In a year marked by no emergency pandemic assistance, no national crisis of any kind… and characterized by low unemployment rate as well as an expanding economy (at least as indicated by headline GDP growth measures), the annual budget deficit is still projected to land at $1.7 trillion according to the Congressional Budget Office.
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If you don’t already realize that dedollarization is happening, there’s no clearer proof than BRICS Pay. BRICS Pay is a new blockchain-based payment system that enables members of the BRICS countries (Brazil, Russia, India, China, and South Africa) and their partners to make financial transactions in a whole new way.
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“This may be the most dangerous time the world has seen in decades.” That’s according to JPMorgan Chase CEO Jamie Dimon. His alarming statement accompanied the bank’s latest earnings release. Dimon is concerned about geopolitical strife in the Middle East, Ukraine, and elsewhere. He is also alarmed by rapidly deteriorating U.S. finances.
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It appears we can say officially there is no consensus on the issue of whether the U.S. economy is in for a recession. March 2022 was the first time in this current cycle of tightening that the Federal Reserve raised interest rates. A month after that initial increase, economists polled by Reuters pegged the chances of recession at 25%
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There is a lot of talk in financial circles about the shift in the U.S. economy toward a “cashless society.” Naturally, there are both benefits and drawbacks to such a radical change. Because of the required technological progress, many reports focus on the advantages of an economy that goes cashless. For example, the IMF claims…
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Once you receive a retirement plan distribution, then you have some planning to do. One part of that planning is deciding how you are going to roll over the funds into any new vehicle(s) and begin to enjoy the fruits of your labors. The IRS website nicely summarizes the main reason why many Americans who are saving for a stress-free retirement would do this…
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This week, Your News to Know rounds up the latest top stories involving gold and the overall economy. Stories include: The not-so-hidden Chinese crisis, what we can expect from gold in the near-term, and a reminder on why only gold bullion cuts it: The Chinese economic slump and the accompanying rush to gold
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When Augusta’s director of education Devlyn Steele presented his 2023 outlook back in January, he suggested the prevailing theme of the economic year could be one of uncertainty. I’m not sure even he expected to hit the nail on the head quite as squarely as he apparently did
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Gold, silver, and miners have been declining substantially recently, just as the USDX has been soaring. But all (good?) things come to an end, right? While the above is up for debate, it’s definitely true that no market moves up or down in a straight line *cough* except for silver *cough* without periodic corrections…
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This week, Your News to Know rounds up the latest top stories involving gold and the overall economy. Stories include: The Costco gold rush, the indebted legacy of the modern statesman and unpacking IMF data surrounding the U.S. dollar’s global forex share. What we learned from Costco’s foray into gold bullion…
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The California Department of Financial Protection and Innovation (DFPI), in collaboration with the federal Commodity Futures Trading Commission (CFTC), has launched a significant legal battle against Regal Assets LLC, the Southern California-based precious metals dealer and former Bullion Dealer of the Year.
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We’ve witnessed a fascinating interplay between gold prices, economic data, and ETF movements. Gold prices have erased a bounce from this week’s steep plunge in London trade, dropping back to 6-month lows against the Dollar and reflecting the outflows from gold-backed ETF trust funds such as the GLD.
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The threat of stagflation has been lurking about for some time on the American economic scene. Surprising considering just how robust the data has been that normally points to a sputtering economy. So far all we’ve seen is the inflation part of that equation, but analysts are concerned the “downturn” portion is just a matter of time.
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It happened! Junior miners moved to new 2023 lows! If one opened a short position in GDXJ this year and they hold it, they are profitable. The question – of course – is if junior miners and the rest of the precious metals sector are going to continue to move lower from here or will they bottom, just as they did previously when they were trading at similar levels.
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Here’s something you don’t want to hear from your political leaders, especially in the federal government: “Our financial ship is sinking.” Yet that’s exactly how Tennessee Representative Tim Burchett recently described the situation. He made this statement because the U.S. government can’t reach a resolution that would keep its own operations funded.
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This week, Your News to Know rounds up the latest top stories involving gold and the overall economy. Stories include: Investors under-educated on gold, an update on Russia’s gold dealings, and who owns the London Metals Exchange?
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Representatives in the U.S. House have raised the curtain on the latest round of budget theater in Washington DC. The actual conservatives in Washington can once again be seen fighting a futile rear-guard action to hold the line on spending. The only real question is whether they will relent before House Speaker Kevin McCarthy cuts another deal with Democrats
Full Article →Despite the global stock markets witnessing their steepest weekly drop in six months, gold has held its ground, maintaining a trading range that’s the tightest we’ve seen in five years. Shifting our focus to government bonds and interest rates, these elements act as the market’s pulse. We’ve observed a significant rise in interest rates,
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Despite his accolades, Krugman has made some wildly inaccurate forecasts. For example, he claimed in 1997 that the Internet’s impact on the economy would be about the same as the fax machine. In 2012, he said the euro would collapse “in a matter of months, not years.” I can forgive him for failed economic projections, but this?
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Start talking precious metals, and the first image that typically pops into someone’s head is an image of a shiny piece of gold. It’s understandable. Gold always seems to have a certain allure that doesn’t always translate to silver. Maybe part of it’s the color of the metal. There’s an exoticism to gold’s appearance that doesn’t apply as readily to silver…
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Whoever requested the extra portion of signs from gold and gold stocks certainly didn’t have to wait for long. Gold stocks severely underperformed gold once again, and this means that the end of the rally in gold is probably near. It might or might not be completely over just yet.
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Liberty Safe, the nation’s largest manufacturer of gun safes, recently fell into hot water. The company provided the access code for a customer’s safe to FBI agents who were executing a search warrant. Some were not happy to hear the company cooperated with the FBI’s request, particularly given that many perceive case as politically driven and illegitimate.
Full Article →Today, we are turning our gaze towards the East, focusing on the gold market in China, which has been a hub of activity recently. Gold prices in China, the world’s leading consumer and central-bank buyer of the precious metal, experienced a five-day run of new record highs before snapping back.
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Did you know that Bidenomics is actually a thing? And that it’s supposed to be a good thing? It wasn’t always that way. Once upon a time, the term “Bidenomics” was a snide pejorative, used by the president’s political opponents as a sarcastic term for the economic “strategy” they like to say has produced, the highest inflation and fastest interest-rate increases in 40 years
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Since May 2021, inflation persistently above the Fed’s 2% target has devoured our purchasing power, day by day. Making the cost of living impossible to predict and planning for the future increasingly uncertain. After a short period of cooling off, inflation is heating up again on multiple fronts. One rather unexpected price surge will make budgeting a challenge…
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Savings accounts today offer the highest yields in 15 years. Even so, they may not be the best way to protect your savings from inflation. When the Fed raises interest rates to curb inflation, ripple effects spread across the economy. Some of the impacts are negative (especially if you owe a lot of money), but others are positive for savers…
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The assault on individual rights is accelerating, and investors would be wise to think about the assets they hold in a world where the rule of law is failing. Last week, New Mexico Governor Michelle Lujan Grisham banned citizens from carrying firearms in Albuquerque, neither bothered nor slowed by recent U.S. Supreme Court affirmations of the 2nd Amendment.
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This week, Your News to Know rounds up the latest top stories involving gold and the overall economy. Stories include: Global gold holdings rise to highest level since 2012, a one-way flood of gold from West to East and are we missing out on platinum’s comeback?
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