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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 […]
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.
Most people in the mainstream seem to think that the recent bank bailout plugged the crack in the dam and stabilized the banking sector. But one big bank boss disagrees. In an annual letter, JP Morgan Chase CEO Jamie Dimon said that the banking crisis isn’t over and that we will feel its repercussions for […]
There’s no sign of a slowdown in central bank gold buying. In February, central bank gold reserves rose by another 52 tons, according to the latest data compiled by the World Gold Council. It was the 11th straight month of central bank net gold purchases.
More bad news for the dollar. Last week, China and Brazil announced a trade deal in their own currencies, completely bypassing the dollar. This represents another small shift away from dollar dominance.
Energy prices have moderated and the price of some goods has dropped in recent months, but the cost of services continues to rise at a red-hot pace and is at the highest level since 1984. As a result, the core personal consumption expenditures price (PCE) index rose by 4.6% year on year. This is yet […]
Tennessee Gov. Bill Lee has signed a bill into law that creates a process for the state to buy, sell, and hold gold and silver. This sets a foundation for Tennessee to achieve more financial independence with gold and silver reserves and could help undermine the Federal Reserve’s monopoly on money.
Central banks have been gobbling up gold. On net, central banks bought 1,136 tons of gold in 2022. It was the highest level of net purchases on record dating back to 1950 and the 13th straight year of net gold purchases. The question is will central banks continue to have an appetite for gold through […]
Jewelry production is an important driver of overall silver demand. In 2022, the amount of silver used in jewelry was up around 29% as overall silver demand hit record levels. Silver jewelry production used around 235 million ounces of silver. And according to a recent survey by the Silver Institute, silver jewelry sales are on […]
After ending 2022 on an upward trend that continued into January, Chinese gold demand surged again in February as the economy continues to rebound from government-imposed COVID policies. Gold withdrawals from the Shanghai Gold Exchange (SGE) totaled 169 tons in February. This is a reflection of strong wholesale demand and signals an ongoing rebound in […]
