Here are the latest news items and commentary on current economics news, market trends, stocks, investing opportunities, and the precious metals markets. In this column, JWR also covers hedges, derivatives, and various obscura. This column emphasizes JWR’s “tangibles heavy” investing strategy and contrarian perspective. Today, another look at pennies and nickels. (See the Base Metals section ad the Commoditoes section.)
Precious Metals:
When I last checked (Mid-day on Thursday, September 6th):
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$2,519.20 (Up $9.90)
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$29.10 (Up $0.65)
It seems that the short sellers are losing this fight. The Asian long traders are dominating the global markets. The shorts should hang up their boxing gloves. If they persist, then they will get caught in an ugly short squeeze. – JWR
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That enterprising Gridlessness prepper family in Canada, again: We’re Literally Printing our Own Money — Silver for the People!
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Frank Holmes, at Gold-Eagle.com: Gold SWOT: Gold’s Record-Setting Rally Above $2,500 an Ounce Looks to Have Further to Run.
Economy & Finance:
US Manufacturing Activity Contracts for a Fifth Straight Month.
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Over at Zero Hedge: US Manufacturing ISM Signals Accelerating Stagflation As PMI Turns Downright Apocalyptic.
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National Review: The Failure of Bidenomics.
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I found this very telling television interview linked over at the Whatfinger.com site: CNN hosts can’t believe their ears when Mr. Wonderful drops TRUTH BOMBS about the Democrat economic vision.
Commodities:
Fitch Analysts Believe the Price of Nickel Will Rise to $21,500 in 2028.
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Blog reader C.B. sent us this: Cable TV’s collapse deepens: ‘It is becoming increasingly clear that there is no longer any floor’.
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Another from C.B.: Left-Wing UK Government’s State Imposed Rules See Petrol Cars ‘Rationed’.
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From OilPrice News: Oil Prices Plunge on OPEC+ Production Cut Speculation.
Base Metals:
America Must Free Itself from the Tyranny of the Penny.
Here is an excerpt:
“Why, in 2024, does our nation still spew out pennies like a two-liter in eternal agitation, gushing undrinkable fizz? The people I asked (government officials, numismatists, economists, scientists, scrap-metal industrialists, souvenir-elongated-penny machinists, historians, businesspeople, poverty researchers, Canadians) assigned blame widely: to an uninterested Congress; to highly interested lobbyists; to the sentimental; to people bad at math; to a populace willing to provide, in perpetuity, free private storage for pointless copper-plated tokens. (This last group encompasses every person currently possessed of at least one penny.) But the truth about why Americans are doomed to trudge eternally through a blood-scented bog of pennies-as-currency may be simultaneously the most dispiriting and encouraging reason imaginable: We may have forgotten that we don’t have to.”
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A Brookings essay, published 11 years ago: Let’s Drop Pennies, and Nickels Too While We’re At It. JWR’s Comments: The great unspoken in articles like this is the fact that the Nickel and the Pre-1982 Penny are the last circulating coins that have real substantive value. All of the others have become just worthless tokens.
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Most SurvivalBlog readers have already read this, but a few newbies might not have: Mass Inflation Ahead — Save Your Nickels!
Forex & Cryptos:
At Currency Thoughts: Market Activity Muted by U.S. and Canadian Labor Day Holidays, But Manufacturing Purchasing Manager Surveys Reported for Many Other Economies.
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Bitcoin exchange reserves hit lowest level since 2018.
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A Cashless Society Is a Controlled Society.
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Bitcoin prices may drop by up to 20% if Fed cuts interest rates: Bitfinex.
Tangibles Investing:
At the CityQuitters substack: The home as a place of production.
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Palmetto State Armory (one of our affiliate advertisers) has some great specials in their “Daily Deals” this week. For example: PSA 20″ CHF RIFLE LENGTH 5.56 NATO 1:7 PREMIUM RIFLE KIT – 8818, for $699. To find this deal put “8818″ in their search box.
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. Thanks!