Who Knew? German Central Bank Has Been Selling Gold For More Than A Decade
Authored by Louis Cammarosano via Smaulgld.com,
Deutsche Bundesbank gold reserves shrink 45 tons over the past ten years.
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"When The Facts Change"- Oil's Biggest Cheerleader Capitulates: Andy Hall's Full Bearish Letter
After years of being oil's biggest cheerleader, "oil god" Andy Hall, who starting with the OPEC Thanksgiving massacre in 2014 has had several abysmal years, in the process losing the bulk of his AUM, finally threw in the towel last week when in a July 3 letter to investors, he admitted that "the facts have changed" and that "fundamentals have deteriorated significantly" adding that "demand growth seems to be somewhat less than anticipated while supply keeps surprising to the upside...
The Inevitability Of DeGrowth
Authored by Charles Hugh Smith via PeakProsperity blog,
Even though we don't know precisely how the future will unfold, we know a few things about it:
Financial "Collateral Damage" Highlights China's And Fed's Impossible Task
Authored by Mike Shedlock via MishTalk.com,
Variant Perception notes China Broad Credit Growth Slows to Zero. The side effect is a huge amount of collateral damage.
The recent tightening of credit we have seen in China is primarily aimed at clamping down on shadow financing. Wealth management products have rapidly grown in size, from only 8% of total banking deposits in 2012 to over 20% today.
CFTC Approves Options Trading In Bitcoin
US regulators aren’t yet comfortable with bitcoin ETFs (although a quad-levered S&P ETF is just fine for mom and pop), but apparently options and swaps are another story.