Jim, Evan and Phil discuss the latest happenings in the Middle Kingdom and around the globe.1:17 The People's Republic of Debt3:17 Zombie bond market for zombie companies7:10 ECB scorns tariffs, buys bonds13:09 The perils of social mediaJames "Jim" Grant is an American writer and publisher and the founder of Grant's Interest Rate Observer, a twice-monthly journal of the financial markets. He is th...Read More
By Frank HolmesStrengths? The best performing metal this week was silver, up 0.43 percent as hedge funds cut their bearish outlook. After mostly bearish opinions last week, gold traders are leaning more bullish this week on the yellow metal's performance. BullionVault's Gold Investor Index rose last month to 54.1, up from 52.7 the prior month, when it was at the lowest level sinc...Read More
The bull market is turning 9 years old. Had we known we would have baked a cake. It is now the longest running bull market in history! What could possibly go wrong. The tree will surely grow to the sky. And as if that wasn't enough, corporate debt levels are surging. But don't worry, this time is really different because it's not being held by big banks, ETF's and pension funds will be left holdin...Read More
Steel producers in Russia have increased their offers to the domestic markets for April-production hot-rolled (HR) and cold-rolled (CR) sheet, Metal Bulletin has been told.Metal Bulletin's weekly assessment of the price for Russian 4mm HR sheet was 43,000-45,000 roubles ($759-794) per tonne cpt Moscow, including VAT, on Monday March 12, widening upward from 43,000 roubles per tonne a week earlier....Read More
David Stockman on "Fast Money Halftime Report" (CNBC, March 12, 2018)David Stockman is a former Republican congressman from Michigan and was President Reagan's budget director from 1981 to 1985. After leaving the White House, Stockman became a managing director at Salomon Brothers, and he later founded a private equity fund. David is the founder of David Stockman's Contra Corner, and he is the aut...Read More
Exporters of hot-rolled coil (HRC) and cold-rolled coil (CRC) from the Commonwealth of Independent States continued to be in bullish mood in the week ended Monday March 12, despite a rapid price decline for China-origin material.Metal Bulletin's weekly price assessment for CIS-origin HRC exports was $610-625 per tonne fob Black Sea on March 12, narrowing upward from $590-625 per tonne fob Black Se...Read More
By Keith WeinerThink back to the halcyon days of the dot com boom. This was a time after Greenspan declared "irrational exuberance". Long Term Capital Management collapsed in 1998, and Greenspan decided to risk propelling exuberance to a level beyond irrational. Super-duper-irrational exuberance?Anyway, Greenspan cut interest rates a few times in late 1998. Technology companies were able to rais...Read More
Posted: Mar 12, 2018JK: Discovery Watch Mar 12, 2018 with Jim Goddard and John KaiserPublished: Mar 12, 2018HSC: Discovery Watch Mar 12, 2018: Old vs New Guard at ColoradoDiscovery Watch is a weekly 15-20 minute audio show sponsored by HoweStreet.com where Jim Goddard interviews John Kaiser about resource juniors with interesting exploration plays that have caught John's attention. The projects wi...Read More
TOPICS IN THIS INTERVIEW:01:25 Jim Willie's predictions for 201810:35 Death blow of the US Dollar15:00 What happens to Gold and Silver26:05 The transition and adjustment of world reserve currencies33:05 Gold suppression and rise in the Swiss currency36:05 Is Bitcoin a solution to the economic problems?Jim Willie is a statistical analyst in marketing research and retail forecasting. He holds a PhD...Read More
Listen to the Podcast Audio: Click HereMike Gleason: It is my privilege now to welcome in Gerald Celente, publisher of the renowned Trends Journal. Mr. Celente is perhaps the most well-known trends forecaster in the world and it's always great to have him on with us.Mr. Celente, thanks again for the time today and welcome back.Gerald Celente: Oh, it's always great being on. Thank you.Mike Gl...Read More
Import prices for re-rolling-grade hot-rolled coil sold into Vietnam dropped this week after traders lowered their offers amid China's weakening 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 $630-640 per tonne cfr for the week ended Monday March 12, down $5-10 per tonne...Read More
By John MauldinLabor 2030Surplus WorkersWealth Tax ComingHome Again, Home Again, Jiggity-JigWe've just wrapped the Strategic Investment Conference, which in many ways is the best week of my year. Seeing so many old friends, making new ones, and having countless fascinating conversations is my idea of heaven.On the other hand, this particular heaven is also exhausting. I've been running at full p...Read More
Recently Brittany Pettibone and Martin Sellner were detained when attempting enter the United Kingdom and held for an extended period of time as they awaited deportation. Sellner had been invited to give a speech by UKIP youth wing Young Independence and Pettibone had plans of interviewing Tommy Robinson - but both were prohibited from entering the country. Read More
By Avi GilburtDo you think we will ever see a week of market moves associated with news events for which you will not shake your head?Week after week I think analysts say something so stupid that I just want to scream. As I have pointed out so many times over the years, I keep hoping that some form of sanity will grip pundits one day. I keep hoping that they may wake up and recognize the error o...Read More
CloseGain/LossGold $1323.70+$0.20Silver$16.55-$0.03XAU79.67+0.98%HUI174.41+0.86%GDM607.04+0.60%JSE Gold1105.94-20.68USD89.88-0.25Euro123.42+0.34Yen94.06+0.37Oil$61.36-$0.6810-Year2.867%-0.030T-Bond144.75+0.59375Dow25178.61-0.62%Nasdaq7588.32+0.36%S&P2783.02-0.13% The Metals: Gold fell $9.10 to $1314.40 at about 8AM EST, but it then rallied back higher throughout most of t...Read More
Italian long steelmaker Pittini has completed the acquisition of the "commercial and logistic facilities" at compatriot steelmaker Ori Martin's Ceprano rebar mill in central Italy, a spokesman confirmed to Metal Bulletin on Monday March 12."The [distribution] center will work in synergy with our other Italian plants in Potenza [in southern Italy], Osoppo, Verona and Nave [in northern Italy]," the...Read More
Inthe free analysis that we posted lastMonday,we warned that Friday’s session was likely to be volatile and tricky. Thisseems to have indeed been the case for silver. The white metal declined earlyin the day only to rally almost 40 cents from the initial low. In our previousalert, we discussed the possibility of silver topping at about $16.65 and thislevel was reached. Is silver about to tak...Read More
- Recent stock market selloff showed gold can deliver returns and reduce portfolio risk- Gold's performance during stock market selloff was consistent with historical behaviour- Gold up nearly 10% in last year but performance during recent selloff was short-lived- The stronger the market pullback, the stronger gold's rally- WGC: 'a good time for investors to consider including or adding gold as...Read More
Kuwait's ministry of finance has increased the duty applied to imports of rebar to 10% from the previous 5%, effective from March 1 this year until the end of February 2019, Metal Bulletin has heard.There is only one rebar producer active in Kuwait, KWT Steel, with capacity for 1.2 million...Read More