by Jim Rickards, Daily Reckoning:
Janet Yellen gave a speech on Sept. 26 at the 2024 U.S. Treasury Market Conference in New York. The speech was largely about risks in the banking system and the market for U.S. Treasury debt.
In a pre-speech interview with Politico, Yellen was asked about risks related to a smooth presidential transition in this election cycle. While that may seem like a straightforward question, it contained a particular bias that somehow Donald Trump, win or lose, might make the presidential transition difficult.
Difficulties could arise if Trump loses and claims the election was “rigged” or if Trump wins and radical groups like antifa commence violent protests. My estimate is that the former is unlikely, and the latter is far more likely but Trump haters in the media will take the opposite view.
from RT:
An associate professor from the University of Zimbabwe has spoken to RT about currency strategies and the New Development Bank
The BRICS New Development Bank (NDB) provides more flexible and supportive terms than the International Monetary Fund (IMF), an associate professor at the University of Zimbabwe has told RT in an exclusive interview.
Kudzai Dominic Chiwenga, who is also the founder and chairman of the NPC Zimbabwe-Russia Youth Foundation, said the NDB was designed to provide a “fairer system” for member nations and other developing countries.
by David Jensen, Jensen’s Economic, Precious Metals, & Markets Newsletter:
Saddle Up
“If you can’t take a small loss, sooner or later you will take the mother of all losses.”
Ed Seykota
Silver shortage is kryptonite to the system of setting silver’s price with leveraged cash/spot promissory notes in London’s cash silver market – the world’s largest cash physical silver trading market by volume. A promissory note is no substitute for a silver bar when the market encounters physical shortage.
from Operation Freedom:
TRUTH LIVES on at https://sgtreport.tv/
by Martin Armstrong, Armstrong Economics:
Federal Emergency Management Agency (FEMA) has warned that it has run out of funding at the beginning of America’s hurricane season. Last month, the agency testified before Congress that it still has $4 billion in its Disaster Relief Fund, then claimed that Hurricane Helene wiped through the budget. The agency has been begging Congress to approve additional funding, but a new report found that FEMA has at least $8.3 billion in unused funds.
by Gary Savage, Gold Seek:
General rule, breakouts will happen when the least amount of people are expecting it.
I’ve mentioned the cancellation index before, it’s kind of a proprietary tool. It’s nothing really special. It’s just the amount of people that are getting frustrated and canceling their subscriptions and this always peaks right before a big move.
For Gold
So, that cancellation index, obviously it spiked right in here; this is where the cartel really died. They’re not dead, but they’re just not going to be able to suppress price to an integrated extent anymore. They tried multiple times here to drive gold back below $2000, but failed to do it.
by Kerry Lutz, Financial Survival Network:
Starbucks keeps jacking up prices, slashing rewards, and making their loyalty program suck more every year. What used to be a cool spot with solid rewards now just feels like a money trap, where loyal customers are expected to spend more and get way less in return. Their brand? Totally wrecked by greed and bean counters.
by Craig Hemke, Sprott Money:
We’re now into the fourth quarter of 2024, and the prices of gold and silver are up significantly year-to-date. Gold continues to make new all-time highs while silver is trading at levels not seen since 2013. If these trends continue, how much higher might prices go?
Let’s focus on the silver price this week, as that’s the one that is still causing the most angst among precious metal enthusiasts. With gold at all-time highs, how long might it be before silver plays catch up and makes its own new all-time highs?
The UAE just eliminated taxes on cryptocurrency transactions. They are light years ahead of the rest of the world.
Imagine how much Bitcoin the billionaires in this country are buying ahead of the bull market. pic.twitter.com/f2NJq0gLLf
— The ₿itcoin Therapist (@TheBTCTherapist) October 6, 2024
