Here are the latest news items and commentary on current economics news, market trends, stocks, investing opportunities, and the precious metals markets. We also cover hedges, derivatives, and obscura. Most of these items are from the “tangibles heavy” contrarian perspective of SurvivalBlog’s Founder and Senior Editor, JWR. Today, we look at the strengthening U.S. Dollar. (See the Forex & Cryptos section.)
Precious Metals:
Gold gains as inflation worries offset strong dollar.
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Gold Is Back in Vogue With Bulls Loving Faster Inflation Again. Here is an excerpt from the Yahoo article:
“While bullion is often bought as a way to protect wealth when consumer prices are climbing, this year’s inflation had weighed on the metal as investors bet that it would spur the Federal Reserve to scale back huge stimulus measures. But with the Fed determined to keep rates low while unemployment remains elevated, worries about out-of-control inflation are boosting gold’s allure.
That was clear on Wednesday, when gold jumped to break out of a 15-month downtrend after data showed U.S. consumer prices rose the fastest since 1990. On Thursday, spot prices rose as much as 0.9%, before paring some of the gain.
Inflation “is not transitory,” said Nicky Shiels, head of metals strategy at MKS (Switzerland) SA. “It’s injected some bullish momentum. That’s a change from the previous ‘thinking’ since the Fed’s taper threat is out of the way.”
Taxes:
Biden’s Vaping Tax Sparks Concerns People Will Go Back to Cigarettes.
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“Fair Share”? Here’s Every State’s Top Tax Rate Under Biden’s Massive Spending Bill.
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$283,927,000,000: Federal Tax Collections Set Record in October.Continue reading“Economics & Investing For Preppers”