We continue to see articles by so called “experts” trashing Gold and Silver as investments. Gold is everything from a “Pet Rock” to a “Dumb Investment” or “Barbarous Relic.”
Do these people even bother doing research? Or are they just stock shills?
First and foremost, you cannot compare Gold’s performance relative to stocks anywhere before 1967.
Why?
In an interesting interview with Finanz und Wirtschaft, Bianco Research president Jim Bianco discusses a variety of topics such as negative interest rates turning the entire credit process upside down, bank balance sheets being even more complex and concentrated than before the financial crisis, energy loans being an accident waiting to happen, the markets having veto power over the Fed, and gold having more room to run.
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After its earlier pump and rapid dump, WTI crude is unable to bounce for now despite the biggest rig count decline in 6 weeks. The oil rig count declined by 11 to 332 - the lowest since October 2009 - tracking lagged crude prices. If the co-dependence continues we would expect to see rig counts begin to rise (or stop declining) very soon. Total US rig count dropped to 420 - a new all-time record low.
Submitted by David Yager via OilPrice.com,
Never is a long time. The dictionary definition is, “at no time in the past or future; on no occasion; not ever.” In the volatile oil and gas industry, those who try to look that far into the future and predict anything with certainty are invariably wrong. Here’s hoping.
Earlier today we reported that in its inaugural Q2 GDP nowcast, the Atlanta Fed expects 1.8% for Q2 GDP, a substantial rebound from the first official Q1 GDP print of only Q1. We also said that we expect this number (which is already 0.5% below the consensus estimate) will drop substantially in the coming weeks. Well, moment ago the New York Fed, which apparently has picked up the baton of the "most bearish regional Fed" released its own first Nowcast for Q2, in which it sees Q2 GDP growth of only 0.8%, or 1% below that of its fellow Fed.
This is why: