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, six months into Donald Trump’s second term in office, a special look at Trumponomics 2.0.
Precious Metals:
Rep. Massie Introduces Bill to Audit U.S. Gold Reserves.
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Gold Price Forecast June 2025: What’s Driving Gold Prices Right Now? JWR’s Comments: In the past week, gold rose 3% and silver was up about 10%, in Dollar terms. We should never lose sight of the fact that the value of gold never changes much. But the “price” of precious metals, as quoted in fiat currencies, is actually a measure of the relative and gradual worthlessness of the world’s currencies. As I’ve written before, I prefer to analogize the global currency milieu as a Leper Colony. The fiat currencies are all lepers. They are all dying slow, painful deaths. Some of them are just dying more slowly than others. The Swiss Franc and the U.S. Dollar are two of the healthier lepers, with a few more fingers and toes than their neighbors. But inevitably they will also die. The shed skin and digits that litter the leper colony are coinage. The dead that are carried away are the heavily redenominated, worthless and repudiated currencies. These currences are almost forgotten, though they now have descendants — sometimes using the same name — who are also infected: the Continental, the Weimar Germany Papiermark, the Georgian Kuponi, the Hungarian Pengo, the Greek Drachma, the Yugoslavian Dinar, the Zimbabwean Dollar, the Bolivian Peso, the Turkish Lira, and the Nicaraguan Cordoba. (Most of these had replacement currencies at rates of 1 million-to-1, or higher.) Some immortals visit the leper colony, but they are immune to leprosy. They have names like Mr. Gold and Mr. Silver. The lepers may soon have another generation of offspring who will be born infected. These popular but doomed kids will be called CBDCs.
Economy & Finance:
Reuters: Trump’s economic ‘golden age’ meets Fed’s brass tacks.
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Audio, at the Whatfinger.com news aggregation site: “No One’s Ready For What’s Coming To The Middle Class…” – Victor Davis Hanson. (Note: Ignore their inane and distracting A.I.-selected stock footage video. I suggest just listening to the audio.)
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Trump Opens Waitlist for $5M Investor Visa.
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Deloitte: United States Economic Forecast.
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Reported on Monday: Stock market today: Dow, S&P 500, Nasdaq rise as momentum builds for Trump trade deals, tax bill.