Here are the latest news items and commentary on current economics news, market trends, stocks, investing opportunities, and the precious metals markets. We also cover hedges, derivatives, and obscura. And it bears mention that most of these items are from the “tangibles heavy” contrarian perspective of SurvivalBlog’s Founder and Senior Editor, JWR. Today, we look at how the Swedish government is urging citizens toward hoarding cash. (See the Economy & Finance section.)
We’ll start of today’s E&I column with this from Zero Hedge: More Trouble in Mexico: Second Largest Silver Mine Suspends Operations.
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Economy & Finance:
The Times (of London) reports: Sweden, nation that pioneered living without cash, warns: Hoard your banknotes. Here is an interesting quote:
“Everyone in Sweden has been urged to stockpile coins and banknotes in case the country’s move towards a cashless society leaves them without money in a cyber-crisis. In a move that will sound alarm bells in the UK, Sweden — one of the most advanced nations for digital payments — has warned that its people could be unable to buy anything if its computer networks were put out of action.
The Swedish Civil Contingencies Agency, an arm of the government, has sent guidance to every home telling residents to squirrel away “cash in small denominations” in case of emergencies ranging from power cuts or technology glitches to terrorism, cyber-attacks by a rogue government or war.”
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Federal Reserve Vetoes Cain and Moore. The article begins with words that echo my own assessment of the Federal Reserve banking cartel:
“If you ever had doubts just who is squarely in charge of the finances for the debt created U.S. Dollar currency, the nixing of Herman Cain and Stephen Moore for the Federal Reserve Board confirms that the Banksters are the real power. The Shadow Government is truly the elitists behind monetary hegemony that rules over government and economic policies.”
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Reader D.S. suggested this: Europe Vows To Continue Buying Iranian Oil As US Revokes Export Waivers. Here is a pericope:
“The US turned the screws on Iran last week by cancelling all of the waivers on Iranian crude exports it had issued after reimposing sanctions back in November – effectively leaving $1 billion in Iranian crude stranded outside a Chinese port – while also cancelling two of the seven waivers granted to businesses working with Iran’s civilian nuclear program.
Despite the US’s decision to brand Iran’s revolutionary guard as a “terrorist organization,” the Europeans continued to “encourage all countries” to make their “best efforts” to engage in legitimate trade with Iran.
It’s also possible that the Europeans’ statement was intended to calm global oil markets, as the US’s decision to crack down on remaining Iranian oil exports, combined with the turmoil in Venezuela and Libya, could send oil prices higher (though the Trump administration has sought to offset this by recruiting Iran’s regional rivals to increase their output). The rising tensions between Iran and Saudi Arabia have prompted Iran to warn that the collapse of OPEC could be imminent (should that happen, it’s very likely that a new organization led by Saudi Arabia and Russia could emerge in its place).”
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Astute collectors often search for “low population” examples of everything from rare coins, to guns, to numbered fine art prints, to Swiss watches. If a highly-valued item is no longer produced and was only produced in very small numbers, then it is a good candidate to be tucked away as an investment collectible. Ideally, you’ll want to find truly “minty” condition examples that are still in their original factory packaging. The term “limited edition’ is now a bit over-used in marketing circles, but with some collectible items, it really means something.
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Please send your economics and investing news tips to JWR. (Either via e-mail of via our Contact form.) These are often especially relevant, because they come from folks who particularly watch individual markets. And due to their diligence and focus, we benefit from fresh “on target” investing news. We often get the scoop on economic and investing news that is probably ignored (or reported late) by mainstream American news outlets. Thanks!