Good Reads
Gold and silver prices crater, on pace for worst trading day ever
Gold and silver prices both cratered on Friday as investors looked to book profits on the metals, which have rallied to record highs in recent weeks. Spot gold plunged over 12% by midday, wiping out its entire gains this week. Silver took a bigger blow, down as much as 33% to around $75 an ounce. The metals are now tracking towards its worst daily performance in history. Read on »
Gold’s “Fattest Profits” in History
The lesson was that central banks can delay price discovery. They can’t prevent it. I’m telling you this because central banks aren’t fighting gold anymore. They’re front-running it. The people who print the money would rather own gold than hold their own paper. I think they know the price is wrong. Read on »
Trump nominates Kevin Warsh for Fed chair to succeed Jerome Powell
President Donald Trump on Friday named Kevin Warsh to succeed Jerome Powell as Federal Reserve chair, ending a prolonged odyssey that has seen unprecedented turmoil around the central bank. Read on »
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