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 U.S. Treasury’s Trillion Dollar Coin Backup Plan. (See the Tangibles Investing section.)
Precious Metals:
Trillion-dollar platinum coin could be minted at the last minute. JWR’s Comments: The absurdity of this proposal illustrates just how detached from reality both our monetary system and the Federal budget process have become. My suggestion is this: If they are going to “create a trillion” then they should mint it on an aluminum blank, to save the taxpayers about $950. Oh, and they might as well go Full Gideon Gono, and denominate that coin for $10 Trillion USD. That way, they’ll be ready for the next year of Federal over-spending. And they can just blame it on Trump, as is their habit.
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Arkadiusz Sieroń: Will Q4 2021 Be Better for Gold?
Economy & Finance:
Finance executives say default risk is already hurting the economy.
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At Zero Hedge: Dry Bulk Shipping Rates Hit $80,000 Per Day As Buyers Scramble For Coal.
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U.S. trade deficit jumps to a record high in August.
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At Wolf Street: The Ugly Math: GM, Ford, other Legacy Automakers Throw Hundreds of Billions at EVs, Only Auto Segment that’s Growing. Tesla Made Them Do It.
Commodities:
Several readers sent us this: World’s Largest Commodity Traders Face Massive Margin Calls As Global NatGas Arb Explodes.
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Natural gas price spikes 25% on soaring demand.
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Copper declines on firm dollar.
Inflation Watch:
Key inflation gauge watched by the Federal Reserve hits another 30-year high.
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“Transitory” inflation, the failure of imprecise language, and unanchored expectations.
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Poland raises interest rates, seeking to tame inflation.
Forex & Cryptos:
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Forex Today: New Zealand Hikes Rates – 06 October 2021.
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Digital Yuan CBDC plans revealed as China’s crypto ban kicks in.
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Bank Of America’s Crypto Report: All You Need To Know.
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US Justice Dept announces launch of national crypto enforcement team.
Tangibles Investing:
Farmland Values on a Rocket Ship.
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Palmetto State Armory (one of our affiliate advertisers) is running a “Free Shipping on All Firearms” special that will last through Sunday, October 10th, 2021.
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. And it need not be only about commodities and precious metals. Thanks!