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World to face stress test as dollar LIBOR spikes and bond rout deepens
By Ambrose Evans-Pritchard
The Telegraph, London
Sunday, October 30, 2016
Surging rates on dollar LIBOR contracts are rapidly tightening conditions across large parts of the global economy, incubating stress in the credit markets and ultimately threatening overvalued bourses.
Three-month LIBOR rates -- the benchmark cost of short-term borrowing for the international system -- have tripled this year to 0.88 percent as inflation worries mount.
Fear that the US Federal Reserve may have to raise rates uncomfortably fast is leading to an increasingly acute dollar shortage, draining global liquidity.
"The LIBOR rate is one of the few instruments left that still moves freely and is priced by market forces. It is effectively telling us that that the Fed is already two hikes behind the curve," said Steen Jakobsen from Saxo Bank. ...
... For the remainder of the report:
http://www.telegraph.co.uk/business/2016/10/30/world-to-face-stress-test...
Ron Paul Endorses the Only Congressional Candidate
Who Is Campaigning on Returning to the Gold Standard
Former U.S. representative, presidential candidate, and chairman of the House Subcommittee on Monetary Policy, fiat money's fiercest foe, Ron Paul, has endorsed Daria Novak, the Republican candidate for the U.S. House of Representatives in Connecticut's 2nd District.
Paul said: "Daria Novak will be a forceful advocate for limited, constitutional government, individual liberty, and sound money on Capitol Hill. I am pleased to endorse her candidacy.”
Novak also has been endorsed by former presidential candidate and gold standard proponent Steve Forbes and by the New York Sun, among other friends of sound money. Novak also been endorsed by gold standard and sound-money advocates George Gilder, Lawrence Kudlow, Jimmy Kemp (Jack's son), and Jeffrey Bell. Forbes called Novak a "prosperity heroine."
Contribute to Novak's campaign $500, $250, $100, $50, or whatever you can afford of the fiat money that is eroding in your checkbook. As the Sun wrote, "She vows to crusade" on the gold standard "as key to getting job creation, economic security, and upward mobility back at a sizzling rate."
To donate to Novak's campaign, please visit:
http://novakforcongress.org/donate/
Novak will personally thank all contributors.
Give Daria your generous backing to put a voice for gold in Congress.
This message was authorized by Daria Novak for Congress.
Help GATA by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:
http://www.goldrush21.com/order.html
Or by purchasing a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:
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