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, a historical view of how inflation precipitates societal collapse. (See the Inflation Watch section.)
Precious Metals:
Société Générale sees gold prices falling to $1,550 in 2023 and recovering to $1,900 by 2024 [2].
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The Dollar, Safe Haven or Leaky Lifeboat? [3]
Economy & Finance:
In Fortune: ‘These are very, very serious things’: Jamie Dimon sees a recession coming in 9 months or less [4].
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At Zero Hedge: Fed Rate-Hikes Approaching The “Breaking Point” [5].
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Video from gloom and doom stock picker Neil McCoy-Ward, who asks: Is This Why PayPal Are FREEZING Accounts?! (Including Mine) [6]
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Bloomberg: El-Erian Blames Fed for ‘Very High’ Risk of a Damaging Recession [7].
Commodities:
Commodity prices drop despite OPEC intervention [8].
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White House Signals ‘Significant’ Drawdowns From Strategic Reserve Beyond 180 Million Oil Barrels [9]. JWR’s Comments: It is despicable, to see the Democrats using our strategic reserve this way. That reserve was intended to help protect the United States from a cut-off of foreign oil, in the event of a major war. It was not intended to be used as a tool to buy votes in a mid-term election!
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OilPrice News reports: Why The U.S.’ Largest Shale Gas Basin Misses Out On The LNG Boom [10].
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Inflation Watch:
A great video primer on inflation: How Inflation Precipitates Societal Collapse [12]. After watching this, anyone can see why I set the prices for merchandise at Elk Creek Company two different ways: in Pre-1965 silver coinage, and in the currently debased FRN “dollars.”
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At Wolf Street: Tesla Shares Get Halved [13].
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Over at America’s short-attention-span journal, USA Today: Inflation eased to 8.2% but remained high in September, CPI report shows [14].
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Likely gas price hikes could hurt voters – and Democrats’ chances in November [15].
Forex & Cryptos:
‘Bad situation’: Soaring US dollar spreads pain worldwide [16].
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The annual inflation rate in Turkey rose for the 16th consecutive month to 83.5 percent in September [17].
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256% percent! Zimbabwe Will Keep World’s Highest Interest Rates Into 2023 [18].
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U.S. Treasury encourages new laws to address crypto regulation gaps [19]. JWR’s Comment: With the release of CBDCs just around the corner, it is inevitable that sovereign nations will want to eliminate any private competition.
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European Council Approves Crypto Regulation Bill [20].
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Ethereum Sheds A Quarter Of Its Price As Whales Dump $4 Billion In ETH [21].
Tangibles Investing:
This prescient article ran 12 years ago, when inflation was much lower: To hedge against inflation, wealthy stock up on hard assets [22].
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Palmetto State Armory [23] (one of our affiliate advertisers) is running a special on 840-round ammo cans of PMC .223 Ammo 55 Grain FMJ with stripper clips and bandoleers for $399. At PSA’s website, search on: “223AMB-840”
Provisos:
SurvivalBlog and its Editors are not paid investing counselors or advisers. Please see our Provisos [24] 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 [25].) 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!