The total debt owed by the United States federal government has reached incredible levels. Today, the total is $34,541,727,970,599.17 – but by the time you read this article, it’ll probably be higher. I say “probably” because the debt is growing exponentially so when you read this, another few hundred billion will have been added
Full Article →Bars of gold are flying off the shelves in South Korean convenience stores. This is yet another example of the movement of gold from West to East. Korea’s largest convenience store chain, CU, has teamed up with Korea Minting and Security Printing Corporation (KOMSCO) to offer customers fingernail-sized gold bars.
Full Article →Gold was up 4 percent in April, despite some profit-taking, along with headwinds from a strong dollar and waning hope for an interest rate cut. Gold hit a new all-time high of 2,431 in April, but pulled back later in the month as hopes the Federal Reserve would cut interest rates in the near future faded.
Full Article →Factoring in sizeable over-the-counter (OTC) buying, gold demand charted its strongest first quarter since 2016. By including over-the-counter buying by investors, gold demand grew by 3 percent year-on-year, reaching 1,238 tons, according to data compiled by the World Gold Council.
Full Article →In a major legal victory, the SEC has secured a $76 million judgment against Red Rock Secured LLC and its top executives for defrauding retirement account holders. The judgment includes significant fines and permanent bans from certain financial activities for the individuals involved.
Full Article →There are cracks in the foundation of dollar dominance. Could Chinese gold be the straw that breaks the dollar’s back? In a column published by the Telegraph, economist Julian Jessop points out that people have been predicting the dollar’s demise for decades. Eventually, they’ll be right.
Full Article →Confidence in institutions such as the Federal Reserve may be falling, but it hasn’t fallen nearly as far or as fast as it should. Trillions of dollars, yen, euros, and yuan are invested according to central bank policy and propaganda. It isn’t going well. The U.S. economy is massively distorted, unhealthy, and hopelessly dependent on Fed stimulus.
Full Article →This week, Your News to Know rounds up the latest top stories involving precious metals and the overall economy. Stories include: Has gold been performing due to high inflation?, Iran gold sellers go on strike over sales taxes and the list of countries bringing their gold home grows (again). Gold’s price defies “hawkish” sentiment from the Fed
Full Article →“Pretty much everybody on the FOMC is talking from the same script right now,” said Guy LeBas, chief fixed income strategist at Janney Montgomery Scott. “With maybe one or two exceptions, policymakers pretty universally agree that the last few months of inflation data are too warm to justify action in the near term.”
Full Article →Central banks continued to steadily add gold to their reserves in March. On net, central banks globally increased their gold holdings by 16 tons, according to the latest data compiled by the World Gold Council. Buyers added 40 tons of gold to their reserves. This was offset by a net 25 tons in sales.
Full Article →If the hotter-than-expected March CPI data wasn’t enough to convince you, there is more evidence that the “cooling inflation” we saw late last year was transitory. The PCE data for March came out Friday – hotter than expected. You might be picking up on a theme here…
Full Article →President Biden’s decision to participate in the Ukraine-Russia conflict back in February 2022 has taken a new and dangerous turn this year. The U.S. dollar could suffer dramatically as a result. Before we explore that new development, we’re going to start by quickly summarizing some of the events that led the United States to this point.
Full Article →Breaking news: The Wall Street Journal announced the first bank failure of 2024… “Regulators are set to seize the troubled Philadelphia bank Republic First Bancorp and are near a deal to sell it to another lender, the fourth high-profile bank failure since last spring.” So what happened to Republic First?
Full Article →The Federal Reserve has a $34.5 trillion problem. And the problem is growing. Yes, I’m talking about the national debt. How is the debt the Fed’s problem? It hamstrings the Fed’s ability to fight price inflation. In a recent interview, Crescat Capital macro strategist Tavi Costa told Kitco News that soaring debt levels could ultimately render…
Full Article →Did you know Thomas Jefferson and many other prominent Founding Fathers predicted our current economic problems? No, they didn’t have a crystal ball. They didn’t need one. All they needed was an understanding of money and human nature. The founders recognized the “evils” of paper money…
Full Article →Big money managers are starting to jump on the gold bandwagon as inflation worries grow. Over the last few weeks, gold held its ground despite headwinds including a strong dollar and rising bond yields. Geopolitical tensions have supported safe-haven buying but it appears a new player is entering the market – hedge funds
Full Article →The Silver Institute released its 2024 World Silver Survey last week. According to the data, silver demand outstripped supply in 2023, for the fifth year in a row. The deficit was just over 142 million ounces. And the forecast for 2024 indicates that the annual production shortfall will nearly double to 265 million ounces.
Full Article →In addition to the already bad news we revealed last week, it looks like there is even more bad news for Biden. It appears like it’s becoming even more expensive to live in this country, no matter where you decide to put down roots or try to save for your retirement. So let’s take a quick look at why that could be…
Full Article →Americans throw away millions of dollars in coins every year. That’s because American money is junk. But that wasn’t always the case. In an article published by the Wall Street Journal, Reworld, a Pennsylvania waste management facility, claimed that Americans toss about $68 million worth of coins every year.
Full Article →When Will Gold & Silver Miners Believe in Their Product?
Miners spend billions of dollars every year pulling precious metals out of the ground. They toil mightily for years on end to produce these stores of value – but then they turn right around and sell all their gold and silver immediately in exchange for fiat currencies.
Full Article →This week, Your News to Know rounds up the latest top stories involving precious metals and the overall economy. Stories include: Sky-high gold forecasts by top names, why the Middle East escalation proves gold’s run isn’t driven by military conflict and could a surprise interest rate hike push gold’s price down?
Full Article →According to economist Lynette Zang, then, the primary threat to the banking system is the risk posed by higher interest rates to an industry that is built primarily on debt. And in her view, the scope of the problem is so vast that it means every single U.S. bank is insolvent right now
Full Article →Gold Tops and Silver is… Being Silver
The USD/YEN breakout is a fact and one that’s being confirmed. Gold now forms lower intraday highs. What’s next? No surprise here – gold, silver, and miners appear to have topped, so the next move is likely to be to the downside, just as I explained it in my previous analyses.
Full Article →Indians are known to have a love affair with gold. India ranks as the number two gold-consuming country in the world behind only China. But Indians are also pretty fond of silver. In fact, India is the world’s biggest silver consumer.
And Indian silver demand is surging.
One idea has become abundantly clear over the last four years: You can’t add 41% to the money supply and expect inflation to remain “transitory.” But that’s exactly what the Fed did over two years, after which President Biden picked up the ball in January 2021 and ran with it. The result has come to be known in the online media as “Bidenomics”
Full Article →After moderating credit card spending in January, American consumers pulled out the plastic yet again in February. Credit card balances surged, driving overall consumer debt up by another $14.1 billion – Americans now owe $5.05 trillion in consumer debt, according to the latest data from the Federal Reserve.
Full Article →Gold has surged to record highs of over $2,350 per ounce, and there is reason to believe this bull run has plenty of legs left. Gold dipped below $2,000 for the last time in mid-February. Since that time, it has gained nearly 18 percent. But despite the rally, a lot of investors in the West have not jumped on the bandwagon – yet.
Full Article →This week, Your News to Know rounds up the latest top stories involving precious metals and the overall economy. Stories include: Gold gains $100 in a week, gold’s gains are causing analysts to reassess the world order, and what are BRICS members Russia, China and India telling us about gold? Gold has been going up so fast analysts can’t keep track
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