From Von Greyerz: I agree with Von Greyerz. We have been over this scenario often, so I will spare you the long version. Basically every fiat currency in history (except the Pound which has lasted 1200 years but is not the same monetary object it was at inception), has been
$1 trillion a year just to keep AI running. $40 billion in profit to cover the bill. That staggering gap is exactly what is driving the current debate over whether we are in an AI supercycle or an AI bubble. Macro research firms like Hedgeye, alongside analysts at Goldman Sachs
The FED speaks: THE 25-BASIS-POINT HIKE IS NOT THE STORY The Federal Reserve has raised interest rates by 0.25 percentage point, taking the federal-funds target range to 3.75%–4.00%. The immediate effect is largely psychological. Markets react to the headline, algorithms react to the headline, commentators react to the headline, then
I am not worried at all by the reduction of the gold and silver prices. I look at the fundamental picture and hold my physical gold and silver tighter. Last Friday’s price falls appear to have been triggered by the algorithms misreading Kevin Warsh’s chat about hiking in the mountains,
My fear for the US economy, and, as a result the world economy, is that most countries have borrowed far more than they can afford, and they cannot afford to reduce or pay back the debt. I feel that the confidence built in the dollar over decades is being destroyed
I have seen quite a few articles lately saying that rising bond yields are detracting from the gold and silver prices. It appeared to be true on Tuesday night when both gold and silver prices were smashed, only to recover all the losses easily on Wednesday morning. When looking at
His take on where we are relative to the 1973-1974 fractal of the gold chart. If he is correct, and I believe he is, we are at the beginning of a long upward trajectory. I think the same goes for silver, but for different reasons. Gold doubled over the time
US GDP reportedly grew by 1.5% in the second quarter. Cause for celebration? Not necessarily. The figure comes from the government, and whether it accurately reflects economic reality is open to debate. Personally, I have my doubts. Economists generally regard annual GDP growth of 2% to 3% as healthy. At
China, in my opinion, correctly, is pushing its market towards a mostly physical market. They are removing small traders and superfluous paper trades. The premiums being charged on the contracts are so large that it is hardly worthwhile buying them. The CME, on the other hand, has gone more towards
It appears that both gold and silver may have found a bottom. Nothing in financial markets is certain, but the charts are giving me increasing confidence that a turning point may be close. My initial reaction to this week’s Middle East crisis was that the market was finally behaving in
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