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 prospects for a gold-backed BRICS currency. (See the Precious Metals section.)
Precious Metals:
BRICS Gold-Backed Currency to Launch at 2024 Summit?
But also read this piece from Reuters: US dollar’s dominance secure, BRICS see no progress on de-dollarization – report.
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The latest piece by Hub Moolman: Silver and Gold: Insurance Against US Monetary Collapse.
Economy & Finance:
National Debt: Soon at An All-Time High. The article’s opener:
“The most recent projections from the Congressional Budget Office (CBO) confirm once again that America’s fiscal outlook is on an unsustainable path — increasingly driven by higher interest costs. Growing debt, in addition to the rise in interest rates over the past couple of years, has significantly increased the cost of federal borrowing. In 2023, interest costs on the national debt totaled $658 billion — surpassing most other components of the federal budget. “
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Accounting giant KPMG: Election year dissonance: Midyear economic outlook.
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By way of the Whatfinger.com news aggregation site, there is this from the leftist CNBC: Private payrolls grew by just 150,000 in June, less than expected.
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Reader C.B. spotted this: Canada Enacts Digital-Services Tax Amid US Reprisal Threat.