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. And it bears mention that most of these items are from the “tangibles heavy” contrarian perspective of SurvivalBlog’s Founder and Senior Editor, JWR. Today, we look at investing in the recently discontinued civilian production Colt ARs, including the 6920 series carbines. (See the Tangibles Investing section.)
Precious Metals:
AG Thorson, over at Gold-Eagle: Gold Price Forecast – Preparing For An Autumn Low
o o o
Silver price to hit $20 in 8 weeks, says expert who correctly called $1,500 gold
Economy & Finance:
At Zero Hedge: A Clueless New York Fed Is Examining Why Banks With Excess Cash Failed To Halt Repo Panic. Here is how the article starts out:
“When it comes to occasional (or chronic) dollar shortages, and the plumbing of the overnight lending market, which as everyone knows suffered a spectacular heart attack early this week when the overnight repo rate soared to 10%, the New York Fed and its open markets desk, is the authority on any potential plumbing blockages. Yet it now appears that the most important regional Fed when it comes to maintaining market stability, is just as clueless as the rest of us as to why the repo market froze up. sending funding rates to never before seen highs.
In an interview with the FT, New York Fed president John Williams, who earlier this year unexpectedly fired not only the head of the NY Fed’s markets desk, Simon Potter, arguably the most important trader in the world, manning the world’s most important trading desk but also the second most important person at the NY Fed’s “Plunge Protection Team”, the head of the Financial Services Group, Richard Dzina, said that the New York Fed is examining “why banks with excess cash failed to lend to the overnight money market, following a week that revealed cracks in the US’s financial plumbing.””
o o o
Reader G.P. spotted this from the Perma-Bulls at CNBC: The next recession could crush many with credit card debt
o o o
And Wolf Street reports: Debt-Wracked Chinese Companies Dump US & Other Foreign Assets, Become Net Sellers Overseas for First Time