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 continuing inflation. (See the Inflation Watch section.)
Precious Metals:
Forecast: What’s Next For Gold Is Always About The US Dollar.
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Sharp declines in treasury yields equal higher gold pricing.
Economy & Finance:
Forbes reports: Senate Democrats Unveil $3.5 Trillion Spending Deal. JWR’s Comment: If they ramrod this through, then there is little hope of saving the U.S. Dollar from destruction. My advice: Diversify into land and practical, barterable tangibles, in anticipation of higher inflation.
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WND: Fed report confirms: People aren’t working because of government handouts.
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Supreme Court Grants Rare Win For Economic Freedom.
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At Zero Hedge: Wells Fargo Unexpectedly Shuts All Existing Personal Lines Of Credit, Hinting US Economy On The Edge.
Commodities:
Ted sent us this, from The WSJ: Coffee Prices Soar After Bad Harvests and Insatiable Demand.
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Lumber Wipes Out 2021 Gain With Demand Ebbing After Record Boom.
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Oil Falls As Saudi Arabia And UAE Compromise On Deal.
Inflation Watch:
Video: Inflation here to stay due to Fed ‘printing too much,’ Steve Forbes says.
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“The report noted that inflation measures had jumped to their highest levels since the early 1990s and that the Biden administration may not raise rates until after the midterms to avoid more fallout at the polls from the administration’s policies.”
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G.G. flagged this: Inflation surges at fastest rate in 13 years hitting 5.4% in June with cost of gas rocketing 45% and everyday items like bacon, milk and oranges up 8% compared to last year.
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Reader C.B. sent this: Governments World-Wide Gorge on Record Debt, Testing New Limits. here is a quote:
“New economic thinking has encouraged politicians to borrow big by emphasizing how borrowing conditions have evolved since fiscal caution was the orthodoxy in the 1980s and 1990s. Globalization, aging populations and conditions in China have combined to create a world awash in savings available to invest.”
Forex & Cryptos:
Sterling gains after UK inflation stokes talk of stimulus reduction.
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Bank of International Settlements Chief Talks “Absolute Control”.
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More sovereign crypto talk: The Banks Are in Bed With the Fed; the U.S. Bank Stress Test Cover-Up. It is noteworthy that Nomi Prins is a strident left-winger.
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Christine Lagarde describes some handwriting on the wall: 80 Central Banks Exploring Cryptocurrencies.
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TA: Ethereum (ETH) Tumbles, Why Key Indicators Suggest More Pain.
Tangibles Investing:
2021 Housing Crash: Americans BOYCOTTING the US Housing Market.
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Rich Dad, Poor Dad, Ammo Dad: You Need an Escape Plan and Untraceable Wealth ASAP Warns Robert Kiyosaki. It is noteworthy that Kiyosaki mentioned that he hedged into pallets of ammunition.
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!