"“If Brexit is used as an excuse, the central banks will print more money, QE4 in the U.S. is on the way and the depreciation in the purchasing power of currencies will continue,” Faber said in the interview from Hong Kong. “In that situation, you want to own some gold.” Bullion for immediate delivery rose [...]
"But as far as Brexit is concerned, if the global financial system were healthy, I don’t think Brexit would be that big a deal. I mean, does it really matter whether the U.K. is part of the EU in the scheme of things? Think of all the countries that are not part of the EU; [...]
"The Fed's willingness to begin pulling back on crisis era policy was already in doubt. "Now, Janet Yellen can blame her failure to raise rates on Brexit," said Peter Schiff, CEO of Euro Pacific Capital on CNBC's "Trading Nation" this week. "She could even use this as an excuse to cut rates back to zero [...]
"The successful Brexit vote, and the uncertainty and volatility it has introduced into the global markets, will provide the Federal Reserve with all the cover it could possibly want to hold off on rate increases in the United States without having to make the painful admission that domestic economic weakness remains the primary reason that [...]
"US policymakers should allow inflation to rise above official targets, the International Monetary Fund has recommended, as it warned that the risks of deflation still loom over the world’s largest economy." IMF advised the Fed to create more inflation to keep the economy running. It is as though the IMF and the Fed is now [...]
"Globally, the sovereign bond market is $58 trillion in size. The investment grade sovereign bond market (meaning sovereign bonds for countries with credit ratings above BBB) is around $53 trillion. And if you’re talking about countries with credit ratings of A or higher, it’s only $43 trillion. This is the ultimate backstop for over $700 [...]