- Gold and silver came under pressure this week as the Federal Reserve cut rates only to be bolstered by U.S. China trade deal uncertainty. The voices of trade were ushered out onto mainstream business channels to calm market nerves.
- Hong Kong officially fell into recession after enduring almost 5 months of protests and persistent U.S. China trade dealings.
- Michael Pento, Author of “The Coming Bond Market Collapse” was interviewed on Greg Hunter. Pento expects the yield curve to invert again and says the FED is in an all-out panic. He points to the junk bond market as the linchpin to the next collapse as the FED lacks the tools to re-liquify the market.
- Forbes’ Simon Constable notes that “Chinese Investors Pile into Gold as Economic Worries Surge”. The article notes that much of this piling into gold is actually going into ETFs.
Segment #2: Darren looks at some scary charts that would spook investors. In particular that financial markets can be a scary place for investors as the US economy is in the longest expansion on record. What it means is that with low yielding bonds investors have to take increasing amounts of risk to find yield. The discussion of investing in a low interest, high debt atmosphere is definitely spooky.
Segment #3: Pam and Russ Martens from Wallstreetonparade.com wrote a stunning expose on Wallstreet Buybacks. Specifically, they look at JPMorgan and how they are partially using depositors funds to buyback stock? Why buyback stock? Well, put simply, executives get bonuses in stock and for stock performance; what better reasons do you need? However, it is causing a liquidity issue on Wallstreet as JPM does not have an impetus to lend to other financial institutions in the Repo market. No wonder the Fed is spooked.
Segment #4: We rattle of the 14 signs the US economy is steadily weakening as listed by the Daily Coin.
Segment #5: Time to review what holding precious metals in an RSP/TFSA looks like with Guildhall Wealth.