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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.
Who needs gold? Ukraine, apparently. An official at the central bank claims it has sold billions in gold since the Russians invaded Ukraine back in February.
If you’re hoping red-hot inflation will cool down significantly in the coming months, you’re probably going to be disappointed if producer prices provide any indication.
The federal government ran an $88.8 billion budget deficit in June. That was up nearly $22 billion from the previous month, according to the latest Monthly Treasury Statement. And this is supposed to be good news.
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 […]
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 […]
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.
The silver-gold ratio hit a two-year high this week, indicating that silver is significantly undervalued compared to gold.
Central banks globally added another net 35 tons of gold to reserves in May, according to data compiled by the World Gold Council. This follows on the heels of a net 19.4-ton increase in gold holdings in April and an 84-ton surge in gold reserve through Q1.
