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, another look at the effects of inflation. (See the Inflation/Deflation Watch section.)
Precious Metals:
The precious metals rally is continuing. As of Friday, April 5th, 2024 (AM):
Published on Wednesday: Gold Prices Have Surged 23.3% in the Last Six Months.
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In The WSJ: Gold Is Rallying. It Isn’t About Inflation This Time. An excerpt:
“When confidence in society and political institutions erodes, the appeal of gold and other precious commodities like diamonds rises as alternative stores of value that aren’t contingent on societal arrangements. They can also be transported in an emergency. Of course as an investor, an actual catastrophe isn’t necessary to profit, with prices getting bid up as concerns grow. Bitcoin and other cryptocurrencies hold a similar appeal, but they are far less tested, less understood and still subject to big regulatory risks.”
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Gary Tanashian, at Gold-Eagle.com: Why Are Gold and Commodities Positive Amid Rising Long-term Yields?
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At Zero Hedge: Inflation-Risk Latecomers Pile Into Silver.
Economy & Finance:
Skyrocketing US debt could trigger market shock, CBO chief says.
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Michael Wilkerson: America’s Minsky Moment Approaches. (Thanks to blog reader Steve S. for the link.)
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H.L. sent us this news from Argentina: Milei to Cut 70,000 State Jobs, Boasting of Chainsaw Austerity.
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Linked over at the Whatfinger.com news aggregation site: CARGO SHIP BACKLOG BUILDS AFTER BALTIMORE BRIDGE COLLAPSE.
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Japan’s Lost Decades: Are We On The Same Path?
Commodities:
Blue States, Eco-Galloping: 8 states are planning to ban the sale of gas-powered cars entirely – after Biden unveiled ambitious plans to phase them out by 2032.
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WTI Dips After Surprise Crude Inventory Build.
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Reported by Bloomberg on Wednesday: Copper Rallies Amid Rising Optimism on Chinese Economic Outlook.
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From OilPrice News: Bullish Bets on Gasoline Reach Four-Year High.
Inflation/Deflation Watch:
Inflation’s Relentless March: A Crushing Blow to Consumers. JWR’s Comments: The sad truth is that the US Dollar has lost about 25% of its purchasing power since January of 2020. In essence, we’ve been robbed by inflation. As I’ve mentioned before inflation is a hidden form of taxation. At this point, all we can do is: hedge, become self-sufficient, vote with our feet, and pray. The ruling Demopublican Party is incredibly well-entrenched. So their government program overspending, increasing regulation, and tax increases will almost certainly continue — especially in the “Blue” states.
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Federal Reserve minutes: Officials worried that progress on inflation could stall in coming months.
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RSM: Revising our 2024 inflation outlook: Moving back to a 2% target. JWR’s Comments: The Powers That Be long ago concluded that they could incrementally rob us of our purchasing power through inflation without risking a revolution or even risking the careers of incumbent politicians. They keep getting re-elected — some of them for nearly a lifetime. Most American voters are naive, apathetic, and uninformed.
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Forex & Cryptos:
Forex Seasonality – April 2024: GBP/USD’s Most Bullish Month, USD/CAD’s Most Bearish.
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At Currency Thoughts: Central Bank of Chile Cuts Rate.
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This important news got buried: SWIFT Planning Launch of New Central Bank Digital Currency Platform in 12-24 Months.
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At WND: Here’s what Biden’s DOJ, legacy media are hiding about Bankman-Fried case.
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The Bitcoin Halving: Anticipating Price Shocks and the Quest for $100,000.
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Crypto industry pushes back on ‘unworkable’ SEC transaction rules.
Tangibles Investing:
Published in January: Experts Predict the 11 Most Valuable Vintage and Antique Pieces for 2024.
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I recently added three interesting antique guns to my Elk Creek Company inventory:
1.) A Thomas Bland Sidelock side-by-side hammerless shotgun, 12 gauge. Has 2-1/2″ chambers and 26″ barrels. Double trigger with extractor. In excellent overall condition as refreshed with English-sleeved barrels and reproofed in London. These are modern fluid steel barrels. Manufactured in 1895. Mechanically excellent.
2.) A nice pre-1890-production S&W .32 S&W 5-shot exposed hammer nickel-plated exposed hammer revolver with 3-1/4″ barrel. Very nice overall condition with 97%+ original nickel and color casehardened finishes. Come with an original S&W factory box that is period correct, and with markings that match this revolver.
3.) A scarce original Swedish M1894/14 carbine, 6.5×55 Mauser, that is unmolested. 6.5x55mm Swedish, 18” barrel with a very good bore. This is a Carl Gustaf arsenal-made carbine that has the modified 1914 pattern nosecap with bayonet boss. It is clearly dated 1898 on the receiver ring!
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!