Sunday, October 2, 2022

RETAILERS WARN OF PRICE HIKES BEFORE CHRISTMAS AS MORE TARIFFS GO INTO EFFECT

by Mac Slavo, SHTF Plan:

The Trump administration raised tariffs another 5% officially on Wednesday, prompting angry warnings from retailers about price increases on goods such as toys before the holiday shopping season. It sure looks like the punishment on the already cash strapped American consumer will not abate anytime soon.

More than 160 other business groups, including the National Retail Federation, Retail Industry Leaders Association, and Association of Equipment Manufacturers, have urged President Donald Trump to postpone the tariffs, warning they would hit Americans in the middle of the busy holiday shopping season.

Top 8 Reasons to Find the Stock Market Emergency Exit Before this Fall

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by Michael Pento, Market Oracle:

The stock market was trading at an all-time high valuation of 150% of GDP this January. That was indeed the bell rung at the very top. Stocks have since started to roll over, but valuations are still at 140% of the underlying economy. And that is, historically speaking, way off the chart. The average of this metric was around 45% throughout the decades of the 70’s thru the mid-1990’s. Therefore, the market is screaming for investors to hit the sell button now while there are still ample bids left. But, if your complacency and procrastination prevent you from realizing the truly dangerous bubble in equities right now, here are eight of the most salient reasons why you’ll definitely need to find the nearest emergency exit before this fall.

Still Firing on all Cylinders: China’s Physical Gold Market

by Ronan Manly, BullionStar:

While headlines may be on the Sino-US trade war, China’s gold market continues to fire on all cylinders, with physical gold continuing to flow into, and through, the world’s largest gold hub.

Year-to-date, Chinese wholesale gold demand is on a par with recent years, Chinese central bank gold purchases have officially recommenced after a two year halt, and gold import data into China is now more transparent than ever before.

Shanghai Gold Exchange (SGE) Withdrawals

In China, the critical trading hub for the Chinese gold market is the Shanghai Gold Exchange (SGE). Practically all physical gold supply flows through the SGE, and on the flip side, nearly all Chinese physical gold demand is met by physical gold withdrawals from the SGE’s nationwide storage vaults. Therefore, physical gold withdrawals from the Shanghai Gold Exchange is the best proxy available for Chinese wholesale gold demand.

TFMR Podcast – Wednesday, July 10

by Turd Ferguson, TF Metals Report:

Given the current circumstances and, frankly, just for fun, I thought I’d make today’s podcast a free, public thread for all to enjoy.

However, it’s late so I need to get this posted. No additional links today. Instead, just a lengthy general discussion of the day’s events and a warning to watch out for the CPI tomorrow.

From there, we discuss these charts in order:

Click HERE to listen

OLD UP $1.90 TO $1277.70/SILVER DOWN 6 CENTS TO $16.44 WITH CHINA OFF ON A HOLIDAY

by Harvey Organ, Harvey Organ Blog:

RECORD SETTING 27000 EFP ISSUANCE FOR GOLD AND A GAIN OF 8000 OI CONTRACTS DESPITE A $28.90 LOSS IN PRICE/MERKEL GOVERNMENT IN TROUBLE DUE TO IMMIGRATION POLICY/AUDI CEO ARRESTED IN GERMANY/SWAMP STORIES

Japan on Verge of Systemic Financial Collapse

from 21st Century Wire:

This week, in its bid to stem the tide of inflation, the US Federal Reserve Bank announced its biggest interest rate hike in 25 years, raising the rate three quarters of a percent. Relatively speaking, this is like throwing a glass of water on a forest fire, but in the short term it will certainly tighten-up the economy which will trigger that bona fide recession everyone was fearing. In truth, the real economy has been in recession for years. As our globalized economy continues its tailspin due to the suicidal economic policies implemented by leading western countries – like the United States, United Kingdom and the European Union, the original ‘Asian Tiger’ economy, Japan, is now on the verge of systemic collapse with “dramatic, unpredictable non-linearities” manifesting themselves in already over-stretched financial markets, warns Bloomberg, Deutsche Bank and others. 

MIT Researchers Slam Global Warming Data In New Report: In No Way A “Valid Representation of Reality”

by Joshua Caplan, The Gateway Pundit:
A new report which analyzed key global warming metrics such as Global Average Surface Temperature (GAST), the NOAA and HADLEY, confirms President Trump was correct in pulling out of the Paris Climate Agreement.

SHFTPLan reports:

According to the report, which has been peer reviewed by administrators, scientists and researchers from the U.S. Environmental Protection Agency (EPA), The Massachusetts Institute of Technology (M.I.T.), and several of America’s leading universities, the data is completely bunk:

QE Unwind Speeds Up: Fed’s Assets Drop $85 Billion. Four-Week Total -$248 Billion. Big Chunk in a Short Time

by Wolf Richter, Wolf Street:

Repos & dollar liquidity swaps on their way out. SPVs declined. Hardly bought any corporate bonds & ETFs. MBS flat. Treasuries ticked up.

OK, this balance-sheet shrinkage, now in its fourth week, is going faster than I’d expected. Total assets on the Fed’s balance sheet for the week ended July 8, released this afternoon, dropped by -$85 billion, the fourth week in a row of declines. This brought the four-week total drop to -$248 billion: