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 nascent rise of Central Bank Digital Currencies (CBDCs). (See the Forex & Cryptos section.)
Precious Metals:
Gold Eyes Fourth Straight Weekly Gain.
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Now Even Jim Cramer’s Talking About Buying Gold.
Economy, Finance & Politics:
The Point of No Return. (Written by one of my heroes, Dr. Thomas Sowell.)
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At Zero Hedge: White House Claims It Had No Notice Of FBI Raid On Trump. JWR’s Comment: If anyone accepts that claim, then The Naieveté Meter is pegging.
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Every Single Senate Democrat Just Voted Against Defining Pregnancy As A Biologically Female Process. JWR’s Comment: The left’s detachment from reality has now reached the point of absurdity.
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The Inflation Reduction Act Won’t Meaningfully Address the Budget Deficit.
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U.S. Labor Productivity Suffers Biggest Crash Ever Recorded, Labor Costs Soar Most Since 1982.
Commodities:
CO2 shortage threatens beer business in another example of the ‘United Shortages of America’.
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America’s Strategic Oil Reserves.
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World’s Largest LNG Traders See Losses Mount Despite High Prices.
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Standard Chartered: Putin’s Gas Weapon Is Weakening As Inventories Build.
Inflation Watch:
The Fastest Growing Category of Government Spending. Yes, it is net Interest on the National Debt. JWR’s Comment: I’ve been warning folks about this for many years: Once interest rates spike, the government’s only way out of the national debt spiral will be via mass inflation. And inflation is a hidden form of taxation.
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By way of Whatfinger.com: Is US Inflation Here to Stay? CPI Report Suggests So.
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Inflation, Gas Prices Make Even Walmart Too Expensive as Foot Traffic Nosedives.
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Chart of the Day: Whoa, Biden Says Zero Inflation and No Recession – Just In Time for the Midterms?
Forex & Cryptos:
Video: Why the US Dollar Is Booming And Creating A Possible Doom Loop.
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Bank of France Eyes 2023 for CBDC Launch.
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Timelines accelerated as 10 CBDCs to be live by end-2023 predicts Omdia. Here is a pericope:
“Despite the volatility of private cryptocurrencies, governments worldwide are committed to issuing their own central bank digital currencies (CBDC), with more than 80% of the world’s central banks already considering launching one.”
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Jameson Lopp: Crypto’s Kryptonite: Complexity.
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I missed seeing this, when it was posted last month: Will El Salvador Default on its Sovereign Debt in 2023?
Tangibles Investing:
A note to military gun collectors: I heard that Navy Arms Company just received a small group of quite rare British #4 Lee-Enfield .303 rifles that had been issued to the French Resistance, during World War II. Each of these carries a secondary (French-added) serial number with a “PP” prefix. Even at prices of $1,195 and up, I expect these to sell out fairly quickly. Requisite Disclosure: I have no connection with Navy Arms, other than as a customer, from time to time.
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Ford hikes price on all-electric F-150 Lightning due to shortages, inflation — here’s how much the pickup truck will cost. JWR’s Comment: With ongoing inflation, electric vehicles will soon be beyond the reach of most buyers. Meanwhile, in classic Marie Antoinette “Let them eat cake” style, the leftist overlords are mandating a conversion of the auto industry to electric vehicles. So much for the Democrats’ claim to represent “the working class.”
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!