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 look at the recent drop in the price of silver. (See the Precious Metals section.)
Precious Metals:
You may have read that spot gold and silver both dropped on Friday. The silver price suffered much more than that of gold. Silver was down 3.6%, to just $19.98 per Troy ounce. Yikes. This brought the silver-to-gold price ratio back up to 90.5-to-1. Considering that the long-term trend based on industrial use and scrap silver and gold recovery rates, it would more properly be pushing the ratio below 50-to-1, this is truly “out of whack.” Thus, the present juncture is a good time to either buy some silver or to ratio trade out of gold and into silver. If you’ve been hesitating to increase your silver stack, then this is your chance to buy the white metal at a reasonable price. We might not ever again see silver below $20 per ounce, in our lifetimes. I consider it a bargain, anywhere below $23 an ounce. Might I suggest that you buy some now, before inflation kicks in, and propels the precious metals prices upward?
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Ron Paul: Forget About The Gold Standard, Let’s Talk About The Copper Standard [2].
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Greyerz – STOP PRESSES: G7 BANS RUSSIAN GOLD [3].
Economy & Finance:
How the Biden economy compares with Jimmy Carter’s [4]. (Note the pro-Biden bias of this article, published by Yahoo — a leftist-propagandist news outlet.)
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At Zero Hedge: Michael Burry Agrees: “Bullwhip Effect” Will Force Powell To Pivot On Rate Hikes And QT [5].
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Reader H.L. sent us this: Tax refunds may be delayed by 6 months or more for some paper filers: Here’s why [6].
Commodities:
Over at The New American: Biden: Americans Will Pay High Gasoline Prices for “as Long as It Takes” [7].
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Reader C.B. spotted this: Biden administration unveils oil and gas drilling plans, gutting Trump-era framework [8].
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White House Is Quietly Modeling For $200 Oil “Shock” [9].
Inflation Watch:
Economist: America About to Enter Next Stage of Inflation, Which Will Be so Much Worse [10].
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Medical inflation is outpacing other U.S. goods and services [11].
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What is the source of inflation of the U.S Dollar? The M3 Money Supply chart [13] says it all.
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Forex & Cryptos:
Thales Group (in England) posted this: The EU Digital ID wallet is coming. Here’s what it means for you [16]. JWR’s Comment: Look for similar incremental steps in the U.S. and Canada. The Fed and Treasury will probably need this to implement a Digital Dollar.
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Norway Is Tracking What Everyone Buys, And Biden Wants To Follow Suit In The United States [17].
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Andy Schectman warns of imminent, instant collapse of the dollar’s global reserve status [18].
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Published on June 27th: Goldman downgrades Coinbase, upgrades Robinhood amid crypto volatility [19].
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$670 Million Crypto Default! Voyager/Three Arrows Capital Digital Provides Market Update [20].
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Tangibles Investing:
Here it comes, just as I warned you: Home Listings Surge in Turnabout for Supply-Starved US Market [22].
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Palmetto State Armory [23] (one of our affiliate advertisers)
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Another place to “improve a collection”: Private Purchasers Clean Up at Fort Worth Gun Buyback [24].
Provisos:
SurvivalBlog and its Editors are not paid investment counselors or advisers. Please see our Provisos [25] 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 [26].) 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!