Coffee Hits New 34-Year High on Supply Fears. (A hat tip to Flavio for the linkio.) Why It’s Not $100 Oil We Should Be Worried About. (Thanks to Sue C. for the link.) Roubini Predicts Oil Will Hit $150 Per Barrel, Traders Betting On $200
Reader Scott M. sent us this: “No Way Out” of Debt Trap, Gross Says: U.S. Living Standards Doomed to Fall Welfare State: Handouts Make Up One-Third of U.S. Wages. (Thanks to Pierre M. for the link.) Will China’s ‘Have-Nots’ Be Next to Rebel? Items from The Economatrix: US Wants To Take Your Dollars And Replace With Coins Financial Dismantling Of The American Middle Class Physical Silver is Really $50 Per Ounce People Of Earth: Prepare For Economic Disaster Bank Stocks Push Indexes Higher; Oil Prices Dip Beyond Libya, Oil Market Warily Eyes Saudi Arabia
James, You will have soon received a flat rate Priority Mail box containing $150 in nickels (inside a thick cardboard reinforcement liner) that I sent you. I sent you those coins for two reasons: One: I should have been a [voluntary] Ten Cent Challenge subscriber, starting from back when I began reading SurvivalBlog in 2008. The nickels cover not only the past three years, but also pre-pay my subscription for the next year, too. Two: Last week my local bank finally cut me off (and other bank patrons, too), from buying more than one roll [of nickels] at a time. …
Reader L.I.Z. sent this: Using new metals in U.S. coins could impact counterfeiting, public safety and a lot more. Collect you cache of nickels now, before their minting composition is debased. Meanwhile in commodity news: Are High Nickel Prices Here to Stay? KAF forwarded this: U.S. sets $223 Billion Monthly Deficit Record John R. recommended this piece by Bob Chapman: The Fed Distorts The Economy With Inflation Items from The Economatrix: Burst of Hiring Could Mark Turning Point for Jobs Factory Orders Up in January, Helped by Airplanes Food and Fuel Bills to Rocket, Warn Ministers and UN …
Jim, Your readers might be interested to know that banks [where I live in California] have started charging a fee for rolled U.S [five cent piece] nickels. I’ve been going to Wells Fargo Bank ever since you wrote about the subject, several years ago, gradually obtaining nickels at cost. Yesterday, I found that they’ve begun charging 7.5% per $100 box. Another local bank, beginning in March, has started charging 10% per roll of nickels. Word is getting out: Gresham’s Law is intact. – Paul B.
Lynn G. mentioned this disturbing article about the bankrupt city of Vallejo, California: Broke Town, U.S.A. John R. suggested this: Egon von Greyerz: “A Hyperinflationary Deluge Is Imminent”, And Why, Therefore, Bernanke’s Motto Is “Après Nous Le Déluge” Utah House Passes Bill Recognizing Gold, Silver as Legal Tender. (A nice gesture and a good start, but what we need to do is abolish the Federal Reserve and reinstitute a Constitutional bi-metallic currency system for the nation.) Reader C.D.V. sent several inks: Investors Are Seeking Safety in New Harbors: Dollar, Once a Favored Refuge, Loses Ground to Yen, Franc US Standard …
C.D.V. sent this: The Future of Food Prices: What Will Food Cost in 2015. “The current prices in your grocery store don’t presage an approaching storm. But that’s exactly what’s coming, says Bill Lapp, president of Advanced Economic Solutions, a consulting firm in Omaha, Nebraska, and the former chief economist for ConAgra Foods.” Kory P. sent this update on his local chicken feed prices: Nutrena Premium Layer feed last year was $9.99 per bag Nutrena Premium Layer feed two months ago was $10.79 per bag Nutrena Layer feed (no longer premium) is presently $12.49 per bag World Food Prices Increase …
“I Get It Now.” A beginners to guide to investing in physical silver. (A hat tip to CRW for the link.) In Price of Farmland, Echoes of Another Boom J.B.G. sent this from from The Daily Mail: Petrol prices could hit £2 a litre if Libya turmoil escalates, warns Government minister. (At the current exchange rate this works out to about $13 USD per gallon.) Items from The Economatrix: As Silver Touches $34.90 US Mint Runs Out Of Bullion Blanks, Halts American Eagle Silver Coin Production Silver Still In Backwardation / Small Silver Deliveries China “Attacks The Dollar” …
