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Central banks globally added another net 50 tons of gold to their reserves in November, driven in part by the first official purchase by China since 2019.
A bill introduced in the Missouri Senate for the 2023 legislative session would take important steps toward treating gold and silver as money instead of as commodities and would set the stage for currency competition in the Show-Me State.
One of the benefits of owning physical gold and silver is there is no counterparty risk.
Silver demand in 2022 is expected to chart an all-time high. This is one of several silver-related stories in the latest edition of Silver News published by the Silver Institute.
Peter Schiff recently said he is very bullish on gold in the year ahead. Obviously, I’ve been bullish for a while. But I’m even more bullish now to the extent that’s possible, based on what’s been happening.” Peter is not alone. Doug Casey also thinks 2023 will be “the year for gold.”
Since 2008, we have been in an era of unprecedented money printing and interest rate suppression. Now the cost of all of that easy money is coming due.
The Federal Reserve’s favorite inflation indicator came in slightly higher than expected for November. This is another indication that while price inflation appears to be easing some, the data indicates it is far from whipped.
The US housing bubble continues to lose air at a rapid rate. Existing home sales fell for the 10th straight month in November. This stretch of declining home sales is longer than the housing bust preceding the 2008 financial crisis.
President Joe Biden claims wages are rising faster than prices. It might be unfair to say he’s lying, but he’s certainly misrepresenting the facts. The fact is price inflation continues to eat away at your wages.
The US government ran a massive $248.5 billion deficit in November, according to the latest Monthly Treasury Statement. There was only one month in fiscal 2022 with a bigger budget shortfall. This is bad news for the Federal Reserve as it tries to raise interest rates and shrink its balance sheet to fight price inflation.
