Here are the latest news items and commentary on current economics news, market trends, stocks, investing opportunities, and the precious metals markets. We also cover hedges, derivatives, and obscura. Most of these items are from the “tangibles heavy” contrarian perspective of SurvivalBlog’s Founder and Senior Editor, JWR. Today, we look at the global credit market turmoil that started in England. (See the Economy & Finance section.)
Precious Metals:
Goldman on what oil and gold have to offer: this commodity is ‘welcome opportunity’.
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Hedge funds are still bearish; gold investors want more proof the Fed will slow its rate hikes.
Economy & Finance:
A consulting client asked me for my opinion on when the Federal Reserve will pivot from the current tight credit environment back to loose credit. I told her that the FOMC would likely wait until the US was in a deep recession or in the throes of a credit market freeze or collapse. When could that be? They probably won’t get desperate about a recession until at least the spring of 2023. But a credit freeze — much like the one that England recently suffered — could happen at any time. In the interim, we can expect more Dollar strength on the Forex, and short selling of precious metals by institutional investors and speculative traders.
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UK scraps tax cut for wealthy that sparked market turmoil.
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Video from Neil McCoy-Ward: And So It Begins… JWR’s Comments: Yes, there something fishy about Rishi. Take note that Rishi Sunak is a proponent of both a British CBDC and government-administered digital identification.
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From the Perpetual Cheering Section at CNBC: Stay the course? Bear market reminders for long-term investors.
Commodities:
The US Diesel Crisis Is Here and It’s Spreading Along the East Coast.
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A report from a globalist think tank: October 2022 Commodity Market Outlook: Pandemic, War, Recession: Drivers of Aluminum and Copper Prices.
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Over at OilPrice News: U.S. Accelerates Three-Tier Plan To Reduce Oil Prices. JWR’s Comment: The mid-term elections are just two weeks away. Surely, this is all just a coincidence…
Derivatives:
Mark-to-market losses from LDI derivatives could total $167 bln – JPMorgan analysts.
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Credit Suisse announces ‘radical’ restructuring with Saudi backing. JWR’s Comment: This may be their Lehman Moment, with some far-reaching implications.
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Analysis: Under water – How the Bank of England threw markets a lifeline.
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LDI Chaos Likely to Hurt Private Equity and Property Allocations.
Forex & Cryptos:
The Dollar’s Global Wake of Destruction.
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Convergence of Fed-ECB Interest Rate Biases Sends Dollar Lower.
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U.S. jury finds Credit Suisse did not rig forex market.
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Schwab Market Perspective: No Stopping the Fed.
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UK police council reports there are officers in every unit trained for crypto enforcement.
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CoinJournal reports: Bitcoin rallies to $20,000. Here is the next potential target.
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Just as expected: Regulators propose first global rules before ‘crypto winter’ thaw.
Tangibles Investing:
Tamara Keel describes a pistol that is both practical and investment-worthy: FN High Power: A Classic Rebooted.
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Institutional Investors Swing for Collectibles Home Run.
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The State of the Collector Car Market: Very, Very Good. A pericope:
“This year’s Monterey Car Week auctions set a new record for collector car sales, bringing in $469 million, 18.9% higher than the previous record from 2015 of $394.5 million with a 78% sell-through rate and an average sale price of $590,713 were reported by auction companies.
According to some commentators, the current bear market, increasing inflation and recession fears were the motivating factors behind Monterey’s record prices, forcing investors to hunt for alternative locations to put their money, much like they did during earlier, sharp declines in stock prices.”
Provisos:
SurvivalBlog and its Editors are not paid investing counselors or advisers. Please see our Provisos page for our detailed disclaimers.
News Tips:
Please send your economics and investing news tips to JWR. (Either via e-mail or via our Contact form.) These are often especially relevant because they come from folks who closely watch specific markets. If you spot any news that would be of interest to SurvivalBlog readers, then please send it in. News items from local news outlets that are missed by the news wire services are especially appreciated. And it need not be only about commodities and precious metals. Thanks!