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The US government is rolling in dough! US tax receipts have surged this year. Through August, the US Treasury had collected over $4.4 trillion in revenue for fiscal 2022 with one month left to go. That was already 10% higher than receipts in 2021. The US government took in $303.73 billion in August alone. That […]
Although gold has been one of the best-performing assets in 2022, it has faced significant headwinds due to rising interest rates and a strong dollar. Members of a panel discussion during the London Bullion Market Association’s (LBMA) annual precious metals conference agreed that gold and silver prices may still face headwinds in the near term […]
Social Security recipients will be getting a big raise in 2023. That’s good news if you’re receiving benefits from the program, but not so great if you’re hoping inflation will abate any time soon. The Social Security Administration recently announced an 8.7% cost of living adjustment (COLA) for next year. That goes on top of […]
Gold is migrating from the West to the East. As Bloomberg described it, many western investors – particularly at the institutional level – are dumping bullion. Meanwhile, Asian buyers are taking advantage of lower prices to snap up less expensive jewelry, coins, and bars.
Producer price data for September was bad news for people looking for relief from rising prices. The Producer Price Index (PPI) rose by 0.4%, doubling the 0.2% projected increase, according to data released by the Bureau of Labor Statistics (BLS).
A bill introduced in the US House would put the American financial system back on a gold standard. Rep. Alex Mooney (R-WV) introduced HR9157. Titled the Gold Standard Restoration Act, the legislation would peg the dollar to a fixed weight of gold.
In a series of tweets, Rich Dad Poor Dad author Robert Kiyosaki said now is a great time to buy silver. Kiyosaki predicted that the dollar will ultimately crash when the Fed pivots and surrenders to inflation.
Credit card debt continues to spiral higher as consumers struggle with rising prices and depleted savings. In August, revolving credit increased by a staggering 18.1% as total consumer debt surged to a record $4.68 trillion, according to the latest consumer credit data from the Federal Reserve.
Gold demand in India was healthy in September and the outlook is strong moving forward. Healthy retail demand in September drove the local price briefly into a premium of $2 to $3 per ounce early in the month. It was the first time gold had been in premium since May.
“I can scarcely contemplate a greater calamity that could befall this country than to be loaded with a debt exceeding their ability to ever discharge.” – Brutus Well, here we are. On Monday, the US national debt eclipsed $31 trillion for the first time in history.
