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 the U.S. Nickel 5-cent piece. (See the Precious and Base Metals section.)
Precious and Base Metals:
RBI moves 1 lakh kg of gold from UK back to India, the first such move of this quantum since 1991. JWR’s Comments: That is 100 tons of gold! Perhaps this is more evidence that the BRICS nations are getting ready to introduce a gold-backed currency.
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A bit of chartistry, from friend-of-the-blog Hub Moolman in South Africa: The US Dollar or Silver: Make Your Choice.
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Over at The Burning Platform: South Korea Has Gold Bar Vending Machines…And They’re Selling Out.
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Reader Daniel K. wrote to mention that it now costs the U.S. Mint 10.4 cents to produce each “Nickel” 5-cent coin. I still recommend stockpiliing them. JWR’s Comments: The humble Nickel is composed of 75% copper and 25% nickel. Just keep in mind that they are four times as heavy as junk silver coins, per dollar of face value. (A $1,000 face-value bag of silver dimes, quarters, or half-dollars weighs about 55 pounds. But just $250 face-value in nickels weighs about the same — just over 55 pounds.) By the way, I should mention: Boxes of nickels make great “ballast” for the bottom of a large gun vault. Adding $2,000 in nickels — a whopping 440 pounds — is a great way to help keep burglars from hauling away your entire vault.
Economy & Finance:
H.L. sent this news: CBO: National Debt Will Pass $50 Trillion in 10 Years.
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From Peat Marwick: Election year dissonance: Midyear economic outlook.
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Stephanie C. sent this item: “It’s Just Not Right”: Major Venues Now Punishing People For Using Cash Vs. Plastic.
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After A Year In “Recovery”, The Economy Is Once Again Contracting.
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At Zero Hedge: Shock Decline In Credit Card Debt Is First Since Covid Crash, As Card APRs Hit New All Time High.
Commodities:
Saudi Arabia’s Petro-Dollar Exit: A Global Finance Paradigm Shift.
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Reader C.B. suggested this news item: Serbia could mine lithium as early as 2028: FT.
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AI Gold Rush: Nvidia Surpasses Microsoft as World’s Most Valuable Public Company.
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U.S. Halts Avocado Imports After Abduction of USDA Inspectors in Mexico.
Inflation/Deflation Watch:
The Deeper Dive: Why the Fed’s Inflation Fight is Far from Over.
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Bidenomics: More companies announce bankruptcies, shutter operations, citing inflation. (A hat tip to H.L. for the link.)
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Editorial: When it comes to taming inflation, consumer — not Biden — is king.
Forex & Cryptos:
Gary D. Barnett: The Downfall of the Dollar and the Global Monetary Transition.
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At Currency Thoughts: A Second Interest Rate Cut in Switzerland.
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DOLLAR TO CANADIAN DOLLAR FORECAST 2024, 2025, 2026 – 2028.
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BlackRock’s bitcoin ETF attracts a staggering $662 million in daily trades.
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Crypto scams evolve with AI, posing new threats to investors.
Tangibles Investing:
I may be biased, but I believe that anyone who is considering investing in a rural retreat property should take this online course taught by my son Jonathan Rawles: The Prepared Property Buyer.
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This was published by USN&WR, back in January: 2024-2028 Housing Market Predictions: A Gradual Thaw With Added Challenges.
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!