Illicit Gold Trade from Africa to UAE Exceeds $23 Billion Annually
Billions of dollars worth of gold is smuggled out of Africa each year, primarily to the UAE for processing, according to a SwissAid report. The Bern-based NGO analyzed gold import data over a decade, estimating the illicit trade at $23.7 to $35 billion annually. In 2022 alone, over 435 tons of gold were smuggled out, […]
Q1 GDP Revised Lower To Just 1.3%, Lowest In Two Years As Consumption Slows
Q1 GDP Revised Lower To Just 1.3%, Lowest In Two Years As Consumption Slows What was until recently a “red-hot” economy, with the US reportedly growing at an annual rate of 4.9% in Q3 and 3.4% in Q4 2024, has suddenly and dramatically downshifted, and according to the latest GDP data released from Biden’s BEA, […]
It Won’t Be A Shock To See Another Bank Fail Soon
It Won’t Be A Shock To See Another Bank Fail Soon Authored by Simon White, Bloomberg macro strategist, US regional banks’ deposits recently made new highs, exceeding the level prior to SVB’s collapse. But that’s far from an all clear. Exposure to commercial real estate continues to rise and delinquencies on the underlying loans is […]
Initial Jobless Claims Rise Near 8-Month Highs, But…
Initial Jobless Claims Rise Near 8-Month Highs, But… Another week, another government-sponsored jobless claims print to mock. According to the Department of Labor, 219,000 Americans filed for jobless benefits for the first time last week (up from 216,000 the prior week)… Source: Bloomberg Tennessee and Michigan saw the largest jump in claims while Pennsylvania and […]
OPEC+ Could Jolt Oil Higher, Confounding Bearish Speculators
OPEC+ Could Jolt Oil Higher, Confounding Bearish Speculators Authored by Grant Smith via Bloomberg, Bearish oil speculators have been out in force this month, building up their biggest short position in Brent since the depths of the pandemic in late 2020. But with a busy agenda of OPEC+ news scheduled for this weekend, history suggests that […]
Futures, Rates Drop As Salesforce Implosion Sours Mood
Futures, Rates Drop As Salesforce Implosion Sours Mood US equity futures are weaker despite lower bond yields, breaking away from this week’s narrative of Equity/Yields negative correlation, after Salesforce plunged 15% due to disappointing guidance. Small-caps are poised to outperform but have failed to hold gains this week. As of 7:45am, S&P futures are down […]
China Halts Beef Shipments From JBS Plant In Colorado Over Feed Additive Drug Banned In 160 Countries
China Halts Beef Shipments From JBS Plant In Colorado Over Feed Additive Drug Banned In 160 Countries Beijing has halted US beef imports from JBS SA’s meat processing plant in Greeley, Colorado, after detecting traces of ractopamine in the beef intended for China. Brazil-based JBS, the world’s largest beef producer, wrote in a statement, “We’re […]
Why Are Vast Numbers Of People Relocating To Small Towns All Over The Country?
Why Are Vast Numbers Of People Relocating To Small Towns All Over The Country? Authored by Michael Snyder via The Economic Collapse blog, In recent years, Americans have been fleeing our largest cities in unprecedented numbers, and many of them have decided to settle down in quiet little towns all over the country. There are […]
“Go Find Another Job”: Judge Judy Slams Progressive DAs, Says They’d Be Better Suited Selling Ice Cream
“Go Find Another Job”: Judge Judy Slams Progressive DAs, Says They’d Be Better Suited Selling Ice Cream America’s favorite primetime judge took to Fox News this week to deliver a scathing verdict on progressive district attorneys across the United States, suggesting they’d be better suited selling ice cream cones for a living. Speaking to Fox […]
Which Central Banks Are Selling Gold?
Which Central Banks Are Selling Gold? Via SchiffGold.com, Central bank gold buying has been a significant factor in the yellow metal’s spectacular run-up to new record highs. But with its recent small correction downward, it’s a good time to look at which central banks are selling — and why. Gold vs USD, 1-Month Chart, Source: Bloomberg […]