Business

Total G-3 Central Bank Control

Posted with permission and written by Craig Hemke, TF Metals Report 

Will be leaving for Missouri soon for a speech on tax cuts and tax reform - so badly needed!

— Donald J. Trump (@realDonaldTrump) August 30, 2017

Having in recent weeks boosted his estimate for government shutdown odds to even, or 50%, in a note overnight from Goldman's Jan Hatzius, the bank's chief economists writes that due to the human tragedy from Hurricane Harvey, the odds of a shutdown have been again reduced, back to Goldman's original estimate of 33%.

Authored by James Rickards

Last week featured two unusual stories on gold - one strange and the other truly weird. These stories explain why gold is not just money but is the most politicized form of money.

They show that while politicians publicly disparage gold, they quietly pay close attention to it.

The first strange gold story involves Germany…

The Deutsche Bundesbank, the central bank of Germany, announced that it had completed the repatriation of gold to Frankfurt from foreign vaults.

In a surprise for traders - and the Fed - moments ago the BEA reported that after its first revision of Q2 GDP (a quarter which ended two months ago), the initial estimate of 2.6% was revised to 3.0%, beating expectations of a 2.7% print, and the highest annualized growth rate since Q1 2015. The annualized Q2 GDP was more than double the first quarter number which as a reminder printed at 1.2%