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. Most of these items are from the “tangibles heavy” contrarian perspective of SurvivalBlog’s Founder and Senior Editor, JWR. Today, we look at prospects for the Swiss Franc. (See the Cryptos and Forex section.)
Precious Metals:
First up, for today: Gold surges to 4.5-month high on safe-haven demand.
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John Rubino: Charts For A Crazy World: Inflation And Other Screw-ups
Economy & Finance:
Charles Hugh Smith: Inflation or Deflation?
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At Zero Hedge: This Is Not The Inflation You Are Looking For, Move Along
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Credit Card Debt Keeps Falling. Banks are on Edge.
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Greyhound Canada to cut all routes, end operations.
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Gun Maker Leaving Massachusetts For Pro-Gun Tennessee
Commodities:
It is noteworthy that the recent jump in copper to an all-time high has given the humble U.S. Nickel (5 cent piece) 6 cents worth of melt value. Hang on to your nickels!
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Bob. D. sent us this: Record metals boom may threaten transition to green energy.
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OilPrice News reports: Inflation Fears Send Oil Plunging
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“You Can’t Do That To People”: Virginia Gas Station Charges Almost $7 Per Gallon
Derivatives:
In The New York Times: Investment Firm’s Collapse Put Unseen Risks on Full Display.
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SEC implements key step for derivatives oversight 11 years after Dodd-Frank.
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US put off derivatives rules for a decade before Archegos blew up.
Forex & Cryptos:
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GBP/USD breaks out above its May high to expose the 2021 high at 1.4237 – Credit Suisse
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Washington is rushing to regulate crypto. It’s a mess. JWR’s Comments: This is happening just as I warned you… There will be lots of new regulation and taxation of private cryptos, as national governments roll out their sovereign cryptos. Just like the Mafia, governments hate competition. The next step may be seizure of some crypto accounts at exchanges, and perhaps even entire exchanges. So my advice is to move any coins and tokens in exchanges to air-gapped hardware wallets, muy pronto. Trezor makes very secure wallets with recovery passphrases.
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The Wall Street Journal reports: The IRS Is Coming for Crypto Investors Who Haven’t Paid Their Taxes.
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Wednesday’s headline: Bitcoin plunges 30% to $30,000 at one point in wild session, recovers somewhat to $38,000.
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Bitcoin Disaster, Equities Fall Again, and Mixed Inflation News
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Wells Fargo Plans To Add Actively-Managed Crypto Product
Tangibles Investing:
People are panic buying homes as prices skyrocket around the world.
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Home Prices Soar Most On Record As Fed Continues Bubble Blowing Policies
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Want to invest in some pre-1899 guns? The Jeff Cooper’s Birthday Sale at Elk Creek Company ends at 1800, Eastern Time, tonight!
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. And it need not be only about commodities and precious metals. Thanks!