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 how second-hand car prices are soaring. (See the Tangibles Investing section.)
Precious Metals:
U.S. Congressman Seeks Full Audit Of America’s Gold Reserves.
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Some interesting history, from Vince Lanci: Gold is Money. Silver is More.
Economy & Finance:
Here’s what’s in Republicans’ new $928 billion infrastructure counterproposal. JWR’s Comment: How did congress devolve into a debating society that argues about creating trillions of dollars of new national debt?
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At Zero Hedge: “Eerily Analogous To 2008” – Carl Icahn’s “Big Short 2.0” Trade Starts Paying Off As Mall Loan Fails.
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H.L. suggested this interview: Inflation & Implosion – Hyperinflation in 2022 – John Williams
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At Wolf Street: “Just Shut Up and Buy”: But Hype-Stocks & Cryptos Crashed
Commodities:
Iron ore prices hit record high as demand surges
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Reuters reports: Exclusive: Biden looks abroad for electric vehicle metals, in blow to U.S. miners.
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Hawaii Is Replacing Its Last Coal Plant With a ‘Giant Battery’—Powered by Oil
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Reader Sean B. sent this: Ag’s latest headache: a shortage of pallets for shipping produce.
Derivatives:
FMDQ Exchange To Begin Derivatives Trading Soon
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This piece posted last month deserves attention: Collapse Of Deutsche Bank Would Be Catastrophic For Global Financial System – Here’s Why
Forex & Cryptos:
USDCHF returns down to retest the 200 hour MA.
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Markets Looking for Clues to How Central Banks React to Spike in Inflation.
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˜CNBC: Bitcoin traders using up to 100-to-1 leverage are driving the wild swings in cryptocurrencies
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Wash Sales: Bitcoin crash opens door to a tax loophole for investors.
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IRS Wants Tools for Cracking Crypto Wallets.
Tangibles Investing:
I’ve put Elk Creek Company on hiatus while I travel during the month of June. My plan is to re-open on July 1st, with pricing denominated in pre-1965 U.S. silver coinage, with a multiplier for payments in Federal Reserve Notes (FRNs) — by check or postal money orders. Thanks for your patience.
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A report from the UK, highlighting the effect of the chip shortage: Second-Hand Car Prices Are Soaring.
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Ford to halt production of F-150, Bronco Sport and other vehicles due to chip shortage.
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!