Precious metals news

The government ran a record-shattering $3.1 trillion budget deficit in fiscal year 2020, and has already racked up $1.9 trillion in red ink for the first six months of this fiscal year.

The IRS tried to claw back $1,200 stimulus checks sent to deceased individuals. About 60,000 of those payments totaling $72 million were returned voluntarily.

"The recovery we are witnessing today is built on the crumbling foundations of the serial malinvestments which resulted from previous attempts to avoid the recessionary pain caused by the GFC. If structural inflation can be engendered, an escape from the worst ravages of overindebtedness may be...

And while Powell & Co pretend that they can continue business as usual for years to come, the repo market is not only cracking but banks, full to the gills with inert reserves and which increase by $30 billion every week, are on the verge of pulling a Mr Creosote...

The yield curve is no longer providing a tailwind to banks stocks.

The latest MMT nonsense is that savings can be printed.

Wealthy families may have to dig through decades of documents to figure out the taxes on an inheritance if this Biden proposal becomes a reality.

However as DB's equity strategist Parag Thatte points out in his latest positioning piece, "US inflation data surprises are at their highest in the 20-year history of the series with the last 10 data points almost 'off the chart'."

Bottom Line: Got gold?

In assessing financial stability risks, the Fed should look into a mirror.

I explore one of the least reported and potentially longest lasting legacies of the pandemic – mental health disorders.

Life as depicted in George Orwell’s 1984 “could come to pass in 2024” if lawmakers don’t protect the public against artificial intelligence, Microsoft’s president has warned.

If you wanted to design a system guaranteed to collapse in a putrid heap, you'd make moral hazard ubiquitous and you'd make the system 100% dependent on a hubris-soaked faux savior. Hey, that describes America's economy and financial system perfectly.

Treasury Secretary Janet Yellen urged congressional leaders to step up spending, saying the budget is more than a decade behind the times.

Treasury Secretary Janet Yellen is scheduled to appear before lawmakers on Thursday to offer an update on the economic recovery.

So, Mr. Powell, keep pumping (and face even bigger crises), or pull the rip cord now and deal with the carnage?

While few will care what Q1 GDP did in the last quarter according to the BEA's 2nd estimate of US economic output (when we already knew it came in superhot thanks to Biden's trillions in stimmies) some were curious what the Fed's preferred inflation metric, the core PCE would say, after the recent near-record prints in that "other" inflation dataset, the CPI.

The 340-page In Gold We Trust report is world-renowned and has been dubbed the “gold standard of gold studies” by the Wall Street Journal. Last year's edition was downloaded and shared more than 2 million times.

It’s dawning on many investors that our post-Covid financial problems may not be as easily solved as Washington claims.
The latest clue that trouble is brewing has come from the sudden and dramatic arrival of inflation. On May 12, it was revealed that the Consumer Price Index (CPI) had risen 4.2% year-over-year, the fastest pace since 2008.
Some tried to downplay concern by pointing out that the gains resulted from the “base effect” of comparing current prices with the artificially depressed “Covid lockdown” prices of March and April of last year. But that ignores the more alarming trend of near-term price acceleration.

Gold steadied off the key $1,900 level on Thursday, with gains held in check by an uptick in the dollar as investors awaited big-ticket U.S. economic data.