Precious metals are apparently waking up. And here is where you can find the best deals.
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Biden and Yellen to Meet with CEOs of JPMorgan, Walmart, Gap to Talk StimulusFeb 9, 2021 - 07:12:44 PST
Among those expected to meet with Biden and Treasury Secretary Yellen are JPMorgan's Jamie Dimon and Walmart's Doug McMillon.
Billions of dollars have been lost to unemployment fraud during the Covid pandemic. Victims of identity theft will have an unwelcome surprise this tax season.
Sam Zell Calls SPAC Craze Largely ‘Rampant Speculation’ Reminiscent of 1990s Dot-Com BubbleFeb 9, 2021 - 06:54:23 PST
Investor enthusiasm for highly speculative internet stocks helped push the tech-heavy Nasdaq up more than 500% from 1995 until the bubble burst in March 2000.
In a podcast, Peter Schiff said it smells like stagflation is on the horizon. Inflationary pressures are becoming more and more apparent. Labor costs, commodity prices and bond yields are all pushing upward - clear signs of inflationary pressure. And of course, defined correctly - as an increase in the money supply - there is no denying inflation is rampant. We saw a record increase in the money supply last year. The only time that even comes close was the stagflationary period of the 1970s.But what does this really mean for you and me?
Gold climbed for a third day as the dollar and real Treasury yields declined, with traders weighing prospects for a fast-tracked stimulus package in the U.S.The precious metal headed for the longest run of gains since Jan. 5 after Democrats released the first draft of key legislation that will comprise President Joe Biden’s Covid-19 relief bill.
The federal budget deficit was $348 billion in the same period last year, the Congressional Budget Office estimated.
Japan Finance Minister: G7 Focus on Emerging Market Debt, Digital Taxation and Digital CurrencyFeb 9, 2021 - 05:40:00 PST
The Group of Seven (G7) financial leaders would kick off debate on Friday on emerging market debt problems, implementation of digital taxation and central bank digital currency, Japanese Finance Minister Taro Aso said on Tuesday.
A senior Federal Reserve official has shrugged off concerns that further fiscal stimulus might generate an unhealthy jump in inflation this year, saying the US economic recovery still needs support.
So basically, radical parties in Europe demand that the ECB forgives their debt and prints more while keeping the option of leaving the euro. Call that baking the cake and eating it.
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Between global central bank money-printing, government fiscal support out the wazoo, and hopes for vaccine-related developments, the world and his pet rabbit is betting on inflation (and just as confidently, central planners are sure they can tame the beast should it ever get out of hand).
“Taking money away from people after you’ve promised it to them is not the way to start,” says Marie, referring to the fact that Democrats now control the White House, House of Representatives and Senate. “I think this is a horrible plan that threatens security to many people.”
House Democrats Call for Faster Phase Out in Next Round of Stimulus ChecksFeb 9, 2021 - 05:15:15 PST
Democrats proposed full $1,400 direct payments for individuals who make up to $75,000 and couples who earn up to $150,000.
Democrats Press Ahead on $15 an Hour Minimum Wage Despite Deficit WorriesFeb 9, 2021 - 05:07:23 PST
Raising the minimum wage to $15 an hour would increase the budget deficit, the CBO says. How that could actually help Democrats pass the pay hike.
The U.S. is recording at least 117,000 new Covid-19 cases and at least 3,100 virus-related deaths each day, based on a seven-day average using JHU data.
We ended last week with some weaker than expected economic data - particularly the jobs numbers, but the stock market continues to go up. These days, the mainstream reacts to everything as good news. No matter what the data suggests, everybody seems to think things will come up smelling roses because of stimulus. But in a recent podcast, Peter said all of this smells more like stagflation.
Two powerful forces are now setting up for a collision in the silver market. However, this wasn't always the case. In the past, industrial silver demand was the largest component of the silver market. That's all changed now as investment demand became the biggest factor last year, and will likely be the same in 2021...
Silver markets rallied slightly during the trading session on Monday to continue the overall bullish attitude.
So how did so much silver get purchased in such a short period of time without exploding in price by $10 or $20? It had nothing to do with the buyers and everything to do with the sellers (probably the same big 4) who are short on the COMEX. It was the sellers that sold enough to prevent silver prices from soaring.
Archaeologists working a burial site in Alexandria, Egypt, have unearthed ancient mummies with golden tongues.
Several states will consider measures to remove sales or general excise taxes from the purchases of gold, silver, and other precious metals. Many other states will weigh bills to eliminate income taxes on gold and silver.