Everyone seems to focus on gold's price while forgetting its value as a diversification.
Having covered the issue of “competitive devaluation” and currency-debauchment in considerable depth in recent commentaries, China’s “surprise devaluation” of the renminbi provides a practical, current example to illustrate the economic dynamics at work here.
PBoC Injection Shows China Worries About Outflows- WSJ
The nation’s largest privately held company, Cargill, has agreed to purchase Norwegian-based EWOS, one of the world's largest suppliers of feed and nutrition for farmed fish. The $1.5 billion deal signals Cargill’s entry into salmon and trout markets and is the company’s second aquaculture deal in the past two months after it announced a $30 million shrimp feed facility project in Equador with Naturisa.
The official GDP numbers do not reflect this because they are too politically important to do so. But the hard data shows something nasty is coming down the pike.
The Telegraph’s John Ficenec has written an excellent piece warning of a possible market crash in the coming weeks. He identifies eight key “signs things could get a whole lot worse.”
Both the October and December gold contracts are backwardated, and Feb '16 contract is not far. The gold market is tight. Why?
A look at next week's data in the somewhat larger context, and a look at interest rate differentials
... and the ECB printing presses!
Open Thread ...
The bond bubble is now well over $199 trillion in size. And if we were to include credit instruments that trade based on bonds, we’re well north of $600 trillion.
It wasn't really clear to me how popular their site was, though, until the news hit on April 23, 1998 that Silicon Investor had been bought by go2net for $33,000,000 in stock. Now keep in mind this was just a discussion board we're talking about, little more sophisticated than the dial-up BBS's I had enjoyed back in 1981 on my TRS-80.
Near-term dollar outlook, with some views on oil, Treasuries and S&P 500 thrown in for extra measure.