On March 23 – the day the S&P dropped to its cycle low of 2,237 – the Fed stunned capital markets when it announced it would purchase investment grade corporate bonds, traversing a Rubicon into secondary market intervention that not even Ben Bernanke had dared to cross.
President Reagan memorably said that the nine words you don’t want to hear are “I’m from the government, and I’m here to help.”
Economists at JPMorgan Chase & Co. see the U.S. recovery from the coronavirus pandemic going even more slowly than previously thought, downgrading their forecast for 2021 growth and projecting an unemployment rate of at least 10% through next year’s first quarter.
There’s a debate in gold bug circles over whether the price difference between gold and silver – the gold/silver ratio – tells us anything useful.
The centralized financial system has compromised itself several times during the last two decades alone, and now it’s time for a serious change!
Few mainstream commentators understand the seriousness of the economic and monetary situation, ranging from a V-shaped rapid return to normality towards a more prolonged recovery phase.