Bank of England

Are Rate Hikes Bad For Gold?

Gold does not necessarily rise and fall with interest rates, jewelry demand in India, or any other widely believed nonsense. Rather, gold has moved in conjunction with perceptions as to whether or not the Fed and central banks have everything under control.

Frontrunning: February 23

  • Trump to Brainstorm on Job Policies With Corporate CEOs (BBG)
  • Border-Adjustment Tax Divides Energy Sector (WSJ)
  • French Bonds Rally After Macron Boosts Presidential Campaign (BBG)
  • Boeing Fighter Jet, Feared Dead, Gets New Life From Trump Tweets (BBG)
  • Treasury Secretary Steven Mnuchin Sees Tax Overhaul by August (WSJ)
  • Why Mexico Is Trump’s First Line of Defense on Immigration (BBG)

Frontrunning: February 22

  • Euro Slips, Bonds Gain as Investors Turn Cautious (BBG)
  • Fed Minutes Could Offer Hints on Timing of Rate Rises, Balance Sheet Moves (WSJ)
  • Trump's new security advisor differs from him on Russia, other key issues (Reuters)
  • Tillerson, Kelly Head to Mexico for Talks Amid Diplomatic Tensions (WSJ)
  • Why Trump’s Immigration Crackdown Could Sink U.S. Home Prices (BBG)

Alan Greenspan: Ron Paul Was Right About The Gold Standard

"When I was Chair of the Federal Reserve I used to testify before US Congressman Ron Paul... we had some interesting discussions... We would never have reached this position of extreme indebtedness were we on the gold standard, because the gold standard is a way of ensuring that fiscal policy never gets out of line."

Frontrunning: February 16

  • Futures dip as Wall Street navigates unchartered territory (Reuters)
  • Trump's Russia crisis deepens (Reuters)
  • Government Landlord Pays Millions Each Year to Trump Company (WSJ)
  • Protests call for U.S. immigrants to stay home from work, school (Reuters)
  • Trump Hates Trade Deficits, But Which Ones Really Matter? (BBG)
  • French Election Puts ‘Frexit’ on the Agenda (WSJ)

What Will Trump Do About The Central-Bank Cartel?

Mr. Trump doesn’t seem to be an “internationalist,” seeking to build a new world order by political and military means. If that is so, he will sooner or later have to come to grips with the Fed’s policies - most notably with its liquidity swap agreements.

The Unintended & Deadly Societal Consequences Of Quantitative Easing

"As I look back, it now seems that, with all the thought and work and good intentions, which we provided, we achieved absolutely nothing… nothing that I did produced any good effect – or indeed any effect at all except that we collected money from a lot of poor devils and gave it over to the four winds."

Frontrunning: February 10

  • Trump backs 'one China'  (Reuters)
  • Senate votes to confirm Rep. Price as health secretary (Reuters)
  • H-1B Crackdown Fears Open Rift Between U.S., Indian Firms (WSJ)
  • Trump, Japan's Abe to hold summit amid air of uncertainty (Reuters)
  • Trump Will Use Abe Visit to Soothe Worried Asia-Pacific Allies (WSJ)

Frontrunning: February 8

  • Stock futures little changed amid earnings rush (Reuters)
  • Workers Set to Strike at World’s Largest Copper Mine (WSJ)
  • For Trump Travel Ban, Hard Questions From U.S. Appeals Court (BBG)
  • Melania Trump Sues Mail Online for $150 Million (BBG)
  • Ivanka Trump oversaw Murdoch daughters’ trust (FT)