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News — financial crisis

As Dollar Weakens, Get Ready for Strong Gold

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By John McDonald Despite lower unemployment rates than the United States has seen in the past half-century and strong market performance for nearly a decade, the Federal Reserve recently opted to trim interest rates for the first time since the global financial meltdown of 2008. Jerome Powell, Fed chairman, cited stalled manufacturing growth and anticipation of a “world economic slowdown” as reasons for the cut. While the rate-cutting has a number of analysts in a tizzy, gold investors should be watching the Fed’s move with excitement.  It is likely just the catalyst gold needs to outperform the market and replicate...

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Buried Under A Lifetime of Debt

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By John McDonald Excessive debt is among the biggest entrapments in which to be caught. Day after day and sleepless night after a sleepless night, Americans facing a disproportionately – and dangerously – high debt burden live in a financial cage of their own making, sometimes motivated by the highest of ideals (like starting a new business or getting an education) and sometimes motivated by the high-consumption lifestyle that has become the norm in the land of the free and the home of the brave. Consider the pervasive issue of student debt, for example. The case for pursuing higher education...

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Presidential Criticism of European Central Bank President Raises Fear of Currency Wars

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By John McDonald Despite suggesting earlier this summer that European Central Bank President Mario Draghi would be better in charge of the Federal Reserve than sitting chairman, Jerome Powell, President Trump has recently criticized Draghi for aggressive monetary tightening in Europe.  Draghi had signaled that the ECB could lower interest rates as early as July while speaking at a central-banking forum in Portugal. The euro responded by plummeting in value while global equity markets reacted positively to the news that the ECB might restart its bond-buying program to support the Eurozone economy. President Trump’s issue with Draghi’s policies came in...

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7.4 Tons of Venezuelan Gold “Lost” in Africa

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By John McDonald Venezuela was once one of Latin America’s most prosperous countries. Today, it is foundering in an ongoing economic and political crisis.  To make matters worse, it appears to have recently “lost” more than 7 tons of gold valued at more than $300 million. Here’s what we know happened so far: Venezuelan President Nicolás Maduro has been selling off the country’s gold reserves in an attempt to raise hard currency. The country has been largely isolated by U.S.-led sanctions that eliminated much of its oil revenues due to its participation in what the current administration has labeled a...

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Next Financial Crisis Triggered by Global Market Shock

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By John McDonald With more and more economists speaking freely of the next recession not as a possible economic swing to be avoided but rather as something now unavoidable, it came as no surprise when market bear and NYU economics professor Nouriel Roubini warned there is a growing risk of a recession as soon as 2020. Roubini and colleague Brunello Rosa published a list of 10 potential downside risks that could trigger a U.S. and global recession. In his analysis last week, Roubini said bleakly, “Nine of them are still in play.” Roubini cited, “trade wars with China and other...

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