by Mish Shedlock, Mish Talk:
Numerous articles and Tweets have surfaced about China dumping Treasuries. First let’s investigate the rumors. Then let’s look at conditions in which China might dump dollar assets.
Not China Dumping
Until the past week there was a relentless selloff in US treasuries that sent bond yields soaring.
from GoldSeek Radio:
TRUTH LIVES on at https://sgtreport.tv/
by Alasdair Macleod, Schiff Gold:
The writing of this market report was at a time of great volatility, due to it coinciding with the speech of the Hezbollah leader, Hassan Nasrallah. The drift of it appears to be that Hezbollah will support Hamas. If so, it means an intensification of the Palestinian crisis Which would presumably drive gold and silver prices higher. This market report should be read in this context.
by Alasdair Macleod, Schiff Gold:
The day of reckoning for unproductive credit is in sight.
With G7 national finances spiraling out of control, debt traps are being sprung on all of them, with the sole exception of Germany.
Malinvestments of the last fifty years are being exposed by the rise in interest rates, increases which are driven by a combination of declining faith in the value of major currencies and contracting bank credit. The rise in interest rates is becoming unstoppable.
by Dennis Miller, Miller On The Money:
The price of gold has been swinging wildly over the last several months; from over $2,000 oz. in May, then dropped to around $1822 oz. early in October. The middle east war reignited and it quickly jumped back up around $50. What’s going on?
I Googled “Gold Price Prediction for 2023” and the responses were all over the place. Here is a screenshot of what popped up.
by Robert Lambourne, Gold Seek:
Active trading in gold swaps by the Bank for International Settlements, the central bank of the central banks, continued in September.
From information in the BIS statement of account for the month, published this week —
https://www.bis.org/banking/balsheet/statofacc230930.pdf
— it is estimated that the bank’s gold swaps fell 33 tonnes in the month, from 129 to 96 tonnes.
from ZeroHedge:
Downdetector has reported that several US banks are facing service disruptions on Friday morning. Meanwhile, users on the ‘free speech’ social media platform X complain that the Automated Clearing House system is down.
Downdetector shows Truist, Bank of America, Chase, US Bank, and Wells Fargo are experiencing widespread outages and disruptions that began around 0800 ET.
by Martin Armstrong, Armstrong Economics:
I have both good and bad news. The bad news is that the US government is continually spending with no end in sight. The proxy wars have eliminated even a level-headed discussion of anything akin to a real budget. In a move that angered Treasury Secretary Janet Yellen (also good news) Republicans introduced legislation to reduce funding toward Biden’s IRS army through the Inflation Reduction Act. They still plan to spend billions of taxpayers’ money, but that money will now go toward Israel instead of hunting down those who fund the organization.
by Mac Slavo, SHTF Plan:
October 29th marked 94 years since Black Tuesday and the start of The Great Depression. Thanks to the unlimited amount of fiat currency the Federal Reserve is willing to loan to the ruling class in order to propagate wars and depopulate the planet, we are on the brink of experiencing another economic collapse.
According to recent financial statements prepared by the U.S. Treasury Department, “the current fiscal path is unsustainable,” and there has not yet been a federal agency that disagrees with that statement. The nation’s interest-bearing debt just passed $33 trillion and is expected to surpass $50 trillion within the next 10 years, according to North Jersey.
by Harvey Organ, Harvey Organ Blog:
GOLD CLOSED DOWN $6.15 TO $1979.35 WHILE SILVER CLOSED DOWN 11 CENTS TO $22.73 AS THE SPECS ADD MASSIVELY TO THEIR SHORT POSITION AND CENTRAL BANKS TAKE THE BUY SIDE AND THEN TAKING DELIVERY ESPECIALLY GOLD (800 TONNES THIS QUARTER//PLATINUM CLOSED DOWN $8.90 TO $924.95 WHILE PALLADIUM CLOSED DOWN $20.35 TO $1107.65//ROBERT LAMBOURNE REPORTS ON THE BIS GOLD SWAPS WITH THE FED LOWERING ITS SHORTFALL IN SEPT DOWN TO 96 TONNES..STILL A LONG WAY TO GO//CENTRAL BANKS CONTINUE TO GORGE ON PHYSICAL GOLD ACCUMULATION//GOLD COMMENTARY TODAY FROM PETER SCHIFF/EPOCH TIMES PROVIDES AN EXCELLENT COMMENTARY ON THE DETERORIATING HEALTH OF THE CHINESE ECONOMY//PALESTINIAN THROW RATS INTO MACDONALDS//ISRAEL VS HAMAS: ISRAEL NOW CONTROLS THE NORTH SECTOR OF HAMAS WITH THEIR TANKS AS WELL AS NORTH SOUTH ROADS BUT WITH 15 CASUALTIES//STARVING YEMEN DECLARES WAR ON ISRAEL//NEW DATA RELEASED BY THE USA SUGGESTS THAT THEY ARE IN THE MIDST OF STAGFLATION//ADP REPORT AND JOLTS REPORT//SUBPRIME AUTO LOANS SKYROCKET AND IT LOOKS LIKE WE WORK WILL FINALLY SUCCUMB
