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Welcome to the PMBug forums - a watering hole for folks interested in gold, silver, precious metals, sound money, investing, market and economic news, central bank monetary policies, politics and more. You can visit the forum page to see the list of forum nodes (categories/rooms) for topics.

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Weekly iScrap Update: Copper Surges & Steel Spirals - Insights for Scrappers​

📈 Check Scrap Prices: https://iScrapApp.com/ - Join us in this week's iScrap Report as we delve into the latest trends and developments in the scrap metal market. From copper's significant milestone to nickel's encouraging comeback and the steady pace of aluminum, we cover the essential updates you need to know. Plus, we examine steel's continued downturn, the promising rise in catalytic converter prices, and the broader implications of geopolitical events and cryptocurrency trends on the metal industry.


14:47

👉 Read more: https://iscrapapp.com/blog/weekly-scr...

🎁 DeWalt Giveaway: https://gleam.io/ckZp3/dewalt-giveawa...
 

 

Morning Bid: Treasuries torpedoed, Tesla tanked​

March 15, 2024

A look at the day ahead in U.S. and global markets from Mike Dolan
With next week's Federal Reserve meeting up close and personal - once a hot favourite date for a first rate cut - this is not the outcome the bond market bargained for at the turn of the year.

A second U.S. inflation disappointment in the space of a week, the biggest annual oil price gains since 2022 and a very real chance the Bank of Japan ends its long-standing negative interest rate policy as soon as Tuesday all took a toll on Treasuries over the past 24 hours.

 

Take Five: Is Bank of Japan ready to exit negative rates?​

March 14 (Reuters) - The week ahead is rammed with rate setting meetings by heavyweight central banks from the U.S. Fed to the Bank of England, from Switzerland and Norway to Mexico.

But one question is dominating markets - will the Bank of Japan finally gear up to exit negative rates?

Here is your week-ahead look at global markets from Rae Wee in Singapore, Lewis Krauskopf in New York and Dhara Ranasinghe, Bill Schomberg and Karin Strohecker in London.

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Fearnleys Week 11

Drewry - WCI 14 Mar

 
 

Everyone Is Underwater On Their Car Loans As Values Plummet​

Every year, the price of a new car ticks ever upwards. Loans get longer, yet monthly payments are always on the rise, leading to an epidemic of folks underwater on their loans. Now, there’s a new complicating factor: Used car prices are falling, meaning folks are getting less for their over-leveraged trade than ever.

A new report from Edmunds looked at used car prices compared with trades that have negative equity and found that a drop in the former has led to a steep rise in the latter. According to the report, this isn’t even unexpected — it’s a natural progression from the lockdown-era used car boom. From Edmunds:

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Why Isn't the Economy As Exuberant as the Financial Markets?​

Mar 16, 2024


17:39
 
Nothing to see, can listen in one tab, surf the forum in a different tab. Talks a lot about using a financial crisis to herd people into a central bank controlled digital currency. Good stuff in this one.

Financial crisis survival guide: actionable steps w/ John Rubino​

Mar 16, 2024

47:19
 


 

Funds cover CBOT soy and corn shorts, snapping bean selling streak​

NAPERVILLE, Illinois, March 17 (Reuters) - Speculators covered short positions in Chicago corn and soybeans last week, chipping away at their still-massive bearish bets as futures continued climbing off multi-year lows.

In the week ended on March 12, money managers cut their net short position in CBOT soybean futures and options to 155,137 contracts from a record 171,999 in the prior week, predominantly on short covering. This was the first week with funds as net bean buyers in 17 weeks, ending a record-long selling stretch.

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TITANIUM Documentary: Innovations from Aerospace to Everyday Life​

Mar 18, 2024
Titanium is the 9th most abundant element in the earth’s crust and finds use in a variety of applications. Its most known role is as a very strong metal that is also extremely lightweight. Titanium’s use in aerospace engineering and top-of-the line sports car construction is a testament to its high strength-to-weight ratio and corrosion resistance.

Although titanium is recognized more for its use as a metal, it is extracted primarily to meet the demands for Titanium Dioxide. In fact, 93% of all titanium extracted worldwide is refined into Titanium Dioxide.

Learn about these facts, and much more, in this informative titanium documentary.

This documentary is brought to you by Temas Resources (CSE: TMAS | OTCQB: TMASF), a company focused on the advanced La Blache and Lac Brule Iron-Titanium-Vanadium projects in Quebec. Visit them at https://temasresources.com


18:19

00:00 Introduction
01:40 What is Titanium?
07:27 How is Titanium Mined?
10:49 A History of Titanium
15:46 The Future of Titanium
 

Rick Rule - It's Not As Bad As You Think...Maybe​

Patrick Vierra from SBTV spoke with world-renowned speculator/investor Rick Rule. Rick goes through the markets and precious metals and let's us know which metal may have an uranium tendency. Watch it here!


44:49

Discussed in this interview:
05:23 The Magnificent 7
08:10 A.I. and Big Tech
12:29 Upcoming FOMC
14:50 State of the US and the USD
18:27 Gold, Platinum, Uranium, Nickel, Silver
 
  • The total global commodity trading gross margin jumped from below $40 billion in 2018 to a record-high of nearly $150 billion in 2022.
  • Commodity traders have amassed up to $120 billion in cash over several successive years of record performance and profits.
  • The commodity trading industry currently has the means to reinvest strategically in long-term deals and strategic decisions.
 
 
 

Morning Bid: G7 disinflation cheer as Fed decides​

March 20, 2024

A look at the day ahead in U.S. and global markets from Mike Dolan

However the Federal Reserve spins it later, there's some relief in other G7 economies at least that the disinflation process hasn't completely stalled yet - offering some encouragement to badly bruised bond markets.

