Here are the latest news items and commentary on current economics news, market trends, stocks, investing opportunities, and the precious metals markets. In this column, JWR also covers hedges, derivatives, and various obscura. This column emphasizes JWR’s “tangibles heavy” investing strategy and contrarian perspective. Today, we look at the ESG scheming of the World Economic Forum (WEF) and other pressure groups. (See the Economy & Finance section.)
Precious Metals:
Gold ETF demand turns positive in May as investors look for safe-haven assets.
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Rick Mills, at Gold-Eagle.com: Gold Revaluation and the Hidden Motive Behind Central Banks’ Gold Buying.
Economy & Finance:
Many of the warnings in this 2021 report published by Real Clear Politics are coming true: Capitalism, Socialism and ESG.
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EU Company ESG Disclosure Rules Set To Be Eased.
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I found this Dan Bongino segment about the Mastercard “Doconomy” scheme linked over at the Whatfinger.com news aggregation site: The Insane New MasterCard That Fights Climate Change Will Leave You Speechless.
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The Conference Board: 2023 Banking Crisis: US By the Numbers.
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A summary video dispelling the myths of Brexit: Superb UK Victory Stuns Entire EU.
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Eurozone Investor Mood Darkens Due to ‘Problem Child’ Germany, Survey Finds. JWR’s Comments: The stagnant economy in Germany is an indicator of what will probably be a global recession. Plan and invest, accordingly.
Commodities:
Over at Utility Dive: Bipartisan group of senators warns DOE not to make transformer shortage worse with new efficiency rule. JWR’s Comments: The supply of transformers for grid power distribution is just one example of how our nation has allowed itself to become overly dependent on manufacturing in mainland China. This will surely come back to bite us, if and when we get into a military confrontation or a diplomatic dispute that triggers a trade embargo.
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Ukrainian dam destruction sends global prices of wheat, corn soaring.
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A Copper Buying Spree Is Set To Commence.
Inflation/Deflation Watch:
CNBC: How inflation and higher interest rates have reshaped car buying for many Americans.
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Germany: Inflation rate of +6.1% expected
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USN&WR: Analysis -Trauma of Japan’s Deflation Battle Keeps BOJ Wary of Policy Shift.
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UK Inflation Falls by Less Than Expected, Heaping Pressure on BoE.
Forex & Cryptos:
Forbes: Top 10 Weakest Currencies In The World In 2023.
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At Currency Thoughts: Another Australian Central Bank Rate Hike, and This One Was Not Anticipated.
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Reported on Tuesday (June 6, 2023): Bitcoin drops below $26,000 after SEC sues crypto exchange Binance.
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Bitcoin Is Reportedly Trading At a $2k Premium on Binance.us
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US SEC sues Binance and Coinbase, but Bitcoin remains above $26k.
Tangibles Investing:
2023’s Housing Correction Could Be The Largest Since Post-WWII. JWR’s Comments: Be prepared for a bear market that will last several years. I hope that readers took my advice last year and sold off their “spec” properties, rentals, and vacation houses.
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Palmetto State Armory (one of our affiliate advertisers) has some “Days of Summer” specials running this week. They include surplus Romanian 75-round AK-47 drum magazines, with pouches, for $199 each. These are considered some of the most sturdy and reliable AK drums made. To find this deal on these magazines, paste the SKU “51655130429” into the PSA website search box. They also have blemished AR-15 lower receivers (stripped) on sale for just $29.99 each! The SKU for those is 1728B.
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. Thanks!