“World On Verge Of Spinning Out Of Control”

Financial writer John Rubino says gold is at new all-time highs, silver is vaulting upward and there is no end in sight for the massive money printing around the world.  Rubino say’s if you look deeper, you can see the “real message” in the unfolding events.  Rubino explains, “It’s fun to be a gold bug and see…

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It’s Happening Again… Investors Dump Everything ‘China’

Global stock markets plunged Friday as tensions between the US and China spiral out of control.  Stocks in Hong Kong and mainland China tumbled after Beijing ordered Washington to cease all operations at its consulate in the city of Chengdu. This came days after Washington ordered the Chinese consulate in Houston, Texas, to close.  Investors are becoming fearful the tit-for-tat spat between the US and China will…

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WTI Holds Losses As US Distillates Stocks Reach 38-Year Highs

Oil prices are lower overnight after a surprisingly large crude inventory build reported by API. The energy complex was not helped by comments by President Trump that the COVID-19 outbreak in the U.S. will probably worsen before improving. “Everything seemed to rise in the commodity world yesterday as part of the reflation trade,” said Giovanni Staunovo, an analyst at UBS…

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Banks Brace For A Historic Crash With Record Loss Provisions

For many years after the financial crisis, US commercial banks were mocked when instead of generating earnings the old-fashioned way, by collecting the interest arb on loans they had made, or even by frontrunning the Fed with their prop (and flow) trading desks, they would “earn” their way to just above consensus estimates by releasing…

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Another Iconic Deflationist Capitulates: According To Russell Napier, “Control Of Money Supply Has Permanently Left The Hands Of Central Bankers

One by one the world’s legendary deflationists are taking one look at the following chart of the global money supply (as shown most recently by DB’s Jim Reid) and after seeing the clear determination of central banks to spark a global inflationary conflagration, are quietly (and not so quietly) capitulating. One month ago it was SocGen’s Albert…

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