As the Fed gets set to announce its latest policy decision and quarterly economic and rate projections on Wednesday, markets seem fairly comfortable with the state of play.

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Mike McGlone: The Fed's Greatest Test - Markets or Inflation?​

Mar 19, 2024

Tom welcomes back Mike McGlone Senior Commodity Strategist for Bloomberg Intelligence to the show. Nothing much to see, can listen in one tab, surf the forum in a different tab. 43 mins long.

Mike discusses the current state of financial markets, with a particular focus on gold and Bitcoin. He suggested that investors should consider having exposure to both as part of a diversified portfolio, as they serve different purposes. There has been a shift in investor sentiment towards digital assets, with significant outflows from gold ETFs and inflows into Bitcoin ETFs. McGlone also cautioned that the US stock market is overdue for a correction, which could impact both gold and Bitcoin.

Regarding the current state of the financial markets, McGlone believes the US stock market is overvalued compared to the rest of the world, and a reversion could lead to a deflationary environment benefiting gold, crude oil, and copper. He also expressed concerns about the relationship between the US and China, stating that a conflict could have significant implications for the global economy.

Regarding gold, McGlone noted its outperformance compared to the S&P 500 since the Fed started tightening in late 2021. However, he also mentioned a gap in the S&P 500 E-minis at around 4600, which could lead to a normal correction in the stock market, benefiting gold by flushing out weak longs and creating a more stable environment.

The interview also touched upon inflation, deflation, and the US dollar. While there has been a deflationary impulse in commodities, inflation is being driven mostly by services due to unprecedented money pumping measures by the Fed. The US dollar will remain unstoppable compared to other fiat currencies, but open discourse is crucial for maintaining its value and strength.

The speaker added that a significant test for the US stock market could trigger a catalyst needed for the West to start driving gold prices along with the East. When this reversion to the mean occurs in the overvalued US stock market, it will have a profound impact on markets. They also suggested following Mike McGlone, an analyst who covers the gold and commodities markets, on Twitter for more information on these topics.




Time Stamp References:
0:00 - Introduction
0:33 - Bottoms on Commodities
3:09 - Gold, ETFs, & Bitcoin
8:54 - Metals & Recession Risks
11:40 - Thoughts on Silver
13:50 - Equity Markets & Recession
18:44 - U.S. Recession Risks
21:20 - Rate Hike Lag Effects
24:06 - Yield Curve Thoughts
26:17 - Elections & Market Volatility
29:23 - Commodities & Deflation
31:12 - Q.E. & The Dollar
35:06 - Gold East Vs. West?
37:28 - Gold Vs. Equity Returns
39:15 - Mean Reversion
40:13 - M2 & Equity Prices
41:46 - Wrap Up
 

Weekly iScrap Update: Copper Surges & Steel Dips - What's Next for Scrap?​

📈 Check Scrap Prices: https://iScrapApp.com/ - Join us in this week's iScrap Report as we dive into the tumultuous shifts in the scrap metal market. We'll explore the significant rise in copper prices due to operational cutbacks in China, the ongoing decline in steel and iron, and the fleeting increase in catalytic converter prices. Discover how these changes affect the market and what they mean for the future. Tune in for an insightful analysis and strategic recommendations for navigating the current landscape. 17 mins long.

👉 Read more: https://iscrapapp.com/blog/weekly-scr...

 

Somali pirates' return adds to crisis for global shipping companies​

  • Pirates had been dormant for nearly a decade
  • 2008-2014 attacks cost the global economy billions of dollars
  • Recent pirate raids are increasing costs for shippers
  • Pirates take advantage of security vacuum left by Houthi strikes
MOGADISHU, March 21 (Reuters) - As a speed boat carrying more than a dozen Somali pirates bore down on their position in the western Indian Ocean, the crew of a Bangladeshi-owned bulk carrier sent out a distress signal and called an emergency hotline.

No one reached them in time. The pirates clambered aboard the Abdullah, firing warning shots and taking the captain and second officer hostage, Chief Officer Atiq Ullah Khan said in an audio message to the ship's owners.

"By the grace of Allah no one has been harmed so far," Khan said in the message, recorded before the pirates took the crew's phones. The company shared the recording with Reuters.

A week later, the Abdullah is anchored off the coast of Somalia, the latest victim of a resurgence of piracy that international navies thought they had brought under control.

The raids are piling risks and costs onto shipping companies also contending with repeated drone and missile strikes by Yemen's Houthi militia in the Red Sea and other nearby waters.

 

Morning Bid: Markets feed off unfased Fed and SNB jumps gun​

March 21, 2024

A look at the day ahead in U.S. and global markets from Mike Dolan

With markets already cheering the Federal Reserve's restated consensus on three interest rate cuts later this year, the Swiss National Bank added spice on Thursday with a surprise rate cut that sets central bank easing speculation alight again.

With bets on the first rate cuts from major central banks mostly settling on June or July, the SNB jumped the gun with its first rate reduction in nine years - cutting its main policy rate by a quarter point to 1.5% as it slashed inflation forecasts.

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Gold's Rise, Silver Sentiment and Uranium's Fundamental Shift: Rick Rule​

Mar 20, 2024

Rick Rule believes the uranium market is changing before our eyes and the supply-demand dynamics have shifted ever further in favor of investors. Rick lays out why, although the easy money has been made, the sure money lies ahead in the uranium sector, along with giving his thoughts on gold reaching all-time highs, why he loves that silver is hated, and much more.

Nothing to see, can listen in one tab, surf the forum in a different tab. 58 mins long.

 
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