Here are the latest items and commentary on current economics news, market trends, stocks, investing opportunities, and the precious metals markets. We also cover hedges, derivatives, and obscura. And it bears mention that most of these items are from the “tangibles heavy” contrarian perspective of JWR. (SurvivalBlog’s Founder and Senior Editor.) Today’s focus is on Nickels. The U.S. five cent piece “Nickel” is the only currently minted U.S. circulating coin that has a metals content close to its face value. It costs the U.S. Treasury around 7.2 cents to produce each Nickel. (See the Tangibles section near the end of this column.)
Precious Metals:
First, this from Warren Bevan: Precious Metals Massacre
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Next, at Investopedia: Top 4 Platinum Stocks for 2017 (SBGL, PLG)
Commodities:
Now, on to this headline: Oil prices plummet 3 percent on oversupplied market
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Arthur Berman: The Shale Gas Revolution Is A Media Myth
Stocks:
U.S. Stocks Summary (Marketwatch)
Forex:
On to foreign exchange (Forex) news, I spotted this headline at CNBC: China has no intention of devaluing its currency – regulator
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Nigeria: CBN Intervenes in Forex Market with $254.3m
Economy and Finance:
CBO and OMB Agree: Federal Spending Will Top $4T for First Time This Year. (Thanks to B.B. for the link.)
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Reader T.C. sent this news about a resurgence of bartering in Argentina: We Grow Fuel Here: Fighting the Oil Slump by Bartering for Grain
Derivatives
Tangibles Investing (Nickels):
I’ve been asked by several readers for an update on my recommended Nickels (U.S. Five Cent Pieces) hedging strategy. Yes, I still recommend stockpiling Nickels. That is, as long as Uncle Sugar maintains their longstanding 25% nickel and 75% copper minting composition. But once the composition changes? (Most likely to stainless steel, as they’ve been threatening.) Then it would probably not be worth the time to “eye sort” them by mint date, by hand. I suspect that someone would soon invent a magnetic sorting device. But until then, no.
For now, continue to stack them deep!
Provisos:
SurvivalBlog and its Editors are not paid investment counselors or advisers. So 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 of via our Contact form.) These are often especially relevant, because they come from folks who particularly watch individual markets. And due to their diligence and focus, we benefit from fresh “on target” investing news. We often “gets the scoop” on economic and investing news that is probably ignored (or reported late) by mainstream American news outlets. Thanks!
Associated Press. (2017, July 9). U.S. prosecutors: Illegal gold used in money-laundering scheme.
Retrieved from http://www.wctv.tv/content/news/US-prosecutors-illegal-gold-used-in-money-laundering-scheme-433475673.html
Two comments on gold: first, it’s obvious by now that gold prices are being manipulated and that physical gold is getting more and more scarce. Therefore, paying attention to short term price trends is a waste of time. Continue accumulating as you have the money. In a crisis, the manipulation will no longer be possible and the price will reach its appropriate and much higher level.
Second, it’s worth watching the first John Wick movie for its treatment of gold. Perhaps I’m paranoid (OK, yes), but the camera shots of stacks of gold coins in Wick’s floor and Vigo’s safe look like government-sourced propaganda. “Only criminals and assassins want gold,” is the message. Plan accordingly!
Why people get all upset when gold and silver drops “dollar” value perplexes me.
We’re not going to cash out until our dollars become worthless. That’s the point, isn’t it?
And at that time, precious metals won’t be valued in terms of “dollars”, but in terms of “what can I get for an ounce in labor, material, goods”.
For this reason, people should be buying precious metals on a regular basis regardless of price, as what you pay for it now becomes irrelevant once we’re in a situation that requires using it.
Right on the money.
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And if possible, use an untracked source for payment such as cash or a money order.
Just remember that over a certain amount, money orders require ID. At the PO it’s $3000.00.