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U.S. stock futures fell on Wednesday as the major averages looked to give back gains after rising for back-to-back sessions.
The Czech National Bank is about to go on a gold-buying spree. Incoming CNB Governor Ales Michl said he plans to increase the bank's gold holdings nearly 10-fold during a recent magazine interview.
Consumer debt climbed to a new all-time record in April as Americans continue to cope with rapidly rising prices.Total outstanding consumer debt rose by $38 billion in April, reaching a new record of $4.57 trillion, according to the latest data from the Federal Reserve. Total consumer debt was up 10.1% in April. It was the third straight month that consumer debt increased by $30 billion or more.
IMPORTANT SILVER MARKET UPDATE JUNE 8th: The Calm Before The Storm As Institutions Seriously Under Exposed To SilverJune 8, 2022
There is a calm before the Silver Storm ahead as Institutions are seriously underexposed to silver. Why? Because Institutions believe that business as usual will continue, they are lightening up their exposure to silver when they should be doing quite the opposite. In this newest update, I provide some fundamental analysis of the supply and demand aspects of the silver market...
Jeff Clark spoke with Brien Lundin and talked about the selloff in junior miners, how the Fed is stuck & can't raise rates as much as many assume, where his confidence in gold stocks comes from, when gold's next up-leg might come, & why a newsletter can be useful."
Gold prices rose on Tuesday after mounting inflation concerns boosted safe-haven bids for the precious metal and as a decline in U.S. Treasury yields added support.
All told, sound money allies introduced bills in 11 states to remove sales and income taxation on the monetary metals.
Retail demand for coins, rounds, and bars is now multiples of what it was prior to the COVID outbreak and the 2020 presidential election. Mints and refiners are still working to add enough capacity.
Instead of Uniting the World, Globalization Has Set Nation against NationJun 7, 2022 - 12:47:19 PDT
Total globalization has brought the world order into crisis. The difference of interests, conditions and opportunities, as well as the socioeconomic regimes of the participants initially implied risks of imbalances.
Massive conglomerates like Blackstone and BlackRock have been increasingly involved in the housing market since the crash of 2008.
Sky High Inflation May Mean Another Hefty Social Security Increase in 2023Jun 7, 2022 - 12:38:13 PDT
In 2022, Social Security recipients got a 5.9% cost-of-living adjustment (COLA). That was the largest increase in 40 years. The COLA coming in 2023 may be even bigger. Social Security calculates cost-of-living increases based on changes in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) from September to September each year.
Just making interest payments on the 2051 federal debt will exceed all tax revenues by 46 percent.
Jun 7, 2022 - 12:22:56 PDT
Driven by rising interest rates and the accumulation of federal debt, interest will nearly triple in the next 10 years and reach a historic high relative to the size of the economy by 2032.
Large debt is dangerous to the nation and to its responsible citizens. It is time for our leaders to take notice.
Washington’s financial prospects are depressing. The authoritative Congressional Budget Office (CBO) anticipates that coming years will continue to see federal spending outstrip revenues by a wide margin.
U.S. Treasury Secretary Janet Yellen on Tuesday urged Congress to approve $80 billion in funding for the Internal Revenue Service to help the agency reduce a huge backlog of tax returns and allow it to go after $600 billion in unpaid tax bills. Yellen said the agency was dealing with massive problems, including a "huge backlog" in working through tax returns, and lacked the personnel needed to carry out complicated audits of higher-earning taxpayers.
Atlanta Fed Slashes Q2 GDP Again, Now Just 0.9% Away From Official RecessionJun 7, 2022 - 12:06:04 PDT
Meaning The Fed is hiking rates into a recession.
Shinzo Abe’s camp says deficit is misunderstood, but top finance officials seek balanced budget, likening the nation to a ship heading for an iceberg
My last four letters featured highlights from the Strategic Investment Conference. In the final panel we talked about what’s coming. No surprise, much depends on what the Federal Reserve and other central banks do. Trying to control the inflation that arose from their own past choices, they will try to tighten policy without going too far. Their history of making such “soft landings” is not impressive.
Jun 7, 2022 - 11:39:59 PDT
“Without widespread adoption, a CBDC will be an expensive failure, and will do little to advance central banks’ goals,” senior research fellow Zach Meyers said. “The EU shouldn’t be distracted by the prospect of a digital euro -- which may sound impressive and exciting, but may give Europeans few benefits they can’t enjoy already.”