Charley S. pointed me to an opinion piece in The New York Times on the silver market by William D. Cohan: A Conspiracy With a Silver Lining. We are witnessing a market that is so hot, and that has taken so many mainstream market pundits by surprise that they finally realize that it is time to mention alternative media sources like Silverseek, 321Gold and Seeking Alpha. I’ve been quoting and linking to these site since 2005. All that I can say to the mainstream media is: “Well, better late than never!” Here’s a thought to ponder: How many times does …
State Worker Retirements Soar Across the Country Gonzalo Lira: The Dollar, and The Next Ten Days. “The next ten days will be key: Will the dollar spike up? Become the safe haven of everyone fleeing from the world’s troubles? Or will the dollar nosedive, the first big step down in its death spiral?” James Turk – The Dollar Collapse Will Shock the World G.G. suggested this piece by Michael Pento: It’s Taps For the Still Weakening Dollar Items from The Economatrix: February Retail Sales Rise In Most Categories Oil Jumps Above $102 Bernanke Sees 200,000 Hit to Jobs …
C.D.V. sent us a link to an interesting “heat” chart: Feeling the Heat: Global Inflation Britons face soaring food prices as supermarkets boost margins and blame inflation, analysts warn. File Under “Humor Department”: Federal Reserve Chairman Ben Bernanke said Tuesday the U.S. central bank is ready to respond as necessary to a surge in global commodity prices caused in part by unrest in the Middle East, though he said inflation expectations remain low.
Commentary from Barry Eichengreen in the Wall Street Journal: Why the Dollar’s Reign is Near an End. (Thanks to Jeff E. for the link.) Also from Jeff: Muni Default Estimate: $100 Billion. A site that maps gasoline prices, by county, has been mentioned here before: Gas Buddy. So much for the “recovery”: February planned layoffs highest in 11 months: Challenger Items from The Economatrix: Can you feel the artificial stimulus trickling down? US Auto Sales Jump 20% In February. (Perhaps people are out shopping for more fuel-efficient cars.) Oil Prices Jump On Middle East, Bernanke Comments Manufacturing Growing at …
Jim, Just another data point for you about Nickels, from North Carolina. My bank continues to order boxes [of $100 face value in nickel rolls] for me, but they were told by their supplier that 20 boxes was the new limit per week (I had asked for 55 boxes). The funny thing is the manager said they would simply order me 20 boxes/week until I had what I wanted! They also noted a strong uptick (from essentially none) in customer requesting nickels for the same reason I am getting them – base metal value. Though none more than a couple …
At last report, Spot Silver was at $34.65 per Troy Ounce. I told you so… Ben S. mentioned: Is the U.S. dollar still a safe haven? Ben notes: “One opinion in this article is that the dollar is overvalued by 8%. If this is true, wouldn’t the US Dollar Index also be overvalued by the same, thus resulting in an index of approximately 71?” Peter Schiff: “We’re in the Early Stages of a Depression” Items from The Economatrix: History Tells Us That A Surge In Fuel Costs Makes A US Recession Likely Silver Squeeze to Continue The Silver …
Hi James, I’ve been suspicious about the possibility of silver coins being faked ever since reading your links about tungsten “gold” and think I’ve come up with an answer. As long as you’re not looking for collectibles, just buy second-quality silver coins – modern ones like Liberty one-ounce silver rounds, not numismatics. You know, the coins that are scratched, dented, and discolored. They clean up just fine with a little Wright’s silver polish. Who the heck is going to counterfeit dents, scratches, worn spots and discoloration? Also, they’re [relatively] inexpensive. These are the “junk silver” version of (.999) silver coins …