Gold has all the potential to go unprecedentedly high. But silver will be gold on
Site:
Precious metals news
Gold’s young upleg has so far mostly been fueled by stage-one gold-futures short covering, which still isn’t finished. The great majority of bigger stage-two gold-futures long buying is still coming.
Gold prices scaled an over nine-month peak on Friday, holding above the key pivot of $1,900 per ounce.
Building on the success of passing a full sales tax exemption on precious metals (HB 1874 and SB 1857) in 2022, lawmakers in Tennessee have set their sights on another pro-sound money effort: an in-state bullion depository.
Jan 13, 2023 - 13:12:15 PST
Delegate Chris Pritt has introduced House Bill 2333, the Legal Tender Act. This measure would eliminate taxes on the precious metals as well as reaffirm them as legal tender in the state...
Rep. Kevin McCabe has introduced House Bill 3, a measure to end sales taxes levied by cities and boroughs on purchases of gold and silver...
Russian nationals have set a record for buying gold in 2022, even exceeding the projections of the country’s Finance Ministry, according to a report by business publication Vedomosti citing sales data from major Russian banks.
JPMorgan Chase & Co. is looking to start clearing precious metals trades in Zurich, something that for years has been dominated by just two Swiss banks.
World Bank Makes Big Cut to Its 2023 Growth Outlook, Says Globe Is ‘Perilously Close’ to RecessionJan 13, 2023 - 12:23:49 PST
The World Bank slashed its global growth forecasts from projections it made in mid-2022 on the back of what it sees as broadly worsening economic conditions.
There is not a shred of historical evidence that the US economy needs a 2.00% inflation guardrail to thrive, or any fixed rate of inflation at all.
The Fed Sent $76BN To Treasury In 2022; It Is Now Sending $650 Million To Banks Every Day InsteadJan 13, 2023 - 12:11:39 PST
...After all, the Fed can always print whatever money it needs to plug the "deferred asset" hole. ... but we are confident that there are other much more important matters such as gas stoves and bitcoin criminals that the Senator would much rather distract the population with.
The Treasury has had to bail out the Bank of England for the first losses it has made on its quantitative easing programme since 2009, which resulted from rises in official interest rates.
The average price of eggs increased by 49%, butter/margarine by 34% year-over-year, CNBC reported as of November. Yet, with his first speech of the year, Federal Reserve Chair Jerome Powell addressed the issue of the Fed’s independence. Yes, the conference was on Central Bank independence. But how many Americans have any concern, or the slightest care for this?
Real Wages Fall for the Twenty-First Month as Rent and Food Prices Keep RisingJan 13, 2023 - 11:56:39 PST
The federal government’s Bureau of Labor Statistics (BLS) released new price inflation data today, and according to the report, price inflation during the month decelerated slightly, coming in at the lowest year-over-year increase in fifteen months.
Let's do some analysis of the Consumer Price Index, the best-known measure of inflation. The Bureau of Labor Statistics (BLS) divides all expenditures into eight categories and assigns a relative size to each. The pie chart below illustrates the components of the Consumer Price Index for Urban Consumers, the CPI-U, which we'll refer to hereafter as the CPI. The BLS weights these annually.
Jan 13, 2023 - 11:52:18 PST
Getting rid of the much-despised Internal Revenue Service would be a good idea. It’s unlikely to happen anytime soon.
Bank of England Sold All Bonds it Bought Last Fall amid Pension Crisis, First Big Central Bank to Sell Government Bonds Outr...Jan 13, 2023 - 11:51:05 PST
At first in baby steps, and then in big chunks. Remember the “pivot to QE” mongers at the time? What a hoot.
Jan 13, 2023 - 11:46:56 PST
The Greens forced a shutdown of nuclear power under Angela Merkel. Now they are both for and against coal, the dirtiest of all electrical power sources.
We need a new iteration of economics that advances beyond the obsolete, misleading statistical measurements of bygone eras.
"Catastrophic Outcomes": Davos Elite Worried About Global Volatility, Cost-Of-Living CrisisJan 13, 2023 - 11:40:54 PST
What happens when plebs can't afford bread, and the circuses aren't that entertaining? Nothing good. Which is why the cost-of-living crisis is the #1 problem, according to the World Economic Forum's Global Risks Report - an annual poll of 1,200 government, business and civil society professionals.
Currently China has the sixth-largest central bank gold reserve in the world, boosted significantly by its purchases in the last few months...