Gary Cohn resigned as President Donald Trump's Chief Economic Advisor on March 6th. He and Trump didn't see eye to eye on the recently imposed tariffs and the President selected CNBC commentator Larry Kudlow to replace him Wednesday. Perhaps it was Kudlow's experience on television that got him the job.It doesn't look like he was chosen for his intellectual honesty. Kudlow was quite vocal with his...Read More
WASHINGTON (Reuters) - White House lawyer Ty Cobb said on Sunday that President Donald Trump was not considering or discussing firing Special Counsel Robert Mueller.Cobb’s statement came after Trump earlier in the day criticized Mueller’s probe into Russian meddling in the 2016 presidential election.“In response to media speculation and related questions being posed to the admini...Read More
Analysts expect TSLA to fall more than 30% A nasty sell-off in tech stocks is dominating U.S. markets today. Among individual names making notable moves are electric automaker Tesla Inc (NASDAQ:TSLA), drug stock Heron Therapeutics Inc (NASDAQ:HRTX), and software issue Micro Focus International (NYSE:MFGP). Here's a quick look at what's driving shares of TSLA, HRTX, and MFGP. TSLA Stock Breaches...Read More
Rates are rising once again.Over 90% of investors focus almost exclusively on stocks. This is a mistake. The reality is that everything happening in stocks since 2008 has been the direct result of Central Banks creating a bubble in bonds.Because our current financial system is debt-based in nature (meaning sovereign debt, not gold or some other asset is the bedrock of the financial system) when Ce...Read More
The Problem With The TSX Venture ExchangeTo start, take a look at the chart I have posted below and tell me that is not a great-looking chart. It is the chart of the TSX Venture Exchange, the exchange that has financed a great many of the world's biggest discoveries. Up until the late 90's, it was the #1 "gunslinger" exchange in the world but relinquished that honour to the NASDAQ on April 1, 1997...Read More
(Kitco News) - Gold prices are trading slightly up and near their dailyhighs in late-morning action Monday. The yellow metal moved higher as the U.S. dollar index dropped to its daily low. Weaker U.S. stock index prices today arealso working in favor of the precious metals market bulls. Aprilgold was lastup $1.00 an ounce at $1,313.40. By Jim Wyckoff For Kitco NewsFollow @jimwyckoffjwyckoff@kitco....Read More
All three financial stocks sport attractively priced optionsBank stocks could be in focus this week, with the Fed expected to raise interest rates at its meeting. Ahead of the event, a pair of American financial stocks are flashing "buy" signals: Huntington Bancshares Incorporated (NASDAQ:HBAN) and Zions Bancorp (NASDAQ:ZION). What's more, British-backed financial concern Royal Bank of Scotland Gr...Read More
Competition in the export markets for hot-rolled coil (HRC) and cold-rolled coil (CRC) from the Commonwealth of Independent States has been intense over the past week, because suppliers preferred to hold back their offers despite a continued price decline for China-origin material.Metal Bulletin's weekly price assessment for CIS-origin HRC exports was $605-625 per tonne fob Black Sea on Monday Mar...Read More
Dear Friend of GATA and Gold:Gold researcher Ronan Manly's detailed report for Russia Today on the history and mechanisms of gold price suppression by central banks, called to your attention by GATA a few hours ago --http://gata.org/node/18112-- has been quickly reprinted by the Daily Sabah, a major newspaper in Istanbul, Turkey, that is published in English, German, Arabic, and Russian:https://...Read More
Rates are rising once again.Over 90% of investors focus almost exclusively on stocks. This is a mistake. The reality is that everything happening in stocks since 2008 has been the direct result of Central Banks creating a bubble in bonds.Because our current financial system is debt-based in nature (meaning sovereign debt, not gold or some other asset is the bedrock of the financial system) when Ce...Read More
We will take another break from capital destruction, to treat a topic which has come up this week. On March 11, we said:"...central bankers do not think about gold.Granted, they once did. In the 1960's, there was the now-infamous London Gold Pool to keep the price of gold at $35. This is endlessly cited as evidence of current central bank price suppression, without bothering to mention that until...Read More
TECHNICAL SCOOPCharts and commentary by David ChapmanPhone: 416-523-5454 Email: david@davidchapman.comTwitter: @Davcha12March 19, 2018"Some debts are fun when you are acquiring them, but none are fun when you set about retiring them." Ogden Nash "I'm in debt. I am a true American." Balki Bartokomous Debt is in the news again. Did it ever leave? The Bank for International Settlements (BIS), th...Read More
Alio Gold Inc. (TSX: ALO; NYSE AMERICAN: ALO)will acquire Nevada-based producer Rye Patch Gold Corp. (TSXV: RPM) under anagreement announced Monday. Each common share of Rye Patch will be exchangedfor 0.48 share of Alio Gold, with the offer implying C$1.57 per Rye Patchshare, a 35% premium to Rye Patch shareholders, based on the 20-dayvolume-weighted average trading price of Alio Gold shares...Read More
The stock's short-term options are attractively priced at the momentTapestry Inc (NYSE:TPR) stock has been on a tear lately, racing to a four-year high of $53.50 last Tuesday. If past is precedent, shares of the retail name -- which changed its name from Coach after its purchase of Kate Spade in October -- could be gearing up for their next leg higher in the coming months. In today's trading, Tap...Read More
So many patterns that have held for decades seem to have broken down, leading to one of two conclusions: Either this time really is different in ways that appear to violate what used to be seen as iron-clad laws of finance, or those laws have been bent but will reassert themselves with a vengeance sometime in the future. The latest example is the relationship between corporate debt and default r...Read More
Import prices for re-rolling-grade hot-rolled coil sold into Vietnam continued to fall over the past week amid a weakening of the Chinese steel market.Metal Bulletin's assessment of HRC import prices in Southeast Asia - which mainly looks at Chinese 2-3mm SAE1006 HRC and equivalent grades sold into Vietnam - was $615-635 per tonne for the week ended Monday March 19, down $5-15 per tonne from a wee...Read More
The Bonds segment of NFTRH 491 took a turn to tin foil territory to allow the letter writer to expose newer subscribers to his ideological views and thus, bias. #491 also got pretty talky on the precious metals as it did a thorough review of the sector's status, with silver's symmetry to 2016 a very key item. Hint: An ill-fated bounce like so many that have come after the 2016 top is not what we a...Read More
By Clint SiegnerGary Cohn resigned as President Donald Trump's Chief Economic Advisor on March 6th. He and Trump didn't see eye to eye on the recently imposed tariffs and the President selected CNBC commentator Larry Kudlow to replace him Wednesday. Perhaps it was Kudlow's experience on television that got him the job.It doesn't look like he was chosen for his intellectual honesty. Kudlow was qu...Read More
BEIJING (Reuters) - China elevated a key confidante of President Xi Jinping to one of the top positions in government on Monday as Beijing cracks down on riskier financing and a debt build-up that may pose systemic risks to the world’s second-largest economy.The endorsement of Liu He as a vice premier by the country’s largely rubber-stamp parliament also comes as the United States pres...Read More
FB stock is pacing for its biggest one-day drop in yearsThe U.S. stock market is spiraling today, with sharp drops in the tech sector fueling the risk-off session. FAANG stocks are bringing the most heat, with Facebook (FB) pacing for its biggest one-day loss since March 2014 on reports of data harvesting, while Apple (AAPL) is selling off after Nomura Instinet expressed concern over iPhone demand...Read More