GDP growth rate was 5.2%, the highest since Q4 2021 and above initial estimates. This growth was mainly due to increased government spending, which contributed 0.94% to GDP, and inventory investment. However, personal consumption's contribution decreased slightly compared to the previous quarter. Corporate profits also rose in Q3, with significant gains in both financial and nonfinancial sectors. Despite these positive figures, concerns about long-term economic stability remain.

The US Federal Reserve is facing significant operating and capital losses, raising concerns about its financial stability. These losses, potentially as high as $100 billion, are due to high-interest rates impacting its bond portfolio and increased expenses. There is a growing debate about who will bear the cost of these losses, with many analysts suggesting that American taxpayers may ultimately be responsible. This situation underscores the potential financial burden on US taxpayers due to the Fed's current financial challenges.

Growing support in Washington for a commission to address the U.S.'s $34 trillion debt faces skepticism amid congressional divisions. The proposed fiscal commission would explore debt reduction, but its effectiveness is uncertain, echoing past efforts like the 2010 Simpson-Bowles commission. Key lawmakers question the proposal's feasibility, citing political disagreements, especially regarding spending cuts and revenue. Despite these doubts, public surveys show strong bipartisan support for the commission, aimed at finding long-term fiscal solutions and addressing mandatory spending programs.

The aggressive monetary tightening has severely impacted US high-risk borrowers who previously depended on low-interest rates. With rates now around 5%, companies with leveraged loans linked to floating rates are struggling with liquidity issues. The LSTA Leveraged Loan index shows a steep drop in earnings growth and a significant decline in the average EBITDA to interest expense ratio. This scenario suggests heightened risk, especially for businesses heavily reliant on floating rate-leveraged loans, as they now face severe challenges in the current high-rate environment. A potential downturn […]

The Biden administration's request for over $105 billion in supplemental security spending, mainly for Israel and Ukraine, is raising fears of global conflict incentivization, with the burden falling on U.S. taxpayers. Critics, including Robert Kennedy Jr., argue that this focus on defense diverts resources from vital domestic issues. The plan, potentially benefiting defense contractors significantly, stokes concerns about war profiteering and the influence of the defense sector on U.S. foreign policy. The final decision rests with Congress, where the defense lobby's sway is a contentious […]

Gold prices surged on Tuesday, reaching $2,038.45, driven by a weakening US Dollar and dovish comments from Federal Reserve Governor Christopher Waller. Waller indicated that a continued decline in inflation could lead to a reduction in the policy rate. Chicago Fed President Austan Goolsbee also acknowledged significant progress in lowering inflation. Despite this, Fed Governor Michelle Bowman maintained a possibility of further rate hikes. These developments, reflecting a shift from the Fed's typically hawkish stance, led to a decrease in Treasury yields, with the 10-year and 2-year notes […]

Chief Investment Strategist Michael Hartnett foresees a promising outlook for 2024, highlighting the potential for growth in what he terms the "3Bs": Bonds, Bullion (Gold), and Breadth (diverse investments). Hartnett's anticipation of a robust market is based on his expectation of a dynamic economic landscape. He is strategically waiting for the perfect alignment of factors - bearish investor positioning, a rebound in corporate profits post-recession, and a shift towards easing policy (the "3Ps").

Gold prices are expected to remain high due to several factors, even if inflation eases. Central banks, particularly China's, are buying gold to diversify and stabilize their reserve assets, partly influenced by geopolitical tensions like Russia's invasion of Ukraine. Additionally, in China, gold's demand as a wealth store is increasing due to economic challenges and property market issues. This trend, coupled with gold's status as a safe haven in uncertain times, suggests that its demand will stay elevated, especially with the approaching 2024 U.S. election year adding to market volatility.

The United States is at risk of a debt spiral and fiscal crisis, with the national debt surpassing $33 trillion in 2023. Economists warn that the government's deficit spending and the Federal Reserve's strategies to manage debt are increasingly ineffective. Investor confidence in U.S. Treasurys is declining, as evidenced by downgraded ratings and growing skepticism over the U.S.'s ability to manage its debt without causing inflation or default. Restoring investor trust in U.S. financial stability is becoming a critical challenge.

The Federal Reserve's extensive bailouts of major banks, as shown by FRED's data, highlight the precarious state of the U.S. financial system. Since the 2008 crisis, these banks have fluctuated wildly in cash assets, indicating a shift from stable to chaotic financial operations. The Fed's actions, aimed at preventing bank runs and panic, have led to repeated, massive injections of emergency funds, underlining the banks' dependency on Fed support rather than robust regulatory oversight. This situation, further exposed by the recent major bank failures, calls into question the Fed's […]

Welcome to a glimpse into the future of internet security. In this exclusive interview, Mike Maloney dives deep into NILLION, a revolutionary technology with Alex Page.

The November Conference Board Consumer Confidence index improved to 102.0 after a significant downward revision of October's data to 99.1, marking the lowest since July 2022. The Present Situation Index dropped to 138.2, the lowest since April 2021. Consumer expectations, remaining below the recession-indicative level of 80 for the third month in a row, signal growing concerns about an impending economic downturn. Around two-thirds of consumers anticipate a recession within the next year, and labor market indicators continue to worsen.

Gold prices are surging, recently surpassing $2,013 per ounce and reaching a six-month high. Analysts are optimistic, predicting that gold might exceed its 2020 record high of $2,074.88. Key indicators suggest a breakout around $2,050 could lead to further gains, with targets around $2,500/oz. The rally is driven by falling real rates, geopolitical uncertainties, and speculation of the Federal Reserve pausing interest rate hikes. Gold's status as a safe-haven asset is reinforced by increased purchases from central banks like China, Poland, and Singapore, underscoring its positive momentum.

