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The mainstream media trumpeted the latest data on housing starts as good news for the economy, but there is a dark side they aren’t talking much about. Reuters reports housing starts rose more than expected in September, driven by high demand for rental units. Groundbreaking increased 6.5% to a seasonally adjusted annual pace of 1.21 […]
A Chinese bank will soon join the London Bullion Market Associations (LBMA) silver price-setting process. According to a Reuters report, China Construction Bank signed a memorandum of understanding with CME Group. It will join HSBC, JPMorgan Chase, Mitsui & Co Precious Metals, Bank of Nova Scotia – ScotiaMocatta, Toronto Dominion Bank, and UBS in taking […]
Irwin Schiff passed away on Friday, chained to his hospital bed. In this tribute to his life, Peter Schiff shares his personal thoughts about his father, a true American hero. My father, Irwin A. Schiff, was born Feb. 23rd 1928, the 8th child and only son of Jewish immigrants, who had crossed the Atlantic twenty […]
The Chinese central bank continues to increase its gold holdings at a steady pace. Figures released by the People’s Bank of China indicate its gold stash went up another 1% in September, according to a Reuters report: Gold reserves rose by 480,000 fine troy ounces, or 14.9 tons, to 54.93 million ounces, or 1,708.5 tons […]
Wal-Mart’s problems may well reflect deeper issues in the US economy. The giant retailer announced Wednesday that profits could drop as much a 12% in the next year. It’s stock plummeted 10% on the news. Company officials also warned they now expect sales growth for the current fiscal year to be flat. In February, the […]
The price of gold is rallying on growing uncertainly about a Federal Reserve interest rate hike and fears companies may disappoint already low expectations with third quarter earnings reports. No wonder billionaire Paul Singer said every investor should buy gold. According to a Bloomberg report, Singer criticized monetary policy makers for a “staggered economic recovery” […]
If the Federal Reserve is truly “data dependent,” then the data just keeps undermining its case for an interest rate hike this year. Wholesale inventories rose in August, and sales fell, flashing a recessionary warning sign. According to the Associated Press, the Commerce Department reported wholesale inventories rose 0.1% in August, while sales fell a […]
Investors are well-aware of the numerous industrial applications for silver, and it often factors into analysis of the white metal’s demand. But gold also has industrial applications. And while investment and jewelry primarily drive the demand for gold, its use in industrial applications continues to expand, representing a growing market for the precious metal. Gold […]
China, along with other central banks, are selling US government bonds at the fastest rate on record, according to the Wall Street Journal. WSJ calls it “a dramatic shift” in the bond market: Foreign official net sales of U.S. Treasury debt maturing in at least a year hit $123 billion in the 12 months ended in […]
