Gold prices have had a good start to 2017 and has made gains in the majority of currencies, building on the strong gains seen in 2016. So far in 2017, gold is 3.5% higher in dollars, 2.3% higher in euros and 4% higher in sterling.
Gold Annual Returns During First Four Years Of Obama Presidency – Goldprice.org
Increasing nerves regarding the Trump Presidency likely account for some of the gains. Although the fundamentals of the gold market remain strong even were Trump not becoming President of the United State of America.
A backdrop of financial repression and global currency debasement involving ultra loose monetary policies and near negative interest rates, a push for cashless society, a still massively indebted U.S. and global economy and still very fragile banking systems all bodes well for gold prices in the coming years – not too mention positive supply demand fundamental that is peak gold.
Trump is icing on the cake in this regard. While it is always best to fade short term noise about breaking news and the latest market developments, ignoring Trump in the White House as an investor is very much a case of trying to ignore a giant white elephant in a very small room.
We discuss the bull market in corruption. In the second half Max continues his interview with Tyson Slocum, Director of Public Citizen’s Energy Program, about Rex Tillerson, Trump’s pick for Secretary of State and what Trump’s domestic and foreign policy might look like.
Welcome to “everyone I disagree with works for Putin,” the UK version.
UK Labour leader Jeremy Corbyn sits on the polar opposite of the political spectrum in most respects from U.S. President elect Donald Trump, yet they are both being accused of the same blasphemy — wanting peace with Russia. Here’s what I’m talking about…
The global markets slumped on January 12, 2017 after a news conference by President-elect Donald Trump. Assets declined across the globe with European, Asian shares and S&P 500 futures all falling, while the dollar slumped against most currencies. The conference disappointed the institutional investors with reveals to very little details as to economic and trade plans. This element of uncertainty resulted in a major slump in US dollar trading after recovering from a three week low. Surprisingly even after so much market commotion …
Gold has rallied to $1,207/oz today as stocks globally have weakened after the first press conference of incoming President Trump turned into a bit of a debacle.
Gold prices made further gains today amid reduced focus on the Fed and speculation regarding their potential rate hikes and more focus on the next four years of the Trump Presidency.
The dollar declined alongside US Treasury bond yields, although U.S. stock indices were supported yesterday and remained buoyant. Declines in Asian and European bourses today have seen U.S. futures decline this morning and the dollar has seen further losses pushing gold higher in all currencies.
Gold is likely to be supported and should rise due to the ongoing Trump versus the U.S. intelligence agencies saga which worsened yesterday amid vicious claim and counter claim. These included salacious allegations of lewd sexual acts by Trump while in Moscow and the allegation that the incoming President is being blackmailed and controlled by Russia.
There would appear to be a tussle for power and supremacy between more hawkish elements in the intelligence agencies and the incoming President. The extremely adversarial public disagreement between an incoming President with senior members of the FBI and the CIA is absolutely unprecedented.
China’s financial regulators are reportedly seeking opinions on how to regulate the trading of bitcoin and have contacted the exchanges on the same. One of the proposed methods may include setting up a depository platform. Chinese exchange BTCC – one of three leading bitcoin trading platforms spoke to by the People’s Bank of China last Friday.
As my colleague Davefairtex observed recently, the paint isn’t quite dry on bitcoin and the expanding host of other cryptocurrencies. Initial enthusiasm for the latest cryptocurrency that’s going to eat bitcoin’s lunch generates outsized returns for early investors, but as glitches in the vision arise, the bubble of initial euphoria pops.
Differing visions of bitcoin’s future have divided its community of participants and miners, and hard forks have split other cryptocurrencies into competing camps.
Meanwhile, the spectre of outright bans on bitcoin and cryptocurrencies by nations such as China adds uncertainty to the entire sector. Many observers expect that China’s increasingly pervasive attempts to staunch the flow of capital out of China via capital controls will lead inevitably to strict limits on bitcoin or even a total ban on bitcoin transactions and mining in China.
Prince, RIP, owned gold bars worth just over $800,000 according to the statement filed in a Minnesota court last Friday.
At the time of his death, Prince had taken delivery of and had in his possession 67 gold bars, 10 ounce gold bars, valued at $836,166.70. That’s according to an asset inventory compiled by Bremer Trust released by the Carver County District Court, as first reported by the Minneapolis Star Tribune.
The release inventory showed that the “Purple Rain” singer had no stocks, bonds, or other financial assets, but did have a substantial amount of land, property, cash and gold bars.
Besides the gold bars, Prince also had “about $110,000 in four bank accounts, unclaimed property, capital credits and cash” according to the Minneapolis Star Tribune.
He also had a dozen tracts of land in Carver and Hennepin, Minnesota that have an estimated total value of $25.4 million.
The tweetings will continue until morale improves! We discuss the latest in the ongoing Trump tweetstorm driving corporations to announce new jobs and billions of dollars in investments – anything to stop Trump from tweeting about them. In the second half Max interviews Tyson Slocum, Director of Public Citizen’s Energy Program, about Rex Tillerson, Trump’s pick for Secretary of State.
U.S. intelligence agencies, like so many other national institutions, have lost nearly all credibility in the eyes of the American public. The list is long, but includes economists, politicians, the mainstream media, central bankers, the financial system, and a lot more. The loss in credibility is well deserved and has nothing to do with Russia. Rather, it’s a function of a disastrous 21st century outcome for U.S. citizens both at home and abroad. A result that was achieved under eight years of Republican rule and then eight years of Democratic rule. The results were the same whether a donkey or elephant was in charge, because the people determining policy behind the scenes never really changed (same economists, central bankers, intelligence officials, etc), and the people selling the catastrophic policies to the public definitely never changes (mainstream media and its worthless pundits).
Dear Self-Proclaimed “Progressive”: I love you, man, but it has become necessary to intervene in your self-destruction. Your ideological blinders and apologies for the Establishment’s Neocon-Neoliberal Empire are not just destroying your credibility, they’re destroying the nation and everywhere the Empire intervenes.
While you squandered your political capital defending zero-cost causes like “safe spaces on college campuses,” the Empire was busy killing, maiming and making refugees of women and children in Syria. President Obama and his Neocon crew (former Secretary Hillary Clinton included) aren’t fools; they rely on drones and proxy armies to do their dirty work.
Neoliberalism is the Establishment’s core ideology, and by supporting Bill Clinton and Barack Obama, you furthered, defended and rationalized the Empire’s neoliberal expansion and exploitation. Neoliberalism’s Big Lie is transforming everything into a market makes everyone richer.
The dirty little secret of Neoliberalism is that the markets it creates are rigged in favor of Elitist cronies.