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"It's called 'trust'... Trust in money, over the very long term, has been a fickle thing. No paper money has survived time, while gold has. Gold is history's trusted 'store of value'..."

The BEA unveiled in its first revision of GDP that the historic Q2 slowdown was just modestly better than expected, coming in at -31.7%, beating expectations of a -32.5% number.

All that central bank liquidity and rate repression is starving the markets of the oxygen of common sense – hence the current hypoxic euphoria... It can’t last forever.

"You trade in advance in the expectation that a dovish speech will be delivered and then you square up your position a few hours before hand."

Powell is on deck and here's where we stand...

"So it's become a very difficult situation." 

Police claim that wash trading and market manipulation by the owner and management team of the Coinbit exchange netted over 100 billion won.

An overwhelming number of truckers wouldn't "pickup/deliver to cities with defunded/disbanded police departments."

Senior editor, Ash Bennington, joins managing editor, Ed Harrison, to discuss risk assets, credit markets, and the fiscal cliff. Within an environment of…

"if you go back and watch some of those numerous debates, he was so bad. He wasn't even coherent. And against Bernie, he was."

Central banks are killing our currency to protect the already-rich...

In March, CEO Marc Benioff pledged that the company would avoid any significant layoffs for 90 days during the pandemic.

"If senators still fail to resolve stalled negotiations..." 

"...and there is nothing they can do..."

"We know this may severely impact publishers’ ability to monetize through Audience Network on iOS 14, and, despite our best efforts, may render Audience Network so ineffective on iOS 14 that it may not make sense to offer it on iOS14 in the future."

The irony is that the Fed's inflation mandate has been met. The problem is policymakers are not aware of it.

For those who see 2020 emerging as the peak year for corruption in US capital markets - or what little is left of them now that the Fed is in charge of everything - the SEC just gave you a big thumbs up.

"This has been a tremendous fiscal and monetary failing..."

Overall, another stellar auction and one wonders if Powell's speech vowing he won't hike rates until 2060 has already leaked...