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 [1]. Today, we again look at Swiss watches. (See the Tangibles Investing section.)
Precious Metals:
Manly: Gold Price Smash in Paper – But Physical Demand on Fire. [2]
o o o
Barrick CEO: Gold’s real rally hasn’t even come yet; Mark Bristow on Q2 results, forward guidance [3].
Economy & Finance:
At Zero Hedge: Yields Plunge After Strongest 10Y Auction On Record [4].
o o o
Social Security’s Insolvency Is Bigger Than Climate Change And COVID-19 Combined [5].
o o o
$1.1 Trillion Flood of Liquidity from Drawdown of Treasury General Account Peters Out [6].
o o o
US trade deficit hits record $75.7 billion in June [7].
Commodities:
Gas prices on the rise after brief dip [8].
o o o
Lithium’s market value will triple if U.S. hits 50% EV goal by 2030 – Bank of America [9]
o o o
Exxon Accelerates Deleveraging, Targets Sale Of Shale Gas Properties By End Of 2021 [10]
o o o
Colombia’s Oil Industry Tumbles Amid Violent Protests [11].
o o o
Biden to set target of half of US car sales to be zero-emission by 2030 [12]. (Thanks to C.B. for the link.)
o o o
Tenn. Nissan plant to close for two weeks due to chip shortage [13].
Inflation Watch:
“The Pandemic Recovery Continues To Throw Inflation Models Out The Window” [14].
o o o
July CPI release points to hyperinflation, not peak inflation at 5.4% – Todd Horwitz [15].
o o o
At Wolf Street: Dollar’s Purchasing Power Plunged at Constant Speed [16].
Forex & Cryptos:
Farewell to Yet Another Failed Monetary System [17].
o o o
Over at Currency Thoughts: Several Equity Markets in Unchartered Waters; Today’s Data Front Features CPI and Retail Sales [18].
o o o
Reader H.L. sent us this: The IRS has seized $1.2 billion worth of cryptocurrency this fiscal year – here’s what happens to it [19].
o o o
Coinbase removes ‘backed by US dollars’ claim for USDC stablecoin [20].
Tangibles Investing:
o o o
45 Best Swiss Watch Brands – A Complete Guide 2021 [22]. This article begins:
“If you were to ask the average person on the street in many parts of the world, they’d likely tell you Switzerland is the home of luxury watches. While the realities of the international watch industry are more complex, and many other nations such as Japan and Germany are also prominent makers of excellent luxury watches, Switzerland for many will always be the home of fine watchmaking. Part of the reputation for watch excellence from Switzerland lies in the sheer number of industry giants calling Switzerland home. Household names like Rolex, Omega, Blancpain, and Patek Philippe are Swiss, as are literally hundreds of other brands. Swiss watchmaking also has a reputation for being expensive, in no small part because of the aforementioned brands. However, the Swiss watch industry is as vast as it is complex, with different brands with varying specialities producing watches of every category and price point for export around the globe”
Provisos:
SurvivalBlog and its Editors are not paid investment counselors or advisers. Please see our Provisos [23] page for our detailed disclaimers.
News Tips:
Please send your economics and investing news tips to JWR [1]. (Either via e-mail or via our Contact form [24].) 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!