Central bank gold buying continues to sizzle.
Central banks globally added a net 77 tons to their reserves in August, according to the latest data compiled by the World Gold Council.
You can hold physical gold and silver in an IRA, and there are certain advantages to doing so.
Historically, IRAs with an allocation to precious metals perform better than IRAs with no exposure to silver or gold. There are also tax benefits when contributing to an IRA.
We keep hearing about a “soft landing.” According to government officials, central bankers, and mainstream financial media pundits, the US economy has dodged a recession.
So why are recession warning signs still flashing?
Banks are more vulnerable to the housing market now than they were in 2007.
Most people in the mainstream will scoff at that statement. They’ll tell you that the situation is very different today. After all, we don’t have a big problem in the subprime mortgage market. We’re not seeing a big spike in defaults. That’s true. The problem is different this time. And it’s actually worse.
Yet another country wants gold.
On Monday (Sept. 25), the Bank of Tanzania (BoT) announced it is buying gold from domestic sources to establish its own reserves.
Americans are worried about a looming credit crunch. That’s a big problem for an economy that runs on credit cards.
One of the reasons for economic optimism you’ll hear bandied about out there in the mainstream is “the American consumer is strong” and consumer spending is “holding up” despite price inflation. But nobody seems to ask an important question: how have Americans been able to continue spending?
Last week, a federal grand jury indicted Democrat Senator Bob Menendez and his wife Nadine Arslanian Menendez on bribery charges. According to the indictment, the senator and his wife took bribes, including 13 gold bars, from three New Jersey businessmen with Egyptian ties.
With price inflation running rampant in Japan, Japanese households are rushing to buy gold.
The sudden surge in demand, along with the devaluation of the yen, has driven the price of gold to record highs in yen terms.
The Federal Reserve continues to bail out US banks as the financial crisis that kicked off last March continues to smolder behind the walls.
Banks borrowed an additional $2.2 billion from the Federal Reserve’s bank bailout program in August. This was on top of the $3.7 billion they borrowed in July.
Do you hear that? It’s a ticking time bomb.
Last Friday, the national debt quietly blew above $33 trillion.
As of September 15, the outstanding federal debt stood at a cool $33,044,858,730,468.04.
