SHANGHAI, Apr 19 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar inched up slightly overnight, buoyed by the rise in US treasury yield rate and the upbeat economic growth.Base metals rose across the board. LME aluminium hit a fresh high since August 2011 with a 5.7% increase. LME nickel surged close to 7% and hit a three-ye...Read More
Cornflakes and milk may or may not be getting more expensive, but some higher-profile things are rocking like it's 1979. Houses, for example:Continue...Read More
There's a new financial system on its way. No one is exactly sure what it's going to look like, but rest assured it's coming soon to a central bank near you. It might involve the SDR or perhaps Cryptos or something else entirely. It's just part of our economic evolution. All systems eventually perish due to excessive debt and this one is getting there real fast. How much longer will it be? No one...Read More
Saturday last we offended the pieties.We reckoned that democracies - being shortsighted - tend toward vast accumulations of debt.In response, reader Tom B. dealt with us as follows:The committed ignorance of pseudointellectual arrogance and their refusal to take an economics class on the uses of the FIAT dollar is stunning! It's the reason Warren Buffet [sic] smiles every time "financial experts"...Read More
Earlier this week, we talked about Social Security and Medicare taxes ... including how much of your income they eat up.But just as a reminder: Social Security alone takes 12.4% of every American's income up to a total limit of $15,921.60 in 2018.That's a lot of money.Of course, many people are okay with the whole process because they expect to collect back out of the system when they retire.There...Read More
Why do publicly traded companies have a Board of Directors?The answer is to represent and protect the interests of the shareholders who collectively own that company.A key responsibility of the Board is appointing a CEO to run the company for shareholders and then monitoring the job that the CEO does.Unfortunately, quite often the Boards of our publicly traded companies act as little more than ...Read More
John Williams of Shadowstats.com, a leading online alternative economic-resource sees the potential for an explosive move in the PMs sector/commodities.According to Shadowstats, the official inflation numbers are significantly understated - consumers are being robbed as the pace of price increases exceeds wages.Shadowstats finds that the GDP is slowing at a rapid clip, which will be reflected in n...Read More
"This exposure was not the result of a clever hack, or well-planned scheme, but of a simple misconfiguration of an enterprise asset- an S3 storage bucket- which left theContinue...Read More
HighlightsErik is CEO of the instant Bitcoin and altcoin exchange, ShapeShift.io, a groundbreaking coin / token service that facilitates quick and virtually free exchange of nearly any cryptocurrency. A Bitcoin holder who wishes to convert BTC for Litecoin or any other currency, can do so online without the hassle or invasiveness of setting up a personal / business account. ShapeShift.io does no...Read More
By Ira EpsteinHigher move in US Dollar weighs on gold prices.http://iraepstein.com/ Read More
Argentina's Deputy Secretary of Mining Policy, Mario Capello, said today that both the federal and the provincial governments have to work together towards relaxing the Glacier Law so that it becomes easier to develop Patagonia's massive copper deposits.According to the state-owned news agency T?(C)lam, Capello said that such deposits have the potential for producing 1 million tonnes of the red me...Read More
(Reuters) - Morgan Stanley (MS.N) reported record first-quarter profit on Wednesday thanks to a surge in trading activity, much like other Wall Street banks, but executives warned results through the rest of the year may not be quite as strong.Capital markets flourished during the first few months of 2018 as major economies expanded around the globe and U.S. interest rates rose, with bouts of vola...Read More
Goldprices traded higher on the day, although theywere limited by a stronger U.S. dollar. The same cannot be said for silver and palladium. Although goldgained 0.21% on the day, those gains were dwarfed in comparison to silver’s2.43% and palladium’s 2.11% daily gain today.Silveropened above its 200-day moving average for the first time since February 1 ofthis year. Although, in the cas...Read More
REYKJAVIK (Reuters) - An Icelandic man arrested on suspicion of stealing about 600 computers used to mine the cryptocurrency Bitcoin escaped prison and fled the country on a commercial flight to Sweden, Icelandic state broadcaster RUV said on Wednesday.The same Icelandair flight was also taking Icelandic Prime Minister Katrin Jakobsdottir to a meeting with Indian Prime Minister Narendra Modi in St...Read More
WASHINGTON (Reuters) - The United States hopes to reach a deal on the revamped North American Free Trade Agreement with Mexico and Canada over the next three weeks, CNBC reported on Wednesday.Congressional aides and industry executives who have been briefed by the Trump administration told the cable news channel there was a targeted timeline. Top officials from the three countries were holding mee...Read More
Proctor & Gamble, Philip Morris report dissapointing earningsTreasury yields rise above 2.9 percent; dollar advancesLori Heinel of State Street Global Advisors, and Bloomberg Intelligence's Andrew Cosgrove, discuss metals prices.U.S. stocks fell for the first time in four days as technology shares came under pressure from trade and earnings concerns. Treasuries hit the lowest since February amid a...Read More
PALM BEACH, Fla. (Reuters) - President Donald Trump struck a hopeful note about U.S. trade with Japan on Wednesday at a lunch with the Asian nation’s prime minister, Shinzo Abe, saying he thought the United States would soon be able to trim its trade deficit with the country.“We have a very big deficit and we’re going to weed that down, hopefully get our balance at some point in...Read More
Jonathan SpicerNEW YORK (Reuters) - After a decade of ultra loose policy, the Federal Reserve will likely raise interest rates to a “slightly restrictive” setting in the years ahead as unemployment falls and inflation ticks higher, an influential outgoing Fed official said on Wednesday.New York Fed President William Dudley said he was among the U.S. central bankers last month to mark u...Read More
Sixteen miners are trapped inside a gold mine in Colombia following the collapse of the quarry's entrance. The mine is located in the municipality of Marmato, which belongs to the northwestern Caldas province. The miners are said to be in good health and they are supposed to have enough air to breathe. The regional Department of Risk Management, Environment and Climate Change made public the infor...Read More