Here are the latest news items and commentary on current economics news, market trends, stocks, investing opportunities, and the precious metals markets. In this column, JWR also covers hedges, derivatives, and various obscura. This column emphasizes JWR’s “tangibles heavy” investing strategy and contrarian perspective. Today, we look at the market prospects for gold.
Precious Metals:
The new floor for spot silver seems to be around $30 USD per Troy ounce. Any time it drops lower in Western trading, the Asian traders quickly run it back up, with strong buying.
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Jim Rickards: $27,000 Gold. A quote:
“This analysis begins with a simple question: What’s the implied non-deflationary price of gold under a new gold standard?
No central banker in the world wants a gold standard. Why would they? Right now, they control the machinery of global currencies (also called fiat money).
They have no interest in a form of money they can’t control. It took about 60 years from 1914–1974 to drive gold out of the monetary system. No central banker wants to let it back in.”
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With Momentum In Its Favor, Gold Has Potential To Head Higher.
Economy & Finance:
A video essay from a familiar face with a quite sound Big Picture view of the global monetary milieu, pointing to an upcoming Dollar Collapse: Something Huge Is Unfolding in the Financial World. She summed it up with this: “The day of the Dollar’s reckoning is here.”
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House Releases $1.5 Trillion Farm Bill, Teeing Up Duel With Senate.
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Linked over at the Whatfinger.com news aggregation site:
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Martin W. Armstrong: US Consumer Sentiment Reaches 6-Month Low.
Commodities:
Reader C.B. sent us this: Nolte: Thieves Steal Tesla’s Electric Vehicle Charging Cables for Copper in California.
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Cocoa Market Hit With Second Crash In Weeks As Liquidity Evaporates.
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From OilPrice News:
Inflation/Deflation Watch:
Over at Zero Hedge: US Producer Prices Accelerating At Fastest Rate In 12 Months, Wall Street Reacts…
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Argentina: Inflation Drops to 8.8%, Reaching Single Digits for First Time in 6 Months.
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H.L. suggested this piece at American Thinker: Bidenflation advances: Consumers no longer trying to save for college and homes, now just spending on luxuries.
Forex & Cryptos:
Why The Dollar Will Lose Its Status As Global Reserve Currency.
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At Currency Thoughts: Hawkish Language in the April 30-May 01 FOMC Minutes.
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Down in Oz: Major bank to ditch cash within days.
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After House passes new FIT21 crypto bill, challenges loom at the Senate.
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Ethereum Price Could Surge by 60% after Approval of Spot Ether ETFs in the US: QCP Capital.
Tangibles Investing:
20 Antique Woodworking Tools That Are Worth Big Bucks.
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Price Guide to Antique Tools: What to Know.
Provisos:
SurvivalBlog and its Editors are not paid investment counselors or advisers. Please see our Provisos page for our detailed disclaimers.
News Tips:
Please send your economics and investing news tips to JWR. (Either via e-mail or via our Contact form.) These are often especially relevant because they come from folks who closely watch specific markets. If you spot any news that would be of interest to SurvivalBlog readers, then please send it in. News items from local news outlets that are missed by the news wire services are especially appreciated. Thanks!