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.
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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?
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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…
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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…
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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
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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.
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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…
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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.
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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.
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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?
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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
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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.
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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”
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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.
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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.
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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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World Bank sees gold “playing critical role in the financial system.” as asset managers, central banks look to hedge against instability with gold. The guide states gold’s relevance as a global monetary asset is a lasting one, listing recent economic and geopolitical challenges proving gold’s validity as a store of value during periods of uncertainty
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Many American founders warned us about paper money. Thomas Paine summed it up best: “The evils of paper money have no end.” In an 1814 letter to Thomas Cooper, Thomas Jefferson was prophetic. “Every thing predicted by the enemies of banks, in the beginning, is now coming to pass. We are to be ruined now by the deluge of bank paper.”
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Gold is rallying regardless of what’s happening in other markets. And while there are signs of a top, gold appears to simply not care about them at the moment. In particular, the gold price keeps on forming daily reversal candlesticks, which “should” be tops, but they likely aren’t.
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Gold broke another intraday record on Monday. This continues the gold bull run that has been ongoing for several weeks. But there is something else happening that’s quite unusual. Treasury bond yields are also rising. As gold was setting records on Monday, yields on the long end of the Treasury curve were also rising.
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This week, Your News to Know rounds up the latest top stories involving gold and the overall economy. Stories include: A World Bank insider explains central banks’ gold buying surge; yet another all-time high for gold’s price, , and just how strange is the lack of price action in silver? Exactly why are central banks de-dollarizing with gold?
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Even after all this country has seen in recent years, some still consider those stocking up on food, ammo, bullion, and other emergency essentials as a little bit nuts. Despite some close brushes with disaster, including the 2008 financial crisis and disruptions associated with COVID-19, it somehow seems hard to believe the nation’s critical systems are at risk.
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Gold’s moving higher and… the USD Index is moving higher as well, which one is faking it? In the recent past I commented on gold’s performance as being similar to what we saw in 2011. Today’s move higher makes the similarity less clear, but still intact.
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There is a big disconnect between what the White House would like you to believe about the economy, and how most Americans are feeling about it right now. Some members of the Federal Reserve board, including Chairman Powell, tried to listen to the concerns that a handful of panelists had, and the result wasn’t surprising… The Fed got an earful
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Holding fiat currency is risky business and that’s not going to change any time soon. Currency risk is one of the factors driving the recent rally in gold and silver. It’s no coincidence that the recent gold and silver rally started as the U.S. ramped up threats to seize Russian dollar assets. However, using the dollar as a foreign policy hammer is just…
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Economics once again defied the will of politicians — this time in Minneapolis, Minnesota. The Minneapolis City Council wanted to help out Uber and Lyft drivers, so it passed an ordinance setting a minimum wage for drive-share drivers where companies such as Uber and Lyft must now pay their drivers a minimum of $1.40 per mile
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This week, Your News to Know rounds up the latest top stories involving precious metals and the overall economy. Stories include: Gold price shatters $2,200 to set new record – what’s next after yet another all-time-high gold price?; lessons from Turkey’s financial crisis, and China’s dramatic influence on the gold market.
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