Michael W. sent the latest coin debasement news: Stivers losing patience with reluctance to change change
And speaking of nickels: The Nickel-Hoarding Billionaire. Here is a key quote: “‘Not gold futures. You need physical gold,’ Bass declared to Lewis. When the author asked Bass what investment advice he would offer to his mother, the reply was a blunt ‘Guns and gold.’ Want to invest like one of the most successful hedge fund managers of the 21st century? You might not be able to afford gold, but anyone who buys firearms, ammo and nickels at face value will be doing a dead-on Kyle Bass impersonation.” (Thanks to Diana for the link.)
Reader Jim W. sent: Orders for gold go unfilled in Asia. Jim W.’s comment: Why is the [formally-published spot] price plummeting when there is so little for delivery?
As always, government-mandated price controls lead to shortages: Venezuela hopes to wipe out toilet paper shortage by importing 50m rolls. (Thanks to A.S. for the link.)
Items from The Economatrix:
US Posts Widest Monthly Surplus Since 2008 On Revenue. [JWR’s Comment: Gee… Could those trillions of dollars created out of thin air and pumped into the system via MBS derivatives to triple the money supply somehow be a factor?]