Market expectations of Federal Reserve rate cuts in early 2024 are at odds with the Fed's own signals of possible rate hikes to fight inflation. Monetary aggregates like M1 and M2 are decreasing, but total borrowings from the Fed are increasing, indicating that money printing is mainly aiding the banking sector, not the broader economy. This suggests that inflation may not drop as quickly as some anticipate. If the Fed does cut rates, it might be due to a decline in private sector demand, rather than a positive economic sign. Such rate cuts, driven by economic downturns, are unlikely to boost […]

The Bank of Japan is grappling with a substantial financial challenge, recording a massive paper loss of ¥10.5 trillion ($70.7 billion) on its assets as of the end of September. This is the largest loss since fiscal 2004, significantly impacting the bank's balance sheet. The loss is attributed to the rise in yields, which has reduced the value of the bank's extensive bond holdings. This situation poses a serious concern for the bank's financial health, despite Governor Ueda's assurances that it won't impede monetary policy.

China's banking sector is under severe stress, tasked with propping up its faltering $57 trillion property industry. Banks like ICBC face the prospect of issuing risky, unsecured loans to financially unstable developers. This move could dramatically spike their bad debt provisions, with an estimated additional $89 billion needed in 2024, severely impacting their profits. The situation is dire, forcing banks to contemplate drastic measures like reducing growth targets and cutting jobs, while juggling government demands and business sustainability. This predicament poses a significant threat to […]

Eurozone credit to non-financial corporations shrank by 0.3% in October, marking the first decline since 2015 and signaling the negative impact of the European Central Bank's aggressive rate hikes. This contraction in lending reflects a broader economic slowdown in the region, exacerbated by tighter monetary policy. Banks' rapid repayment of ECB loans is contributing to a significant reduction in the central bank's assets. The decrease in the broad money supply, M3, further indicates a shift away from credit and an increasing preference for savings. These trends, reflecting a worsening […]

Javier Milei faces significant challenges in Argentina, where many politicians have grown powerful and wealthy through policies that have led to economic decline. To restore prosperity, Argentina needs a stable macroeconomic and monetary system. This requires recognizing the failure of its currency and the bankruptcy of its central bank, and implementing urgent, market-friendly reforms. Despite the difficulties, the potential for Argentina's economy is vast. The country, once wealthy, has been impoverished by socialism. To regain its prosperity, Argentina must move away from socialist […]

Global central bankers are expressing concerns over the future of monetary policy amidst varying economic challenges. The Reserve Bank of Australia notes economic resilience and persistent services inflation. The Bank of England discusses ongoing uncertainties despite expectations of sustained high rates. The Bank of Spain warns of short-term profitability and upcoming credit risks, while the Bank of Thailand highlights high household debt and SME sector challenges. Former RBA Governor Philip Lowe emphasizes the need for central banks to effectively manage inflation to maintain credibility.

Silver prices are experiencing a surge, influenced by a combination of a weakening dollar, speculation that the Federal Reserve might pause interest rate hikes, and market expectations of a possible dovish shift in the central bank's future monetary policy. These factors are collectively impacting silver's future price trajectory.

Goldman Sachs analysts predict a brighter future for gold in 2024, linking potential price increases to U.S. real rates and dollar trends. They anticipate sustained consumer demand from China and India, along with central bank purchases, to counter any downward pressure. Similarly, Bank of America's commodities team expects gold prices to rise from the second quarter of 2024, driven by lower real rates due to Federal Reserve rate cuts.

Bloomberg's latest survey indicates the Federal Reserve's core inflation measure will stay elevated, likely keeping interest rates high into 2024. The core index is expected to be 2.5% by end of 2024, suggesting a prolonged period of tight monetary policy. Overall inflation is projected to decline, but economic growth is forecasted to slow, with a peak unemployment rate of 4.4%. The survey, conducted between Nov. 17-22, included 73 economists.

The German hyperinflation after World War I exemplifies the perils of excessive government control over currency. Initially, to fund war efforts, Germany removed the mark from the gold standard, triggering massive inflation. Post-war, efforts to manage reparations and increased spending further escalated the crisis, leading to skyrocketing inflation. This case illustrates the dangers when central banks fund government deficits, as seen with the Federal Reserve's actions during the Covid crisis. The key lesson is the need for a separation between government and money to avoid hyperinflationary […]

The U.S. dollar's status as the world's reserve currency is waning due to various factors, including recent sanctions against Russia and global dissatisfaction with U.S. monetary policy. Countries like Brazil, Argentina, Bangladesh, and India are exploring alternatives like the Chinese yuan and Bitcoin for trade and payments. The dominance of the U.S. in global finance and trade, combined with the strong dollar's impact on emerging economies, is prompting a shift away from dollar dependency. Additionally, changes in global oil trade and strained U.S.-Saudi relations could further erode the […]

The "Inflation Reduction Act," focused on green energy, is expected to cause Medicare insurance premiums to surge by 42-57% in 2024. Despite aiming to lower healthcare costs, the Act may significantly increase Part D premiums for most enrollees. Reports predict steep hikes in states with large senior populations, contrary to earlier projections of premium declines. This could impose a considerable financial strain on retirees dependent on Medicare's Part D coverage.

New home sales in the U.S. housing market fell more than expected in October, dropping 5.6% month-over-month. This decline comes amidst the lowest housing affordability since the early 1980s and a significant fall in home-purchase applications. The median new home price also decreased by 17.6% year-over-year. This trend raises concerns about Federal Reserve policies impacting housing affordability and the middle class's wealth.