You may be asking yourself, did the central banks ever control the gold market? Yes, indeed they did! The gold Standard was the ultimate system of control they had until it was dropped. Then President Roosevelt’s Administration took control of the U.S. gold market when he confiscated all U.S. citizens held gold. Ownership of gold was only re-permitted in the early seventies.
Real GDP grew at an annual rate of 1.7% in the second quarter vs. the preliminary estimate of 1.6%. The 2.2% growth in consumer spending represents an upward revision from the earlier estimate of a 2.0% gain. The strength came from an upward revision of consumer outlays on...
Anyone who reads a newspaper, speaks with their family or associates or has tuned into mainstream financial television over the past 3 years is acutely aware that “things” are not right. So, in a financial sense, what is it that really ails us?
Long ago, before economic models developed their current levels of sophistication, it used to be that the goal of a government's economic policy was to bring prosperity to its citizens; in other words, to raise the general level of material comfort, while at the same time reducing the amount of toil required to attain that end...
Base metal prices took a big hit from the financial crisis but many of the metals are now seeing their shine return. Since late 2008, copper has experienced the strongest rebound (up 137 percent through mid-September) followed by nickel and lead.
Recently, I stumbled on an interesting Gallup poll from a few months ago. The respondents were asked, “Which of the following do you think is the best long-term investment?” Here are the results...
The U.S. and Major Eurozone Nations’ Debts are so substantial that no reasonable level of taxation can possibly pay them. Therefore, they will likely be “paid” through “Stealth” Currency Debasement via Overt Quantitative Easing.
Wednesday the market didn’t tell us anything new. The equities market is still over extended on the daily chart but the market is refusing to break down. Each time there has been seen selling in the market over the past two weeks, the market recovers. Equities and the dollar have been trading with an inverse relationship and it seems to drop every in value each selling pressure enters the market, which naturally lifts stocks.
Since the market stock market crash in 2008 small investors have fled equities seeking the safety and stability of bonds. Two years later bond yields are at unheard of levels while equity yields on blue chips stand at levels not seen in decades. Investors would be best served heeding the warning signs and allocating cash to high quality blue chips.
