8.14.19 - 311 Days: Recession Countdown Begins

Gold last traded at $1,527 an ounce. Silver at $17.28 an ounce.

NEWS SUMMARY: Precious metal prices shot up Wednesday on safe-haven buying and recession fears. U.S stocks fell sharply after the U.S. bond market flashed a troubling signal about the U.S. economy.

 

 

 

$2,000 Gold in a Negative Yield World

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gold is money 2430051 640Gold could hit $2,000 in a world full of negative yields -CNBC
"In a world full of negative yielding debt, hard assets like gold could become even more attractive, and some strategists say a case could be made for a $2,000 per ounce price tag on the precious metal....'We have a long position trade on. We are targeting $1,585,' said Daniel Ghali, commodities strategist at TD Securities. 'We do think gold is on its way higher for the time being...Over the coming years as the likelihood of the unconventional policy becomes more of a reality,

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311 Days: Recession Countdown Begins

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Recession CountdownRecession Countdown Begins: Treasury Yield Curve Inverts For First Time In 12 Years; 30Y Yield Drops To All Time Low -Zero Hedge
"While many have noted the inversion of the 3m-10Y segment of the US Treasury curve, mainstream investors appear more focused on the spread between 2Y and 10Y yields... and that has just inverted for the first time since May 2007...The strongest recessionary signal yet, and equity markets appear to be waking up what this all means....As Jim Grant noted recently, the spread between the 10-year and three-month yields is an important indicator...

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China: What Hong Kong Unrest Tells Us

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Hong Kong Protests 2019What Hong Kong unrest tells us about China's plans for the rest of the world-Carafano/Fox News
"The outside world can do little to assure the future of freedom in Hong Kong beyond making the case that preserving the principles of liberty are at stake. Nevertheless, the plight of that territory's more than 7 million souls can teach us an important lesson about what China has in mind for the rest of the world. It is not good. For starters, the continuing protests speak volumes about China's commitment to 'one country two systems.' When the British transferred sovereignty over Hong Kong to China in 1997, Beijing agreed to this arrangement.

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U.S. Bankruptcy Filings On The Rise

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bankruptcy filing640Bankruptcy filings rising across the country and it could get worse -New York Post
"Bankruptcies are back - flashing warnings that more Americans are knee-deep in debt in big cities like New York....New York state's bankruptcy filings, for instance, have risen steadily the past three years, hitting 34,711 in 2018, up from 30,112 in 2016, according to the American Bankruptcy Institute (ABI), based on data from Epiq Systems. More consumers nationwide are falling behind on their payments and filing for bankruptcy to resolve overwhelming debt loads.

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U.S. Blinks by Delaying China Tariffs

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Donald Trump 25218642186Trump just blinked, giving China a possible edge in trade war -CNBC
"In backing off on tariffs Tuesday, President Donald Trump showed just how much pain the U.S. could tolerate, key voices on Wall Street say - and China may use that to its advantage. Markets rallied on the the U.S. announcement that certain items were being removed from the new China tariff list, while tariffs on others would be delayed until December....

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