Precious metals news

Americans’ cash cushions have been declining for months, most acutely among low-income households, underscoring the already-precarious financial situation of the millions of people who may soon lose their jobless benefits.

State senators are pushing to make higher rates retroactive to an earlier point in 2020, raising revenue to avoid up to $8 billion in cuts to education and social-service funding.

China cut its US government debt holdings in October, continuing a downward trend over five consecutive months amid deteriorating relations between the world's top two economies.

The United States hasn't seen significant inflation in almost 40 years. That may change soon, thanks to a massive federal deficit, pent-up demand when quarantine restrictions are released and a shift...

Data on federal tax receipts paints a grim picture of the state of the US economy. Weak tax receipts are sending a signal of economic distress. Congress needs to act with urgency and pass federal support legislation to help broad parts of the economy.

As if the Fed didn't have far bigger problems on its plate - like, for example, what it will do when the inflation it has been doing everything in its power to create finally materializes and how it will tighten financial conditions without sparking the biggest tantrum in history and sending risk assets plummeting, on Tuesday morning the following bizarre headline hit terminals around the world:

The government will shut down on Saturday and 12 million people will lose unemployment benefits the day after Christmas if Congress fails to act.

Three bills prefiled in the South Carolina House would cut taxes on precious metals and take important steps toward treating gold and silver as money instead of as commodities. Passage of these bills would also set the stage to undermine the Federal Reserve’s monopoly on money.
South Carolina is the first state to propose this kind of legislation for the 2021 session, but more states will likely follow suit. This is part of a broader movement at the state level to support sound money.

Spot gold was up 0.2% at $1,857.74 an ounce after touching its highest since Dec. 9 at $1,865.14. U.S. gold futures rose 0.4% to $1,861.40.

With 2020 nearly behind us, many are eagerly looking ahead to what 2021 will bring. COVID-19 vaccinations have begun, and hope is on the horizon for a stronger economy going forward. Link to original: https://www.visualcapitalist.com/global-recession-2020-recovery/

On a year-over-year basis, retail sales remain higher but are rolling over fast...

Bank of England officials hold their final scheduled policy decision of a tumultuous year still unsure whether the U.K. will get a Brexit trade deal, and knowing there’s little they can do to soothe the economic pain if it doesn’t.

Monetary policy in Europe has gone from being a tool to help states make structural reforms to become an excuse not to carry them out.

The Bank of Japan will tap $6 billion in cash from a government account in a rare arrangement to ensure it has enough ammunition to combat any market disruptions caused by a recent resurgence in coronavirus infections.

Coronavirus vaccines began rolling out this week, boosting optimism that the economy will soon rebound. But as Peter Schiff said in a podcast last month, there is no vaccine for what ails the economy. Even if the vaccine proves effective and governments ease off the draconian policies they have implemented in response to the pandemic, governments and central banks will have to continue stimulus programs and loose monetary policies. That's good for gold.
Commerzbank sees things the same way, projecting gold's bull run will continue through 2021 with the yellow metal rising to $2,300 by Q4.

Bond investors are prepared for the risk that 2021 heralds the return of a long-dormant enemy: inflation.

Mortgage demand was flat last week, despite record low rates, but demand is substantially higher than it was last year.

World stocks rose to record highs on Wednesday while the safe-haven dollar reached its lowest in more than two and a half years on the prospect of effective coronavirus vaccines and more U.S. fiscal stimulus.

The Fed could disappoint at least some market pros who are expecting immediate changes in its bond buying program.

Censorship is now out of control. And there's a War on Truth underway that is following the same sort of playbook as the intentional muddying of the science behind smoking, or how the sugar industry waged a very successful campaign to sell their products while making millions of people sick.