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 Expatriation. (See the Off-Shore section.)
Precious Metals:
Gold Forecast: Could Prices Continue to Soar Higher Over the Next Decade?
o o o
Alasdair Macleod: Gold At $2000+. So Why The Fuss? Here is a snippet:
“In the investment industry it is monetary debasement that gives you your living. For the rise in the general level of prices of financial assets, measured by various indices, is little more than a reflection of the loss of purchasing power of your state’s currency. The world has been enjoying the phenomenon particularly from the mid-1970s, four years after the last vestiges of Keynes’s barbarous relic, when President Nixon removed pet rocks from the monetary scene. A continual decline in the dollar’s purchasing power ensued. Apart from the occasional hiccup, from 1982 when the S&P500 Index rose from 291.34 to today’s 3,270 the general public has appeared to make money.
It has not been an easy environment to convincingly challenge, being populated by group-thinkers believing their stock and property gains have been the consequence of their individual financial acumens. But one of those periodic hiccups is now upon us, threatening to be more disruptive than anything seen hitherto in our lifetimes, which the macroeconomists in the central banks and governments tell us will require virtually unlimited inflationary finance to resolve.”
Economy & Finance:
U.S. jobs data shows coronavirus weakening economic rebound
o o o
H.L. sent us this from Zero Hedge: Farmageddon Continues As Bankruptcies Rise 8%
o o o
Washington talks on vital COVID-19 rescue money are teetering on the brink of collapse
o o o
At Wolf Street: End of QE, Week 8: Fed’s Assets Fall by -$4 Billion for the Week, Down -$224 Billion Since June 10. JWR’s Comment: Has the can received its last kick?