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POSTED ON April 10, 2023  - POSTED IN Key Gold Headlines

American consumers continued to pile on debt in February, but the pace of borrowing slowed significantly, another sign the economy could be heading toward a recession.

Overall, consumer debt grew by $15.3 billion in February, a 3.8% annual increase, according to the latest data from the Federal Reserve. That compares with an upwardly revised 19.5 billion increase in January.

POSTED ON April 7, 2023  - POSTED IN Friday Gold Wrap

The dollar may be king, but its throne is getting a little tippy. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about the slow but steady erosion of the dollar’s global dominance and the possible ramifications. He also explains how Federal Reserve monetary policy is like poison.

POSTED ON April 5, 2023  - POSTED IN Key Gold Headlines

Bills introduced in the Texas House and Senate would create a state-issued, gold-backed digital currency. Enactment of this legislation would create an option for people to transact business in sound money, set the stage to undermine the Federal Reserve’s monopoly on money and create a viable alternative to a central bank digital currency (CBDC).

POSTED ON April 5, 2023  - POSTED IN Key Gold Headlines

Yesterday (April 5) marked the anniversary 0f the signing of  Executive Order 6102 by President Franklin D. Roosevelt. It was touted as a measure to stop gold hoarding, but it was in reality, an attempt to remove gold from public hands.

Many people refer to EO-6102 as a gold confiscation order. But confiscation is probably not the best word for what happened in practice.

POSTED ON April 5, 2023  - POSTED IN Key Gold Headlines

China and Brazil recently finalized a trade deal in their own currencies completely bypassing the dollar, but that’s not the only bad news for the world’s reserve currency.

Last week, a Russian official announced that the BRICS nations are working to develop a “new currency,” yet another sign that dollar dominance is waning.

POSTED ON April 4, 2023  - POSTED IN Exploring Finance

Based on the latest Commitments of Traders (COT) report, the latest price action is potentially even more bullish than normal. The latest price moves have been supported by Managed Money but the data clearly shows there is more driving the upward movement.

Please note: the CoTs report was published 03/31/2023 for the period ending 03/28/2023. “Managed Money” and “Hedge Funds” are used interchangeably.

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