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 possibility of another gold confiscation. (See the Precious Metals section.)
Precious Metals:
Reader H.L. mentioned this, over at Doug Casey’s International Man: Don’t Dismiss the Possibility of Gold Confiscation. JWR’s Comment: This is just one more reason to have a precious metals portfolio that is heavy on silver. Confiscating all of the citizenry’s gold again would be very difficult, but the logistics of confiscating silver (with 15 times more bulk and weight) would be nigh-on impossible.)
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At Gold-Eagle.com: Yields Set To Fall & Gold Set To Soar.
Economy & Finance:
UPS Offers Severance Package to 167 Pilots as Air Cargo Slumps. JWR’s Comments: The “official” announcement of the recession won’t come for several months. But in essence, it is already here, folks!
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Linked over at the Whatfinger.com news aggregation site: US credit card debt has reached a record high of $1 trillion dollars, with an average interest rate of 20.63 percent, indicating a potential debt crisis.
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At Zero Hedge: Peter Schiff: Government Spending Has Bankrupted The US.
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Dollar General Plunges On Missed Earnings, Outlook Slashed; A Warning Sign Consumer Cracks.
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Consumers Win: Apple to Embrace USB-C with iPhone 15. (Our thanks to reader C.B. for the link.)
Commodities:
Reader C.B. sent us this LNG news: Biden admin quietly reverses Trump-era rule, bans transporting fossil fuels by train.
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European Commission Grapples With Influx Of Ukraine Grain.
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Labor Day Weekend Gasoline Prices Highest In Over A Decade.
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Simon Watkins, by way of OilPrice News: China’s Influence In Oil Markets Grows With BRICS Expansion.
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Natural Gas Stands To Win As Offshore Wind Takes A Hit.
Inflation/Deflation Watch:
U.S. Inflation and the Hard Times That Are Coming.
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Forex & Cryptos:
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Best ICOs to Invest in for 2023 According to Reddit. JWR’s Comment: To my mind, depending on the “Group Think” of Reddit for gauging markets is just one notch above trusting the stock market tips offered by random cab drivers.
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South Korean Hana Bank and BitGo to launch joint crypto custody venture.
Tangibles Investing:
Another piece linked over at the Whatfinger.com news aggregation site: US gun sales top 1 million for 49 consecutive months.
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The Prices of Used Electric Cars are Freefalling.
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!