Precious metals news

President Joe Biden isn't backing down from sending $1,400 checks to Americans. But he says those payments could be targeted at people who need them most.

They’re among thousands of older Americans pushed out of work since the spring. The Covid recession has sidelined many of them for long stretches — making it harder to get another job at an age that makes employers already be less inclined to hire them.

Sen. Bernie Sanders opposes lowering the income cap for receiving a full $1,400 stimulus check in the $1.9 trillion coronavirus relief bill.

The U.S. could return to full employment in 2022 if President Biden's Covid stimulus package is passed, Treasury Secretary Janet Yellen said Sunday.

After two consecutive months of outflows, gold-backed ETFs became net buyers of gold again last month. Gold-backed funds added 13.8 tons of gold to their holdings globally, driven by inflows in Europe-based funds, according to the latest data from the World Gold Council.

On January 29, Tony Pasquariello, global head of Goldman Hedge Fund Coverage (whose observations we have frequently profiled on these pages) spoke to investing legend Stanley Druckenmiller, head of the Duquesne Family Office, about his current outlook on the market, his approach to risk management throughout his career, and his perspective on the conversation surrounding the role of capitalism in American society.

The company said it bought the bitcoin for “more flexibility to further diversify and maximize returns on our cash,” according to the filing. In addition to the purchase, Tesla said it would start accepting payments in bitcoin in exchange for its products as well. That would make Tesla the first major automaker to accept bitcoin as payment.

The U.S. is recording at least 130,400 new Covid-19 cases and at least 3,200 virus-related deaths each day, based on a seven-day average using JHU data.

The tale of GameStop has much more to say about the current state of investing."
The central idea in the classic Mel Brooks comedy “The Producers” is that unscrupulous Broadway impresarios could succeed fabulously by creating a play so uniquely awful that it would close on its first day.  Their idea was to oversubscribe shares to investors, to the point where hundreds of percentages of ownership could be claimed. But if the show failed spectacularly, there would be no proceeds to fight over, all the investors would accept that their shares were worthless, and no one would know that they had been conned. The producers could pocket the excess money. The only way they could fail would be by producing a hit.

One of the most often repeated claims in the crypto community is that cryptos must keep rising in value because they are in limited supply and they are purchased with cash. In other words, the claim is that there is virtually no leverage in the crypto market. In today's installment of The Ultimate Crypto Report we take a look at what we call the crypto ideology.

The West Texas Intermediate Crude (WTIC) oil price is now at a long-term critical trend line.  Every time the oil price reached this trendline over the past ten years, it bounced off and moved lower.  Will it be the same this time??  Well, it depends on the continued Fed and central bank monetary stimulus...

There's been some disturbing news and data coming out about the U.S. Shale Industry.  However, most investors still have no clue how bad the situation is becoming for an industry that really hasn't been profitable for more than a decade.  Unfortunately, there seem to be some nasty skeletons in the...

Gold and silver futures finished with gains on Friday, but gold fell for the week. Prices for the precious metals got a boost from a smaller-than-expected monthly rise in U.S. nonfarm payrolls as well as news that the U.S. Senate approved a budget resolution in a move that fast tracks the $1.9 trillion coronavirus relief plan proposed by the Biden administration.

Inflation may be stubbornly low for now, but a big enough blast of demand could push it higher, leading the Fed to raise rates somewhat sooner than it currently plans. The ripple effects of such a move on asset markets would separate the strong from the weak, and hit emerging markets particularly hard.

2Q GDP plunged by a record-shattering 33.4% (annual rate) following the 1Q slide of 5% in the first three months of the year. For all of 2020 the economy shrank by 3.5%, the worst annual decline in 74 years (WWII).

There are an estimated 9 million U.S. Americans living overseas. Every three months the U.S. Government publishes the names of all Americans under the IRS rules (section 6039g), who give up their citizenship. 2020 saw 6,705 Americans renounce their citizenship, 260% more than 2019 when 2,577 Americans renounced.

The $28 trillion national debt burden Biden inherited on Jan. 20, meantime, will soon swell further as additional fiscal stimulus packages are deployed to support growth.

Humanity Is Being Given a Choice, to Either Stand Up and Affirm Its Most Fundamental Rights, Where Individuals Take Charge of Their Money, Property and Destiny, or Willingly Surrender Their Belongings, Their Free Will, and Their Fate to the Banks’ An

And while impressive, the most remarkable flows were the record $2.8BN inflow into silver, as well as the record $4.2BN into tech stocks "with big clients buying FAANMG underperformance"; EM debt also got some love with $3.7BN in inflows - the 4th largest ever.

The head of the International Monetary Fund on Friday warned that the United States faced a possible "dangerous wave" of bankruptcies and unemployment if it did not maintain fiscal support until the coronavirus heath crisis ended.