Precious metals are apparently waking up. And here is where you can find the best deals.
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China’s Crypto Crackdown Speeds Shift to Central Asia, North America MiningMay 26, 2021 - 10:42:33 PDT
A crackdown by Beijing is rapidly accelerating a shift in focus by makers of machines that 'mine' cryptocurrencies like bitcoin from China to North America and Central Asia as Chinese clients face an uncertain future.
Yellen Skips House Small Business Hearing, Defying Legal Requirement and Angering Both PartiesMay 26, 2021 - 10:38:14 PDT
Treasury Secretary Yellen is under fire from Democrats and Republicans alike for skipping an appearance before Congress required by law.
Retirees worried about rising costs may consider a reverse mortgage to take pressure off their investment portfolio and fight inflation.
“The constant refinancing of debt from companies of doubtful viability also leads to the perpetuation of overcapacity because a key process for economic progress, such as creative destruction, is eliminated or limited”.
May 26, 2021 - 10:20:27 PDT
On Thursday, Axios reported that several prominent Democrats have endorsed the idea of increasing user fees to help pay for any new infrastructure spending. "User fees have to be part of the mix," Sen. Mark Warner (D–Va.) told the publication.
Corporations are now audited at roughly half the rate as low-income EITC recipients.
All in all, “the fundamentals for gold have never been better — record debt and deficit levels, financial markets that are priced for perfection and the emergence of inflation in response,” said Grosskopf. “Gold should now move strongly higher.”
Much is riding on whether the president decides in coming months to reappoint or replace Jerome Powell, whose four-year term expires in February.
After more than a year of slumber, investors are preparing for currency volatility to come roaring back to life. From Nomura International Plc to Rabobank, banks are recommending cheap protection against foreign-exchange price swings, which have been muffled so far by a barrage of liquidity and record-low interest rates....
May 26, 2021 - 07:55:06 PDT
Given the recent price volatility, the ban on new sales has been widened to a full sector clean-up, covering products linked to commodities not specifically targeted before, such as gold, silver, platinum, palladium, natural gas and soy beans, the three sources said.
The U.S. Dollar Has Fallen to the Weakest Versus China’s Yuan in Three YearsMay 26, 2021 - 07:47:57 PDT
China’s yuan advanced to a three-year high in onshore markets as the central bank signaled that it’s comfortable with a recent rally by setting a strong daily reference rate.
The dangers of losing the market’s confidence on inflation are worse than those from cutting back the flow of quantitative easing.
The CEOs of the nation's biggest banks kick off two days of congressional testimony on Wednesday before the Senate Banking Committee.
Central bankers around the world are mulling the future of their massive bond-buying programs in a post-pandemic world, knowing that with big balance sheets come big expectations. The Group of Seven developed economies piled on about $7 trillion in debt last year as they spent heavily to fight the pandemic and prop up their economies.
The US government continues to run massive budget deficits. That means it has to sell bonds to finance the debt. So, who's buying all these Treasuries?The Federal Reserve is buying a lot of them as it continues to monetize the ever-growing federal debt. Between March 2020 and March 2021, the central bank monetized more than half of the massive pandemic debt.
Gold pushed above $1,900 an ounce near the end of the trading day Tuesday (May 25) and closed just below that level. Silver also had a strong day, up about 22 cents, closing just below $28 an ounce. Meanwhile, the dollar index headed in the opposite direction, closing an 89.66. That's the lowest level for the dollar index since early January. Peter Schiff talked about the rally in gold and how the inflation tax is destroying American's purchasing power on a recent podcast.
Gold notched a fresh four-month high as another Federal Reserve official talked down the prospects for inflation, piling pressure on Treasury yields. Signs of inflation would “prove to be largely transitory,” Fed Vice Chair Richard Clarida said in a Yahoo! Finance interview. That echoed a number of recent dovish comments from the U.S. central bank, and sent the yield...
May 26, 2021 - 05:53:27 PDT
Two men have been arrested for allegedly stealing gold bars while working as cargo handlers at Los Angeles International Airport, federal prosecutors said. Marlon Moody, 38, and Brian Benson, 35, both of Los Angeles, were taken into custody without incident on Tuesday morning by agents with the FBI. Both men were charged with conspiracy as well as theft...
The agency’s Digital Forensics Unit wants to “tame the cybersecurity research into measured, repeatable, consistent digital forensics processes.”
The price of bitcoin is hovering around $40,000, a week after its price tumbled 30% to around $30,000.