Wyatt

Economics, Markets, and Trading (RT’s ≠ Endorsements, Likes = Bookmarks)

[World of Statistics @stats_feed]

Gold reserves (tonnes):

🇩🇪 Germany: 3,353
🇮🇹 Italy: 2,452
🇫🇷 France: 2,437
🇷🇺 Russia: 2,333
🇨🇭 Switzerland: 1,040
🇳🇱 Netherlands: 612
🇹🇷 Turkey: 540
🇵🇹 Portugal: 383
🇵🇱 Poland: 359
🇬🇧 United Kingdom: 310
🇪🇸 Spain: 282
🇦🇹 Austria: 280
🇧🇪 Belgium: 227
🇸🇪 Sweden: 126
🇬🇷 Greece: 114

[Massimo @Rainmaker1973]

This picture was taken in 1885 and shows Anandibai Joshi of India, Keiko Okami of Japan, and Sabat Islambouli of Syria

They became the first licensed female doctors in their respective countries.

All were students at the Woman’s Medical College of Pennsylvania, one of the few institutions in the world at that time that allowed women to study medicine.

Their achievements paved the way for many other women to pursue careers in the medical field.

[Jared Dillian @dailydirtnap]

This is basically the dream of all little boys

[Tracy Shuchart (𝒞𝒽𝒾 ) @chigrl]

☢️US, UK Lead Pledge to Triple Nuclear Power by 2050 at COP28

The US will lead a push at the COP28 climate summit to triple the amount of installed nuclear power capacity globally by 2050, marking a major turnaround for the controversial technology at the climate negotiations.

The declaration will call on the World Bank and other international financial institutions to include nuclear energy in their lending policies, according to a document seen by Bloomberg News. The US will likely be joined by the UK, France, Sweden, Finland and South Korea in the pledge to be signed Dec. 1 in Dubai, according to people familiar with the matter. https://t.co/odhFCsYIHX

[Special Situations 🌐 Research Newsletter (Jay) @SpecialSitsNews]

Druck on Janet:

Janet Yellen, I guess, because of political myopia, whatever, was issuing two years at 15 basis points when she could have issued 10 years at 70 basis points, or 30 years at 180 basis points.

I literally think if you go back to Alexander Hamilton, it was the biggest blunder in the history of the Treasury. I have no idea why she has not been called out on this. She has no right to still be in that job."

Via @NeckarValue

[Kuppy @hkuppy]

On the brighter side, uranium hit another 13-year high today. If you focus on bull markets, your days are more enjoyable…

[Michael Nicoletos @mnicoletos]

This is very important. The #euro was constructed to create a counter to the #USD dominance. The #Eurozone consists of 20 developed democratic countries, with a rule of law, a functioning capital market and one central bank (#ECB) to oversee it. Moreover, it’s the second biggest economic block. And yet it’s share in the #SWIFT payments system, after 22y, is decreasing.

How can one expect a #BRICS block of creating a new parallel #payments system to gain material traction, when it lacks all of the above?

#DXY #China #India #Brazil #Russia #SouthAfrica #CNH #CNY #Rubble #Rupee

[ʎllǝuuop ʇuǝɹq @donnelly_brent]

Good post on why US housing is not the problem, but Australia and Canada are more at risk.

@awealthofcs

https://t.co/YQd2bqzm4G

[Tracy Shuchart (𝒞𝒽𝒾 ) @chigrl]

China’s Gold Prices Surge, Hitting a Record Against the World

The market for bullion in China has surged this month, at times commanding a record premium over international prices of more than $100 an ounce, compared with an average over the past decade of less than $6. On Wednesday, an ounce of gold in Shanghai cost $2,007, about 6% higher than the price in London or New York, according to calculations by Bloomberg. https://t.co/6yWYWgCIt2

[Robin Wigglesworth @RobinWigg]

The world’s oldest living bond, still paying interest after 399 years. 🤩 thanks ⁦@ICE_Markets⁩ and ⁦@NYSE⁩ for letting it out for a day

[Nick Timiraos @NickTimiraos]

The Fed holds rates steady.

12 officials pencil in one more hike this year; 7 are ready to pause

The median participant projects two cuts in 2024.

[Kuppy @hkuppy]

G&R comes to similar conclusions as me on uranium. The math is pretty obvious. At some point, utilities will stop drawing down inventories and instead go out and buy uranium—except there isn’t much out there, due to the persistent deficits… https://t.co/MAE9uLaazZ

[Ronnie Stoeferle @RonStoeferle]

Relax, nothing to see here...

[Grant Williams @ttmygh]

Assuming this is legit (which it looks to be), this is extraordinary!

@TheKingCourt

[Kuppy @hkuppy]

Is Cantor also warning about an imminent price gap??

[Genevieve Roch-Decter, CFA @GRDecter]

JUST IN: Is oil going to $100?

U.S Crude inventories fell by WAY more than expected.

6.3 million barrels versus 2.1 million expected.

[The Kobeissi Letter @KobeissiLetter]

Mortgage payment to income ratios are now pushing as high as 40%.

This is above the 2008 peak of ~34% and by far the highest level in history.

It is now nearly ~1.7x more expensive to buy a home than to rent.

The problem is that supply is scarce and higher rates are only worsening that issue.

As rates rise, supply is falling and new homebuyers are bearing the cost.

It could be years before we see any sort of relief if the Fed keeps rates higher for longer.

Would you buy a home in this market?

[KanekoaTheGreat @KanekoaTheGreat]

.@DavidSacks analysis on BRICS adding Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE.

1. In terms of global GDP based on purchasing power parity, the original BRICS accounted for 32%, while the expanded BRICS now stands at 37%, surpassing the G7's 30%. More countries expressing interest could push BRICS' share to 45%.

2. The new BRICS collectively produces 54% of global oil, nearly double the G7's output, with the US remaining the top oil producer. If Venezuela, Algeria, and Kazakhstan join, BRICS could control 90% of global oil and gas trade.

3. BRICS boasts five of the world's six largest food producers: China, Brazil, India, Argentina, and Russia.

4. BRICS represents 46% of the global population and 36% of the global landmass. It also influences vital trade routes, including the Arctic sea route, offering a faster alternative to traditional paths via the Suez Canal.

5. BRICS aims to facilitate trade among its members using local currencies, not to establish a new reserve currency, but to reduce reliance on the US dollar in global trade, ensuring economic sovereignty.

6. BRICS has established key transportation corridors, such as a north-south route connecting Russia, Iran, and India and an east-west corridor through the Belt and Road initiative, encompassing the Persian Gulf, Red Sea, and Suez Canal.

7. These changes in BRICS' role in global trade routes have significant geostrategic implications, allowing it to bypass critical chokepoints and counter US efforts to encircle China.

In essence, BRICS seeks to settle global trade flows independently of the US dollar complex and reduce dependence on the dollar and SWIFT for international transactions.

[Financelot @FinanceLancelot]

Current unrealized losses in the US banking system is -$1.8 trillion out of only $2.2 trillion capital

With corporate taxes due Sep 15 & possible gov shutdown Oct 2, the general public has no idea the banks are already insolvent entering a nightmare liquidity scenario in October

[Townhall.com @townhallcom]

David vs. Goliath: Big Government's War on an Amish Farmer