Ratings agency Fitch on Tuesday downgraded the U.S. government’s top credit rating to AA+ from AAA, citing an expected fiscal deterioration over the next three years as well as a high and growing general government debt burden. “In Fitch’s view, there has been a steady deterioration in standards of governance over the last 20 years, […]
Fitch Cuts US Credit Rating a Notch From AAA to AA+ Read More »
“There is no chance we’re having a soft landing in the context of the most pernicious tightening by the Fed since the Paul Volcker years,” Rosenberg says. It’s equally interesting to hear Dimon talk about how great things are when the pace of bank lending, in the aggregate, is heading towards negative territory on a
The BRICS bloc of countries are working on the creation of a new gold-backed currency that could potentially shift the global economic landscape. They seek to establish a currency partially backed by gold, challenging the US dollar’s dominance. How long this takes remains uncertain, the implications for savers and retirees in the US could be
The Dollar Failure: Challenges of a Shifting Global Reserve Currency Read More »
But experts say the new system could lay the groundwork for the infrastructure needed for a potential central bank digital currency (CBDC) in the U.S. “This is a payment system, not a digital token or a CBDC, but it is something that can be used to facilitate the creation of a CBDC,” said Jim Bianco,
Federal Reserve’s ‘FedNow’ Launch Triggers Fresh Speculation Over Digital Dollar Read More »
Silver gained strong upside momentum as gold/silver ratio declined from 84 to 78.50. The Fed may soon make its last rate hike in this cycle, so demand for precious metals could grow as traders prepare for future rate cuts. A combination of positive catalysts could push silver towards the $30 level. Falling gold/silver ratio, rising
Silver Price May Test $30 This Year Read More »
Central banks worldwide are buying more gold to protect themselves from high inflation and financial risks. The fear of sanctions similar to those imposed on Russia has prompted nations to bring their gold reserves back home. While paper-gold ETFs & miners have experienced significant outflows in recent years… demand for physical gold has surged pushing
Revival of Gold as Central Banks Bring their Gold Home Read More »
41% of surveyed central banks and sovereign funds expect to increase gold holdings in the next three years. Sweeping sanctions against Russia that expelled the country from the US dollar-dominated global financial system spooked other countries so much that they are now lining up backup currencies for trade. But central banks appear to be less willing
Gold has been gearing up for its breakout to $2,500 for the past 12 years, and it must now break the final resistance level to open up its “phenomenal” upside… “All it takes for gold is to break through this $2,070 level … From $1,920, gold can rally $600 in the next six to eight
The Fed’s interest rate hikes have already precipitated a financial crisis. The central bank created an economy that depends on artificially low interest rates and periodic quantitative easing. It simply can’t function in a high-interest-rate environment. An economist at the Fed – According to their analysis, more than one-third (37%) of non-financial US companies are in
Fed Economists Warn of Looming Disaster Due to High Interest Rates Read More »
Fed economists just rang the alarm on the historic percentage of distressed US companies. Around 37% of firms are in major trouble, which could worsen the fallout from the Fed’s rate hikes. Investment, employment, and economic activity could all take a significant hit, researchers said. (Markets Insider) Federal Reserve economists just said a historic surge
The Fed Thinks Catastrophe is Coming for US Businesses Read More »
