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 a possible rise in the Argentine Peso. (See the Forex and Cryptos section.)
Precious Metals:
Both silver and gold appear to be building a base for a price breakout in the new year. I’m also bullish on platinum, although the more “industrial” price of platinum may dip as we slip into the Biden Recession. But, then again, if a regional war or World War, The Third(TM) breaks out, then the price of platinum will surely zoom up to stratospheric heights. I’m so confident in the prospects for silver that I increased the pricing divisor to 20.5 times face value for anyone who wishes to pay with pre-1965 U.S. silver coinage when they buy a gun or knife from my Elk Creek Company business.
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Jim Curry, over at Gold-Eagle.com: Gold Forecast: Gold Cycles Higher into Spring of 2024.
Economy & Finance:
From Fox Business: IRS delays tax-reporting rule on Venmo, PayPal payments over $600.
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Skyrocketing Governmental Debt Threatens Financial Collapse.
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At Wolf Street: Money Market Funds, Large CDs, Small CDs All Surged: Americans Figured it Out.
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Mises Wire: Fed Rate Cuts Will Not Save The Economy.
Commodities:
At The Economic Populist: Global oil production was 1,680,000 barrels per day less than demand in October.
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The Biden Administration’s Electric Vehicle Subsidies Are Becoming Another Solyndra.
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Reader H.L. spotted this item: US Backing New Plan To Cripple Coal Industry At UN Climate Conference.
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From OilPrice News: The Pricey Reality Behind Biden’s EV Aspirations.
Inflation/Deflation Watch:
Inflation Is Still Burning a Hole Through Your Money.
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In my recent shopping trips to both a Big Box hardware store with orange decor and a Farm & Ranch store, I’ve been noticing hardware price increases of around 20 to 30% in the past year. Anything made of steel or brass has gone up dramatically. For example, I just bought some threaded “Chicago Screw” rivets for repairing horse tack. A tiny package of five nickel-plated two-piece Chicago Screws cost me $3.99. I am nearly certain that they were priced at $2.99, last year.
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Avalanche Lily mentioned that her most recently-purchased batch of sweetened condensed milk cans was made of very thin steel – and in fact she described them as “dangerously thin.” Skimping on packaging is just another example of “shrinkflation.”
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Bloomberg: Inflation Expectations Are Weird.
Forex & Cryptos:
One of my consulting clients who dabbles in the Forex mentioned that he was buying call options on the Argentine Peso. The new government, he says, has a good chance of getting the currency’s rampant inflation under control. If the Argy Peso does indeed bounce, then his options may provide him a substantial gain. Time will tell…
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The chronically-weak South African Rand may get a boost with the rumored 2024 announcement of a BRICS group currency exchange regime that would take U.S. Dollars out of the loop for many oil purchases.
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D.S.V. was the first of several readers to mention this news piece: IMF Calls on Governments to Replace Cash with CBDC.
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Linked over at the Whatfinger.com news aggregation site: Cryptocurrency Firm Tether Freezes $225 Million in Customer Funds over Human Trafficking Allegations.
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Bitcoin Magazine: Former NYSE President Says Money Will “Flood” Into Bitcoin Upon Spot ETF Approval.
Tangibles Investing:
Gun industry merger mania continues: Czech gunmaker Colt CZ makes offer for Vista Outdoor. (Our thanks to reader C.B. for the link.)
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Many of our advertisers – both paid banner advertisers and our affiliates — are running Cyber Monday specials, with deep discounts. Take a look at the ads in our right-hand bar, and on our Affiliates page. Here are just three examples:
- Palmetto State Armory is running a sale on Premium 5.56 Nickel Boron Bolt Carrier Group with Carpenter 158 Bolts for just $99 each. (Normally priced at $179 each.) To find them, paste this SKU in their Search box: 516446914. I prefer these Bolt Carrier Groups for all of my 5.56 AR builds.
- Optics Planet is selling covert Savior Equipment OPMOD Ultimate Guitar Hardshell Single Rifle Cases for just $139. They are available in brown and blue. To find them at the Optics Planet website search on: RC-GT-ACOUSTIC-OP-BN
- GunMag Warehouse is running a lot of “10 Pack” sales on magazines as well as a sale on Glock 17, 19, 26, 34 Gen 4/5 9mm 33-Round Factory Magazines for just $29.99 each. To find those, search for SKU: GLK33RDCONFIG
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!