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 demand for Queen Elizabeth gold and silver coins. (See the Precious Metals section.)
Precious Metals:
QTR: Gold And Silver Are Disappearing From Vaults Worldwide.
And here is another perspective: London Silver Inventories Continue To Plummet As Metal Exits LBMA Vaults.
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Queen Elizabeth’s Death Puts Squeeze On Already Tight Bullion Coin Market. A quote”
“There was an immediate and dramatic surge in demand for gold and silver bullion coins bearing the queen’s effigy upon her passing. According to News.com.au in Australia, ‘Collectors are scrambling to get their hands on coins with Queen Elizabeth’s face as prices skyrocket after her death.’
The owner of a Melbourne coin shop called the demand for coins with the queen’s likeness ‘insane.'”
Economy & Finance:
Posted on September 13th: The biggest Fed rate hike in 40 years? It could be coming next week.
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At Zero Hedge: Nomura Is First Bank To Call For 100bps Rate Hike Next Week.
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$4,408,452,000,000: Federal Tax Collections Set Record Through August.
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Student loan forgiveness plan has a SCOTUS problem.
Commodities:
Reader C.B. sent us this: Biden’s freeze on oil, gas leases threatens to bring Europe’s energy nightmare to America.
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U.S. emergency oil reserves tumble to lowest since 1984.
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OilPrice News reports: The Energy Market’s Next Crisis: Oil Tanker Shortages.
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The energy crisis has revived the coal market.
Inflation Watch:
Inflation rose 0.1% in August even with sharp drop in gas prices.
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What Happens to Inflation When the U.S. Dollar Begins to Collapse?
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Phoenix Inflation at Record 13% Shows Divergence Among Cities.
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Reader H.L. spotted this: “There Is No Good News Across This Report” – A Shocked Wall Street Reacts To Today’s Scorching CPI Print
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BLS: Inflation in Price of Food Highest Since 1979. Here is a qupte:
“The report indicated that the 11.4 percent year-to-year increase in the price of food was the highest in 43 years.
“The food index continued to rise, increasing 0.8 percent over the month as the food at home index rose 0.7 percent,” said the report.
“The food index increased 11.4 percent over the last year, the largest 12-month increase since the period ending May 1979,” said the report.”
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At Wolf Street: Services Inflation Spikes, Core CPI Jumps, Food Inflation Worst since 1979, Durable Goods Rise, but Gasoline & Airfares Plunge.
Forex & Cryptos:
Why A Strong Dollar May, Or May Not, Be A Good Thing.
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Canadian Dollar Forecast: USD/CAD Hinges on US Inflation Data as Fed Weighs.
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From the FEE: Why a ‘Digital Dollar’ Is a Really Bad Idea.
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Ethereum community wastes no time minting PoS NFTs right after the Merge.
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What Is a Hardware Wallet And How Do You Set One Up?
Tangibles Investing:
The Fed could crash the housing market. A pericope:
“Investors are getting spooked that the Federal Reserve’s aggressive interest rate hikes could damage the US economy (just look at Tuesday’s selloff).
One area of growing concern: housing. Interest rate hikes can lead to higher mortgage rates, which could cause people to think twice about buying a home.
So far, sales are slipping, while prices are holding steady. But some economists warn continued historic rate hikes by the Fed could risk crashing the housing market, underscoring the difficult task ahead for the central bank.”
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Provisos:
SurvivalBlog and its Editors are not paid investing 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!