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We got the May Consumer Price (CPI) Index data last week. Once again, it came in hotter than expected. In this article, we break down the data and show that this surge of inflation is anything by transitory. In the first place, it’s important to remember that the CPI is reverse-engineered to mask inflation. It […]
High inflation is the worst-kept secret out there, but the government, central bankers and financial media have all downplayed the threat. The folks at the Federal Reserve keep telling us that rising prices are “transitory,” the product of a robust and fast-moving post-pandemic economic recovery. One of the reasons often given for rising prices is […]
Central banks added gold to their reserves in record amounts in 2018 and 2019, but buying slowed last year with the onset of the COVID-19 pandemic. The slower pace has continued into 2021, but buying is ahead of last year as many countries continue to load up on the yellow metal. The World Gold Council […]
Average Americans are worried about inflation, but the mainstream financial media doesn’t think they should be. Even though inflation is a hot topic, the conversation seems to primarily center around the notion that inflation is overblown. In this article, we explain why this mainstream media spin downplaying inflation is dead wrong.
In 2020, gold-backed ETFs recorded record net inflows of gold. Funds added nearly 231 more tons in 2020 than they did during the previous record year (2009/646 tons). But with declines in the price of gold and investors pivoting to riskier investments as economies improve, we’ve seen net outflows of gold from ETFs over the […]
Last week, Russia announced plans to completely eliminate dollars and dollar-denominated assets from its sovereign wealth fund. Is this another sign of erosion of dollar dominance? The news from Russia dovetails with a warning by billionaire fund manager Stanley Druckenmiller that the dollar could cease to be the world’s reserve currency within the next 15 […]
Gold and silver whipsawed to end last week. Gold fell over $30 on Thursday when weekly jobless claims and the ADP private payroll numbers came in better than expected. But the yellow metal gained back much of the loss on Friday after a less than overwhelming Labor Department May jobs report. In this article, we […]
Central banks globally added another net 69.4 tons of gold to their reserves in April, according to preliminary numbers compiled by the World Gold Council. Gold-buying by central banks slowed last year from the record pace we saw in 2018 and 2019. That trend has continued into 2021, but buying is ahead of last year’s […]
Last year, China launched a digital yuan pilot program. The Chinese government-backed digital currency got a boost when the country’s biggest online retailer announced the first virtual platform to accept the Chinese digital currency. China isn’t the only government exploring the possibility of digital money. Sweden has developed a digital currency of its own. The […]
President Joe Biden released his 2022 budget this week. The $6 trillion spending plan offers a glimpse into Biden’s long-term fiscal strategy – borrow and spend to infinity and beyond. The Biden budget would take the US to its highest sustained spending levels since World War II. And here you thought the pandemic emergency was […]
