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According to the mainstream narrative, the US economy is quickly recovering from the downturn caused by lockdowns in response to COVID-19. And while the downturn was sharp and painful, it really didn’t cause any long-term economic damage. Good times are ahead! After all, just look at the booming GDP numbers. And therein lies a problem. […]
While gold prices have languished over the last few months, smart investors have taken advantage of the low prices and loaded up on physical gold. For Q1, the US Mint reported its highest quarterly American Gold Eagle sales in more than 20 years.
Last week, we reported that the Russian National Wealth fund was dumping dollars and turning toward gold. The Russians have engaged in an intentional de-dollarization policy for several years. But it appears this could be part of a broader global move away from the greenback. The dollar’s share of global currency reserves dropped significantly in […]
A bill introduced in Congress would repeal capital gains taxes on gold and silver. Alex Mooney (R-WV) introduced HR2284. Titled the Monetary Metals Tax Neutrality Act, the legislation would eliminate capital gains, losses and all other federal income calculations on gold, silver, platinum, and palladium bars and coins.
US money supply growth hit another all-time high in February as the Federal Reserve continues to churn out dollars and inject them into the economy. As measured by the True Money Supply Measure (TMS), the money supply grew by 39.1% year-on-year. That was up slightly from January’s record growth of 38.7%.
We have been saying that given the extraordinary level of money printing the Fed has done since the beginning of the pandemic, a wave of price inflation is coming down the pike – perhaps even hyperinflation. But many will be quick to remind us that we raised the warning flag about inflation when the Fed […]
The Russian Finance Ministry has given the green light for the Russian National Wealth fund to diversify and invest in gold and other precious metals. According to a report by RT, this is part of a broader move to de-dollarize the wealth fund.
The bounceback in the Indian gold market continued last month. Indian gold imports hit a 21-month high in February and there was robust retail demand. This comes on the heels of a 72% year-on-year increase in gold imports in January.
Despite the “improving economy,” subprime mortgage delinquencies remain at record high levels. And the full extent of the problem is masked by forbearance programs. The delinquency rate on FHA mortgages spiked to 17.5% in February. That was up from 17.0% in January and equals the all-time record set in September and November of 2020, according […]
Congress recently passed coronavirus stimulus 3.0, adding another $1.9 trillion in federal spending to the already massive fiscal 2021 budget deficit. That brings total spending related to COVID-19 to somewhere in the neighborhood of $5 trillion. Meanwhile, the national debt has skyrocketed past $28 trillion. The US government has added $5 trillion to the debt […]
