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 de-dollarization.
Precious Metals:
World’s Largest Hedge Fund Makes The Ultimate Case For Gold.
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Over at Gold-Eagle.com: De-Dollarization Happening Now, Gold & Silver Being Drained! – Andy Schectman & Ninja
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Tom Luongo: Here’s How Far the Fed will Hike, & How Gold & Silver Respond
Economy & Finance:
Just as expected: Federal Reserve raises interest rates by 75 basis points for third straight month.
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Another jumbo Fed rate hike poised to add $2.1T to national debt, CRFB says.
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At WND: Americans continue to pile on more and more debt.
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10-year Treasury yield jumps to 3.51%, the highest level since 2011.
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As Biden Closes in on 100 Executive Orders, He’s Costing Taxpayers an Astronomical Amount of Money.
Commodities:
Reader C.B. sent us this: Food Supply Stays Tight as Disappointing U.S. Harvest Adds to Global Challenges.
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OilPrice News reports: Germany’s Natural Gas Storage Will Last For Two And A Half Months.
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A Natural Gas Shortage Is Looming For The U.S.
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Lumber futures are down 62% amid a ‘Great Reset.’ Here’s when DIYers can expect the best deals.
Inflation Watch:
NBC: Ford warns investors of an extra $1 billion in supply chain costs during the third quarter.
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Biden claims inflation rate hardly up at all ‘month-to-month’.
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Poll: 63% of Americans Say They Are Falling Behind the Cost of Living.
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Why Experts Say High Inflation Isn’t Going Away Anytime Soon, Even if the Worst Is Behind Us.
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American families may have to spend an additional $11,500 just to get by this year due to inflation.
Forex & Cryptos:
What happens if the United States loses its world reserve currency status?
An excerpt:
“If China goes to war with Taiwan, it would mean deep economic waves for the US. But if China manages to usurp the US and become the world’s reserve currency things get really bad. Virtually overnight, the US Dollar would become worth paper it’s printed on. Its purchasing power, which has been slipping for some time now, would bottom out.
Not to mention all the US debt that China holds could come due, devaluing the dollar that much more. What does that mean for the average citizen? It means that your paycheck, which you poured 40 or 80 hours of your time and labor into, is worth pennies instead of dollars.
Affording basic necessities like food, water, shelter, and clothing become obstacles and, in some cases, insurmountable problems. There’s no ‘rainy’ day fund to save toward that trip to Disney World or a trip to the beach. It’s grinding day in and day out just to afford a meal.”
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Reader F.E. suggested this commentary from South Africa. Nicholas Shubitz: A shared Brics reserve currency has benefits but many risks.
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Central Bank Digital Currencies are the Bullet Train to Digital Concentration Camps.
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What is ‘the merge’? The Ethereum crypto update token users are talking about, explained.
Tangibles Investing:
Bloomberg: Home-Flipper Opendoor Hit With Losses in Echo of Zillow Collapse.
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As Interest Rates Continue To Rise, Is It Better To Choose a Variable or Fixed-Rate Mortgage? JWR’s Comment: I most strongly advise my readers to avoid variable-rate borrowing! Many folks will get blindsided by higher rates, as the Federal Reserve continues tightening credit.
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!