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 promising cryptos for 2022, and a brief crypto crash. (See the Forex & Cryptos section.)
Precious Metals:
Reuters: Gold set for third weekly loss as faster tapering talks weigh.
o o o
A Couple Stored IRA Gold at Home. They Owe the IRS More Than $300,000. JWR’s Comment: For some sound advice on how to set up a gold IRA the right way, consult Perpetual Assets. (They are one of our advertisers.)
Economy & Finance:
Biden says economy is ‘stronger,’ despite disappointing job numbers.
o o o
Northern Trust: Global Economic Outlook for 2022.
o o o
India’s economy grows by 8.4% amid signs of recovery.
Commodities:
Dano spotted this: Metal fabrication ready to take off in 2022.
o o o
OilPrice News reports: Iran Delivers Fourth Crude Condensate Cargo To Venezuela.
o o o
Nickel, copper, or gold: Which metals will outperform in 2022?
Inflation Watch:
Fed’s Bullard wants faster policy tightening, citing ‘inflation shock’. An excerpt:
“Bullard has been among the most hawkish of Fed policymakers, urging the central bank to end its bond-buying program by early next year to put the Fed in position to start raising interest rates as early as the spring if needed to contain inflation. The remarks Friday took that a step further.
It is too early to assess the impact of the emergence of the new Omicron variant of COVID-19 on the U.S economy, he said.
Fed policymakers next meet on Dec. 14-15 and will consider speeding the reduction of its bond-buying program, which currently is on track to end by June of next year. Even with the reductions, the Fed is still actively easing monetary policy by buying bonds; interest rates remain near zero where they have been since March 2020.”
o o o
Charles Hugh Smith: Why Inflation Is A Runaway Freight Train.
o o o
Inflation is feeling increasingly more pervasive, persistent, says Blackstone president.
o o o
Tax brackets and standard deduction to increase for 2022 tax year due to higher inflation.
Forex & Cryptos:
At Currency Thoughts: Inflation Up, Unemployment Down, and a Beige Book Report that Won’t Impede Fed Tapering.
o o o
Analysis: Inflation may persuade Bank of Israel to embrace shekel strength.
o o o
BoE eyes first rate rise since 2018 as inflation surges.
o o o
Epic Crash Hits Crypto Markets As Bitcoin Plummets to $43,500 in Matter of Minutes. JWR’s Comment: By Sunday evening, the cost of 1 BTC had rebounded to $49,066 USD. Look for more rollercoaster price action, in the weeks to come. I predict that the big drops will be when Western governments start to heavily regulate and tax cryptos, first concentrating on the exchange companies. Once the governments are ready to launch their own transparent sovereign cryptos, they will declare all-out war on private, opaque cryptos.
o o o
Next Cryptocurrency to Explode in 2021-2022.
o o o
10 Promising Cryptos With Potential to 10X in 2022.
Tangibles Investing:
Anyone looking for a very stealthy armored vehicle should take a look at this: 2014 GMC G35/G3500 Van — Armored 1 Ton GMC Savana Van Duramax 6.6 Liter.
o o o
Blockbuster art week sets record with more than $2.6 billion in sales.
o o o
o o o
For those with an interest in investing in Pre-1899 antique guns, this new video series on antique guns and gunsmithing looks promising: The Cinnabar. Their gunsmithing shop — Cinnabar Gunworks — on the shore of Summer Lake in remote south-central Oregon is now open to the public. They do stock fitting, machining, parts fabrication, bluing, and color casehardening. They specialize in guns of the Old West.
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!