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News — politics

Leading Market Strategist Warns: Central Banks are Insane, an Impediment to Progress

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By John McDonald As more and more players on the S&P 500 and the Dow Jones Industrial Average up the ante on their year-end-returns predictions, analysts like Sven Henrich, founder and lead market strategist of NorthmanTrader.com, are getting nervous. In a recent op-ed posted on MarketWatch, Henrich asked: “Why does the global economy need rescuing after 10 years of non-stop monetary stimulus?” The answer, he warned, is unsettling. According to Henrich, investors are becoming so afraid of any market “pain” that central banks now feel too much pressure from politicians and their associated governing bodies. The banks, which were created...

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The U.S. Treasury Could Run Out of Cash in September

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By John McDonald The U.S. Treasury could run short on cash before Congress reconvenes in September if the legislature fails to raise the debt ceiling before Congress leaves for the end-of-summer recess.  Treasury Secretary Steven Mnuchin wrote a letter to House Speaker Nancy Pelosi mid-July, warning, “Based on updated projections, there is a scenario in which we run out of cash in early September, before Congress reconvenes.” Mnuchin is hoping his letter will spark a spirit of cooperation between the left and right sides of the aisle so that the White House does not have to offer a one-year continuing...

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President Labels Fed the United States’ “Most Difficult Problem”

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By John McDonald President Trump is not known for making a secret of his opinions on how various facets of the federal government operates. It is one of the things his supporters love most about him and one of the things his critics find most distasteful.  Perhaps among the most-covered commentary when it comes to presidential critiques of federal entities is the president’s outspoken criticism of the Federal Reserve.  For everyone who dislikes the current monetary policies in the United States, President Trump’s ongoing attacks on Fed policy certainly fit the bill. Recently, the president tackled Fed policies in the...

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Russia Continues to Add to Gold Reserves

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By John McDonald The Russian central bank has been investing heavily in gold this summer, adding 6 tonnes of the precious metal to its reserves in May 2019. This put the country’s total gold holdings at nearly 2,200 tonnes as of June 1, 2019, up by 0.3 percent in May. Russia has added 77 tonnes to its gold reserves since the beginning of this year. About 40 percent of that was purchased this past February. The country’s central bank is not hiding its activities. In fact, it released information about its latest acquisition via a press release shortly after the...

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Gold Bulls “Back in Control” as Values Near 6-Year Highs

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By John McDonald As more precious-metals speculators buy up increasingly large amounts of gold, a rally that could take the metal higher than it has been since August 2013 gains steam. Gold values have hovered around $1,400 for several days, but with the Federal Reserve’s interest-rate cut coming in smaller than the markets and investors had hoped and economists warning the Fed is destroying its own credibility along with that of the U.S. dollar, gold is likely to sustain its rise for the duration of 2019, if not longer. As Edward Moya, a senior market analyst at Oanda Corp., said...

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