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. Today, we look at the rocketing rise in precious metals prices, and the corresponding decline of the Doillar on the Forex. (See the Precious Metals section and the Forex section.)
Back in January, I had surmised that the year 2020 was going to be a year of 20/20 hindsight. Well, now it appears that 2020 will be: The Year of SurvivalIst “I Told You So.” In summary: We were right about stockpiling gloves, hand sanitizer, and N95 masks. We were right about storing toilet paper. We were right about food storage. We were right about buying rural real estate. We were right about investing in guns and ammunition. And now we’ve been proven right about investing in both precious metals and Swiss Francs. Give glory to God for grantng you wisdom and discernment. And give yourself a pat on the back, folks. – JWR
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Gold price marks highest settlement and intraday price on record. The article notes, in a subhead: “Silver tops $24/oz for highest finish since 2013.”
JWR Warns: Whenever the banksters see precious metals “out of whack” (read: in variance with their plans), then they do their best to drive metals prices down with short selling, changing COMEX margin requirements, and other chicanery. Be prepared for a roller coaster ride, in the next few weeks. But please keep your core metals holdings. The banksters and politicians will not be able stop this bull market in metals. They can’t double the size of the national debt and expect gold, silver, and platinum prices to stay in the doldrums. Eventually, currency market equilibrium must be reached. They can’t fight the law of supply and demand. And in this case they inflated the supply of Dollars. When they create trillions of new Dollars like papier hygiénique, then precious metals will inevitably rise! Oh, and the last time I checked (on the evening of 30 July, 2020), it took just over $11,000 USD to buy one Bitcoin.
Economy & Finance:
The Irish Times reports: US economy in biggest fall since the Great Depression
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And at Zero Hedge: Aviation Flu? It Will Take Years For Passenger Numbers To Fully Recover
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US Dollar Paces Big Drop for July as Consumer Confidence Wanes. JWR’s Comment: Well, it appears that President DJT is going to get the weaker Dollar that he’s yearned for. This will of course mean stronger export figures. But it will also mean that we’ll pay more for imports. So if you want any European-made guns or magazines for your collection, then buy them now.
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The recent US Dollar turmoil has not surprisingly benefitted the relative value of the Swiss Franc. (See this chart.) Hopefully, some of my readers took my advice and hedged into Swiss Francs.
The massive rush of sales of guns, ammunition, and full capacity magazines is continuing. Honestly, I don’t expect this to end even after the November 2020 presidential election. My general advice is to minimize your U.S. Dollar exposure and continue to hedge into tangibles. If you have a stack of Glock 19 and SIG P320 pistols in boxes in the back of your gun vault, then you’ll profit handsomely. Stack them deep. And buy plenty of extra magazines. My current favorite: Original factory made Glock 33-round magazines. If the Democrats win the presidency and take control of the U.S. Senate in November, then these presently $30 magazines may become $150 magazines, overnight.
SurvivalBlog and its Editors are not paid investment counselors or advisers. Please see our Provisos page for our detailed disclaimers.
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 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!