Gold has all the potential to go unprecedentedly high. But silver will be gold on
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Precious metals news
Gold and silver prices are taking it on the chin. They’re bucking seasonal trends. They haven’t been responding to catalysts that would normally push them higher. They’re one of the worst performing asset classes this quarter and year. So are we wrong? Is it time to pack it in? There are a myriad of ways to answer that, the biggest of which is Mike’s core reason why we’re not wrong about where they’re headed.
In the year 1202 in the town of Albi in southern France, the local market price for a measure of wheat was 34 grams of silver. Decades later in the year 1290, the price of wheat was exactly the same…
The State of the Small Business: Hiring Problems, Inventory Shortages, and Big Price IncreasesAug 10, 2021 - 12:55:41 PDT
In the current era of Stimulus Good Times, with its huge kinks.
Elizabeth Warren Wants the $3.5 Trillion Budget Plan To Help the IRS Target ‘Wealthy Tax Cheats’Aug 10, 2021 - 12:53:55 PDT
Sen. Elizabeth Warren said revitalizing the IRS budget would allow it to "go after wealthy tax cheats."
The White House Says Closing the ‘Tax Gap’ Will Help Pay for the $1 Trillion Infrastructure BillAug 10, 2021 - 12:51:17 PDT
Earlier this year, IRS commissioner Chuck Rettig told the Senate Finance Committee that the current gap is approximately $1 trillion, thanks in part to the growing popularity of cryptocurrencies, whose taxable transactions the IRS did not make a priority until recently.
Late on Sunday night, $4 billion worth of gold was dumped onto the market during thinly traded hours. This caused the latest in a long line of ‘flash crashes’ for the gold and silver price. How is this allowed to happen, and where to from here? Join Mike Maloney and Adam Taggart to get their thoughts.
Consumer Inflation Likely To Be Another Scorcher in July, Economists SayAug 10, 2021 - 11:33:13 PDT
The surge in consumer prices has likely peaked. In July, inflation was about as hot as it should get post pandemic, economists say.
I’ve received a lot of questions lately about how Treasury Inflation-Protected Securities or “TIPS” work in this type of environment, so I figured I’d write a quick piece about it.
The Bank of England is concerned about consumer price inflation. But deflation might be more likely.
Aug 10, 2021 - 11:17:11 PDT
A CBO report that might have sunk legislation in an earlier era was greeted with a bipartisan shrug.
Some say that issuance of central bank digital currencies will transform the international monetary status quo by eroding the US dollar’s dominance of cross-border payments and greatly reducing transaction costs. But this is not going to happen.
On August 15, 1971, the last remains of what had been a magnificent monetary system died a terrible death, and the American academic, political, business, and media elites led the cheers. The Dow Jones Average jumped by more than 32 points the next day.
President Biden’s ridiculously high spending proposals require equally ridiculous tax proposals. Among the craziest proposals is a massive increase in the capital gains tax rate. According to the Tax Foundation, Biden’s proposal would raise the top federal rate on capital gains tax to 43.4 percent.
While the Senate vote on the $1.2 infrastructure package is ongoing as of this writing, the chamber now has enough votes to pass the legislation and send it to the House.
Small Businesses "Losing Confidence In The Economy" On Record Labor Shortages, Soaring InflationAug 10, 2021 - 08:56:53 PDT
Small business owners grew less confident in the economic recovery in July amid labor shortages that hit a fresh, 48-year record high, according to the latest NFIB survey released on Tuesday. The NFIB Small Business Optimism Index decreased in July to 99.7, a drop of 2.8 points, reversing June’s 2.9-point gain.
People are fed up with COVID restrictions...
It has been one of the longest periods in history where the market has not had a test of its 200-dma. The only questions are when and what will cause it?
Michael Lebowitz commented on San Francisco Fed President Mary Daly's comment "High inflation numbers, in my opinion, do not indicate that the Fed should reverse direction."
Jim Chanos Says the Market Is Entering Risky Phase and Retail Investors May Be Left Holding the BagAug 10, 2021 - 07:29:23 PDT
“The problem with getting more people, retail, involved is that it always seems to happen toward the end of every cycle. Retail wasn’t there at ’09 at the bottom. They weren’t there in ’02 after the dotcom bubble collapsed. They were certainly there at ’99,” Chanos said on CNBC’s “Squawk Box” on Tuesday. “So the problem in the last few cycles as I see it is that ...
Prices are rising throughout the US economy. Federal Reserve Chairman Jerome Powell keeps telling us this inflationary surge is "transitory." But transitory doesn't mean what you think it means. The truth is higher prices are forever.Here's just a sampling of the price increases we've seen over the past few months.