Fed’s official statement released yesterday Received by the market as hawkish, Fed is still reiterates “patience” The statement noted unguarded optimism about the U.S. Economy Fed ignored unstable markets, Europe, oil prices and strength of the dollar Response: the market sold off and the dollar rallied Gold declined on Fed’s expectations The Fed’s underlying goal […]
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A Dove in Hawk’s Clothing – Ep. 49 Read More »
Wall Street spared blizzard only to be buried in bad earnings and bad economic news December durable goods down 3.4%; expected to come in at +.7 Consumer confidence up to 102.9; contrarian indicator Last time consumers were this confident was in the middle of 2007 Number will collapse when reality has a violent confrontation with perception
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Weak Earnings and Bad Economic Data Pummel Stocks – Ep. 48 Read More »
The President is taking credit for an economic recovery that is a bubble created by the Fed Obama voters’ salaries are much lower now than when he was elected We have fewer full-time jobs during Obama presidency Obama is offering freebies to the middle class, promising to tax the “wealthy” Getting money that you didn’t
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Obama Misstate of the Union – Ep. 47 Read More »
Big action from the Central Banks this week Bank of Canada lowered rates from 1% to .75% The ECB announced the launch of first QE program The Euro plunged against gold Central Banks’ goal is to raise the level of inflation to guard against falling prices Falling prices accelerate economic activity Regulations and taxes slow
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Central Banks Wage War Against Low Prices – Ep. 46 Read More »
Biggest 7-day surge in Gold prices since 2011 U.S. GDP will be lower than in Canada this year Canadian gold production will rise in 2015 Gold is rising against most currencies except the Swiss Franc The IMF still believes the U.S. economy is recovering Outlook for gold in Australia is also positive The Yuan will
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Gold Rally Continues, Yuan/Dollar Peg Explained – Ep. 45 Read More »
If anyone had any doubt how severely the global economy has been distorted by the actions of central bankers, the “surprise” announcement last week by the Swiss National Bank (SNB) to no longer peg the Swiss franc to the euro should provide a moment of crystal clarity. The decision sent the franc up almost 30%
Switzerland Wins As Its Central Bank Surrenders Read More »
Thursday, January 15, will be remembered as the day Switzerland abandoned its peg to the Euro The Swiss defended their policy to peg to the Euro, but suddenly reversed, limiting their losses They admitted they were wrong Although the Swiss stock market went down in their currency, it was up in every other currency Gold
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Will China Pull a “Switzerland” on the U.S. Dollar? Read More »
The Swiss people have given up the inflation ghost to win the currency war Media reports negative on the news: “silly decision” Oil down against the Swiss Franc Swiss stocks up in U.S. dollars Wall Street expects Eurozone QE, but without Swiss, QE might be less likely Gold up against other currencies Franc surging in
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Switzerland Loses Currency War Swiss Win – Ep. 44 Read More »
Below, please find a short statement from Peter Schiff, CEO & Chief Global Strategist of Euro Pacific Capital. Feel free to excerpt. To speak with Mr. Schiff directly about anything in this statement, please contact aschiff@europac.net. By ending its three year currency peg to the weakening euro Switzerland has become the first major economy to
Swiss Surrender Wins Currency War Read More »
Dow down 600 points in between Tuesday high and Wednesday low Stock market and real estate are pillars of the phony recovery Loose government lending standards encouraging mortgage defaults Dollar down and gold up on low retail sales numbers Fed not likely to sit out a U.S. recession, trading support for Wall Street over the
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Denial Runs Deep From Wall Street To Bitcoin – Ep 43 Read More »
