With elections due across Europe and a referendum in Italy, the establishment fears political tremors
Dogged by the migration crisis and the traumatic business of Brexit – to name just two current, existential challenges to their project –
Donald Trump
As we reported first thing this morning, one of the burning questions troubling Wall Street at this moment, is whether president elect Donald Trump plans on reshuffling the Fed, eliminating its so-called "independent" and perhaps going so far as firing or "requesting" Janet Yellen's resignation.
As investors await the outcome of tomorrow’s election, a former associate of George Soros just warned King World News about what is going “to send the world into total chaos.”
Background
The next ten days or so will present gold with two major events both of which could impact on gold in different ways depending on their particular outcome and they are as follows:
1. Possible interest rate hikes in the US as the FOMC meet
2. The US Presidential Election
FOMC
The long shadow of interest rate hikes in the US has haunted the precious metals sector for the last two years and is possibly the most important single threat to gold continuing its rally.
John Ing
The $100 Overnight Gold Spike
Mr. Trump blames the Fed for creating a “false stock market”, believing that the low interest rate policies engineered by the Fed has not revived real growth but instead created a “false economy”
Politics
As the final presidential debate looms one wonders if we will hear anything of substance or be subjected to a continuous barrage of ‘soap opera’ style chit chat. Hilary Clinton’s lead is increasing according to the bookies with the latest odds at 1/5 and Donald Trump at 9/2. The sooner this is over the better for all of us as the uncertainty will have been removed and we can get back to business as usual. Whatever the result both candidates are big spenders and so we can expect many more dollars to be printed which will help support gold in dollar terms. However we should also be cognoscente of the fact that the other major currencies are all in dire straits, the Yen, Euro and British pound are all looking weak, which in turn is supportive of the dollar, rendering the dollar as the best looking horse in the glue factory, as they say.
The bond vigilantes are sharpening their knives. The last five trading sessions have seen a sudden and potentially ominous shift in the reflexes of the Gilts market,
BY EUGEN VON BÖHM-BAWERKON OCTOBER 15, 2016
One year ago we showed the following chart to explain the relative strong dollar that was on everyone’s mind at the time. With a second leg higher in the US dollar imminent, this particular chart will be more important than ever.
Back in April, precious metal traders felt vindicated when Deutsche Bank agreed to settle a July 2014 lawsuit alleging precious metal manipulation by a consortium of banks. As a reminder, In July 2014 we reported that a group of silver bullion banks including Deutsche Bank, Bank of Nova Scotia and HSBC (later UBS was also added to the defendants) were accused of manipulating prices in the multi-billion dollar market. The lawsuit,
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Sunday, November 13, 2016 at 07:59PM