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 the rising price of now import-banned Russian AK ammunition. (See the Tangibles Investing section.)
Precious Metals:
COMEX Silver Bought Back By Refiners For First Time In History.
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The War on Cash Is Here, Gold Will Be the Only Road to Freedom Says Renowned Columnist.
Economy & Finance:
Biden’s nearly $5 trillion spending plans win key House vote.
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At Zero Hedge: Vessel Congestion At LA Ports Soars As More Ships Join Queue.
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Peter sent us this, from The WSJ: Social Security Costs Expected to Exceed Total Income in 2021 as Covid-19 Takes Financial Toll. The subhead Trustees say hit from pandemic was less than feared; trust fund is now expected to be depleted in 2034 unless Congress shores up program.
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Views From the Floor – Is Quantitative Tightening on the Cards?
Commodities:
Jaime sent us this: Copper price down as China factory activity slows.
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OilPrice News reports: Alaska’s Oil Industry May Be On Its Last Legs.
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Commodities: Tricky September Looms For Energy, Metals And Crops.
Inflation Watch:
At The Hill: New home sales tick higher as prices hit record highs.
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An interview with John Williams: Hyperinflation Worst in 40 Years & About to Get a Lot Worse.
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Q2 GDP Revised To 6.6%, Missing Expectations; Core Inflation Hits Highest Since 1983.
Forex & Cryptos:
Reuters: Dollar weakens after ADP miss, euro hits fresh one-month high.
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Iceland’s Second Central Bank Rate Hike of 2021.
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Crypto regulation in America and Europe.
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Slovenia Changes Proposed Cryptocurrency Tax – 10% Tax on Amount Sold, of 25% of Profit.
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Biden’s infrastructure tax would hogtie miners and developers, industry warns.
Tangibles Investing:
Amid a Historic Shortage, Joe Biden Hypocritically Blocks the Importation of All Russian Ammunition.
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Russian Guns and Ammo Imports Halted as of September 7, 2021.
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When I last checked the prevailing price for steel-cased non-reloadable Russian 7.62x39mm ammo had jumped to 50 cents per round, and up. I hope that my readers stacked it deep, back when it was inexpensive and plentiful.
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!