IMF’s Kristalina Georgieva said, “…this is not the time to turn back. The public sector should keep preparing to deploy central bank digital currencies …” “We have not yet reached land. There is so much more space for innovation and so much uncertainty over use-cases,” said Georgieva, managing director of the IMF at the Singapore […]
Moody’s lowered its US credit outlook on Friday to “negative,” signaling a possible downgrade in the future. The ratings agency cited ballooning deficits and political dysfunction. Gross interest on Treasury debt securities jumped 87% from a year ago, fresh data showed. Interest payments reached $88.9 billion last month, as the government finances higher deficit spending.
US Debt Interest Costs Skyrocket 87% as New Federal Fiscal Year Begins Read More »
“In the context of higher interest rates, without effective fiscal policy measures to reduce government spending or increase revenues, Moody’s expects that the US’ fiscal deficits will remain very large, significantly weakening debt affordability.” “Continued political polarization within U.S. Congress raises the risk that successive governments will not be able to reach consensus on a
US Credit Rating Outlook Lowered to ‘Negative’ by Moody’s as Shutdown Looms Read More »
China topped up its gold holdings for a 12th straight month in October, adding to a wave of purchases by global central banks that’s lent support to bullion prices. Stockpiles of gold reported by the People’s Bank of China rose by about 740,000 troy ounces in October, according to official data released Tuesday. That’s equivalent
China Extends Run of Gold Buying That’s Helped Support Prices Read More »
The green energy revolution is here to stay, and it will likely have significant impacts on the silver market moving forward. Silver is expected to play a significant role as the “green economy” evolves. The Silver Institute recently participated in a panel discussion titled “Silver’s Role in the Green Economy” at the London Bullion Market Association’s
“Green Economy” Expected to Boost Silver Demand and Other Silver News Read More »
The Treasury is on track to borrow over $3 trillion this fiscal year, 50 percent more than previously estimated by the Congressional Budget Office. Bidenomics, perhaps best defined as the government spending, borrowing, and printing too much money, not only made the bomb larger but also caused inflation, which forced up interest rates. That was the
The Fuse on America’s Debt Bomb Just Got Shorter Read More »
The BRICS Currency linked to a basket of commodities could offer stability and attractiveness that could outshine established currencies like the dollar. The presence of a stable alternative to the US dollar could lead to a reevaluation of global economic dependencies and power structures. According to Glazyev, the BRICS currency, which is near completion and
Why BRICS Currency Would Outshine the US Dollar Read More »
While geopolitical uncertainty is important for gold, there are other factors we need to pay attention to: growing fears of a credit event leading to a recession. The chaos in the Middle East caused by the Israel-Hamas war is providing solid momentum for gold but there is more going on in the market than just
The Gold Market to Jay Powell: ‘Bring It On’ Read More »
Here are some historical examples. The 1980s S&L crisis, Black Monday in 1987, The 2000 dot-com crash, & 08 Financial… A study published in May of rate increases for 17 developed countries over 150 years concluded that “monetary policy rate hikes that were preceded by a series of cuts (or a long period of low
With Interest Rates Up, Get Ready for Financial Drama Read More »
Jamie Dimon said, “I want to point out the central banks 18 months ago were 100% dead wrong,” he added, “I would be quite cautious about what might happen next year….” The last time US government bond yields climbed so far, so fast, the nation plunged into back-to-back recessions. The Fed’s record of predicting recessions
Nation’s Largest Commercial Banker Blasts World’s Largest Central Banker Read More »
