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 credit cards and their proper use. (See the Credit Card Use and Credit Card Debt section.)
Precious Metals:
China’s central bank purchases 10 tonnes of gold in December, analysts say it’s nowhere near done buying. JWR’s Comments: Those are just the official numbers on Chinese gold purchases. The word in the Comex pit is that the Chinese People’s Liberation Army (PLA) is making many additional unofficial gold and silver purchases. Many of these are via intermediaries and offshore subsidiary ventures. They are amassing quite a pile of gold. I assume that they have done so because they see war clouds on the horizon.
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Mike Gleason, at Gold-Eagle.com: Massive Silver Flows, Potential Short Squeeze from Trump Tariff Threat.
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Sound Money Advocates in Wyoming Introduce Bill to Establish Gold Reserve.
Economy & Finance:
This was reported back in August: Those Biden-Harris job growth numbers? Never mind.
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Fitch: US Faces Several Fiscal Policy Challenges in 2025.
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WSJ: A Bond Selloff Is Rocking the World. You Might Want to Take the Other Side.
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CBO Estimates $710 Billion Deficit for First Three Months of Fiscal Year 2025.
JWR’s Comments: The Federal debt ceiling will be reached again, in just a few days. The federal debt and budget deficit will continue to be chronic problems until Congress makes substantive cuts in the size of government, and government spending. I believe that Trump, his cabinet, and the DOGE boys have the cojones to cut the size of government, but presently the Congress does not. This may come down to a major standoff between the Executive and Legislative branches, most likely the next time that there is a threatened government shut-down period. My advice? Stay tuned, buckle up, and hold tight to your precious metals. Also, contact your congresscritters repeatedly and them that you want less government and that you will support budget cuts, even if they are painful.
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Report: Your Bank Might Be Spying On You For The Feds.
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Social Security’s full retirement age is increasing in 2025: What to know.
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Up in smoke: The cost of the Los Angeles wildfires’ damage could be at least $250 billion. Here’s who pays the bills.