The global selloff that started on Monday as traders were spooked by the double whammy of surging interest rates and fears about iPhone X demand, and resulting in the biggest drop in US stocks since September, accelerated overnight and as seen below world stocks and US equity futures are a sea of red this morning: […]
The JSE GLDX ( Gold Miners Index) and JSE PLAT ( Platinum Miners Index ) have broken their bear downward trend and are starting their upward trend. The JSE GLDX has broken the 13,34 and 144 day moving average. The JSE PLAT Index has also broken the 13,34 and 144 day moving average. These to […]
In an interview on CNBC on Oct. 11, economist Carl Weinberg told the business network that China is going to compel Saudi Arabia to sell them their oil in the Yuan currency, which will have a serious consequence to the dollar and the Petrodollar system.
Beijing is likely to “compel” Saudi Arabia to sell crude oil in yuan, and others will follow, according to the chief economist and managing director at High Frequency Economics Carl Weinberg. This will hit the US dollar, he says. In an interview with CNBC Weinberg said China has become a key player in the oil market since overtaking the US to become the world's largest importer. Saudi Arabia has “to pay attention to this because even as much as one or two years from now, Chinese demand will dwarf US demand,”Weinberg told the media.
“I believe that yuan pricing of oil is coming and as soon as the Saudis move to accept it — as the Chinese will compel them to do — then the rest of the oil market will move along with them,” he added. A..
My father was Hugo Salinas Rocha -“Salinas” was his father’s surname, and “Rocha” was his mother’s surname; the custom of using both parents’ surnames is universal in Latin America. Father was a successful merchant in Mexico City, and in the 1930’s he ran a store in downtown Mexico City. The store belonged to a company […]
by Chris Campbell, Laissez Faire Books: “The final weapon in the Fed’s arsenal,” Jim Rickards, author of The Road to Ruin: The Global Elites’ Secret Plan For the Next Financial Crisis, wrote this week, “is the financial equivalent of nuclear war.” The Fed’s “nuclear option,” Rickards warns, is… wait for it… gold. We bring this […]
Gold at (1:30 am est) $1140.50 up $5.20 silver at $16.03: down 12 cents Access market prices: Gold: $1139.00 Silver: $16.00 THE DAILY GOLD FIX REPORT FROM SHANGHAI AND LONDON Somehow Shanghai gold fix is not available today . The Shanghai fix is at 10:15 pm est last night and 2:15 am est early this […]
The global economic activity has been falling since the end of 2010. The chart below, called the Baltic Dry Index, measures shipping activity around the world. Due to company and personal debt being too high, global trading is on the decrease, thus affecting the GDP growth. Capital (money) and not debt creates growth. Daily essentials […]