• Trump Signals Flexibility Ahead Of G20, Gold Undersold?, Bitcoin Surges

    June 26, 2019
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    Trump On Tariffs

    In an interview with Maria Bartiromo Wednesday morning, President Trump commented on the state of Us-Chinese trade, stating that he is “very happy with where we are now. We’re taking in a fortune," and that it's "not a very good thing for China, but it is a good thing for us.”

    The US currently imposes 25% tariffs on $250 billion of Chinese goods. The remaining $350 billion is not subject to any tariffs--yet. Trump signaled some flexibility in negotiations with the Chinese, stating the he would be happy with a 10% tariff on the remainder. “I view tariffs differently than a lot of other people,” noting that since the US imposed the last round of tariffs, "our market has gone through the roof."

    Is Gold Poised To Fall?

    June saw a rush to safe havens on concerns over US-China trade negotiations and their impact on global equities. Gold matched annual highs a week into the month, then retraced slightly, and over the past week, prices rocketed up to six-year highs, peaking at $1,423 Tuesday.

    Gold futures were down Wednesday to $1,408 after less dovish comments by the Fed on Tuesday, and anticipation of a US-China trade agreement.

    Like The Glory Days Of Crypto

    Bitcoin moved sharply higher Wednesday, up 14% to over $12,900. The move marks the cryptocurrency's highest level since early 2018, and marking a weekly pop of 30%. Questions remain over the asset's volatility following its 74% decline of early 2018.


    CDM Staff

    The mission at Creative Destruction Media is to be the catalyst for the "process of industrial mutation that incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one."
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