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The Arkansas Senate has passed a bill that would exempt gold and silver bullion and coins from sales tax. This would not only relieve some of the tax burdens on investors in the state; it would also take a small step toward treating gold and silver as money instead of as commodities.
In one of the biggest central bank gold buys in decades, Hungary tripled its gold reserves last month. The National Bank of Hungary (Magyar Nemzeti Bank, MNB) bought 63 tons of gold, increasing its gold holdings to 94.5 tons, a record high for that country.
The US government ran a record $1.7 trillion deficit through the first half of fiscal 2021. That’s a staggering budget shortfall, but only a symptom of the real problem – excessive government spending. We’re told this will “stimulate” the economy. But in the long run, it does no such thing.
China has opened the door to billions of dollars in gold imports. Reuters cites five sources indicating that Beijing has greenlighted the import of 150 tons of gold valued at around $8.5 billion at current prices. The report notes that China’s sudden appetite for gold could potentially “support global prices.”
Through the first six months of fiscal 2021, the US government ran a record $1.7 trillion budget deficit. And there is no end in sight to the borrowing and spending. Just last month, the national debt eclipsed $28 trillion for the first time. But it’s even worse than that. A lot worse.
What do you get when you hand Americans big fat stimulus checks after decades of offshoring the country’s manufacturing economy? Massive trade deficits.
The US government ran a budget deficit of $659.59 billion in March, pushing the budget shortfall to a record $1.7 trillion through the first half of fiscal 2021, according to the Treasury Department’s Monthy Treasury Statement. The March budget deficit ranks as the third biggest monthly shortfall in US history, driving Uncle Sam the biggest […]
Silver enjoyed a brief moment in the limelight earlier this year when the so-called “Reddit Raiders” turned their attention to the white metal. The spotlight has dimmed somewhat, but there are still plenty of reasons to be bullish on silver. Our fully revised and updated The Powerful Case for Silver report provides an in-depth overview […]
Apparently, those stimulus checks weren’t enough. American consumers pulled out their credit cards and ran up big balances in February. According to the latest numbers from the Federal Reserve, consumer debt unexpectedly spiked in February, growing at an annual rate of 7.9%. Economists had expected a small uptick in consumer debt after a flat January, […]
Despite a significant selloff by Turkey, central banks globally added a net 8.8 tons of gold to their reserves in February, according to the latest data compiled by the World Gold Council. Gold-buying by central banks slowed last year from the record pace we saw in 2018 and 2019, and that trend has continued into […]
