Coming right out of the gate in January, the federal debt ran up against the debt ceiling, which at the time was $31.4 trillion. A months-long and highly combative back and forth ensued between Democrats and Republicans…one that wasn’t finally resolved until the very beginning of June and just a few days before “X Date,” when the government would have had no choice but…
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First it was the COVID economic panic that started in March of 2020. Then it was Biden’s disastrous mishandling of the military withdrawal from Afghanistan in 2021. Almost immediately following that disaster, the Biden administration went on a multi-trillion-dollar deficit spending spree that dramatically worsened inflation. Not long after, Biden led …
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If you want to build a house that can withstand the test of time, you can’t have a weak foundation. So you have to build a solid foundation. The same idea holds true for your financial “house.” Your retirement savings plan has to be built on a strong foundation. Don’t spend money you don’t have – Live within your means!
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This week, Your News to Know rounds up the latest top stories involving gold and the overall economy. Stories include: Central bank gold buying on track to shatter last year’s record, a different take on gold’s price and who wants a gold token instead of physical gold? 2023 may set another new record for central bank gold buying
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According to a Harris poll conducted for Bloomberg News, a whole lot of middle-class Americans are worried about the economy. In fact, the number who say they are worried about the economy has grown over the past year, even though inflation has steadily declined at the same time. 44% of middle-class Americans are “stressed” about the economy
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Gold didn’t just invalidate the move above $2,000. It moved even lower – that’s how we know the invalidation is real. And so are its consequences. After gold’s suspicious rally, we see a very real decline. And the decline in silver and mining stocks is even bigger.
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This week, Your News to Know rounds up the latest top stories involving gold and the overall economy. Stories include: Gold doesn’t want to leave $2,000, how the U.S. government has indebted you by around $100,000, and Canada releases 2023 coin from single-source mine, while firms like Citi are resuming the purchase of Russian metals
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Gold prices are flirting with all-time highs once again and investors are wondering if this time might be different. Perhaps gold (and silver) can finally break out of the range where they have been mired over the past 3-½ years? A breakout to higher prices is, in our view, both overdue and inevitable, however, the timing of a breakout remains impossible to predict
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Despite ongoing risks to the world economy posed by ongoing inflation and interest-rate challenges, there is another risk on the radar screen that experts suggest could be the most formidable of all through the foreseeable future: geopolitical tension. J.P. Morgan’s Jamie Dimon sounded the geopolitical “alarm,” suggesting tensions are set to impact global economy.
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Gold bugs hold a different definition of risk free, but for most of Wall Street and the investing public the assumption has been that there’s zero chance the U.S. government will ever default on its debt. The truth is finally dawning on this crowd. There is more than one way for the U.S. to default. The government might not welch on payments, but…
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Theoretically, it’s not really important to pick the exact top – it’s good to be just near it when making transactions. And to be 100% precise, all that matters is that the exit price is more favorable than the entry price for a given trade. And if the annualized rate of return is better than the risk-free rate of return (one that bonds provide), then it’s already very good.
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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?
Full Article →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
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