Inflation and rapidly spiking prices aren’t just a problem in the US. It’s gotten so bad in Europe that that perpetually dovish European Central Bank (ECB) has been forced to go hawkish.
But not really. Just hawkish for the ECB.
Last week the ECB raised interest rates for the first time since 2011. The bank surprised markets, raising all of its policy rates by 50 basis points. That pushes its deposit rate all the way to — zero.
On July 1, a Virginia law extending and expanding a sales tax exemption on the sale of gold and silver bullion and coins went into effect. Ending the sales tax will relieve some of the tax burdens on investors, and take a step toward treating precious metal bullions as money instead of a commodity.
The slowdown in money creation could be signaling a recession.
The growth in the money supply has dropped precipitously over the last several months. As measured by M2, the money supply expanded by 6.6% year on year. That was down from April’s growth rate of 8.21%. In May 2021, M2 grew by 14.30%. M2 growth peaked at a record 26.91% in February 2021.
Air is hissing out of the housing bubble faster and faster every week.
Pending sales plunged in June and the inventory of homes on the market jumped as mortgage rates continue to rapidly rise.
Silver has dipped below $20 an ounce for the first time in two years. But given silver’s fundamentals, the current economic dynamics, and the trajectory of the Fed, silver appears very oversold.
For the next week, you can take advantage of the lowest silver spot price in years, and we’ll even sweeten the deal with free silver with qualifying orders.
There are three good reasons you should take advantage of silver on sale.
American consumers added to their record levels of debt in May as they continue to struggle to make ends meet in this inflationary environment.
Americans increased their debt load by $22.35 billion in May, according to the latest data from the Federal Reserve. That represents a 5.9% annual increase.