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Dollarization Can Lead to ‘Economic Contraction and Collapse’ of Argentine Economy — Former US Treasury Official
20.8.2023
The U.S. chairperson of the Official Monetary and Financial Institutions Forum (OMFIF) has characterized the Argentinian presidential hopeful’s plan to fully dollarize the economy as “a far too risky gamble.” Mark Sobel said full dollarization without an exit policy “could...
World Gold Council’s Mid-Year Report: Gold Set for a Neutral Second Half Under Economic Uncertainty
9.7.2023
On July 6, 2023, the World Gold Council (WGC) released its 2023 Mid-Year Outlook, revealing that a “strong first half for gold is likely to give way to a more neutral H2.” According to WGC researchers and market strategists, central banks are “nearing the end of their...
Commodity Strategist Mike McGlone Predicts a Recession as Top Catalyst for Gold’s Rise Above $2,000
24.2.2023
This week, Bloomberg Intelligence Senior Macro Strategist Mike McGlone shared his March outlook and noted that the “top catalyst” that could push gold above the $2,000-per-ounce range is a recession. McGlone further explained in an update about bitcoin and the Nasdaq that a...
Escalating Bank Runs Spur Chinese Government to Require Approval for Large Cash Transactions
7.7.2020
A series of bank runs has prompted the Chinese government to begin requiring approval for large cash deposits and withdrawals at commercial banks, starting with banks in a northern province. Recently, two bank runs happened within a week as people lost faith in financial institutions amid...
ECB in Full-On Emergency Mode as ‘Unprecedented Decline’ Hits Eurozone
2.5.2020
The euro area is facing an “unprecedented” economic decline, the worst since records began. European Central Bank (ECB) President Christine Lagarde paints a picture of a central bank in full-on emergency mode after the bank kept its interest rates unchanged. Unprecedented Economic...