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Since the end of the fake debt ceiling fight on June 2, the Treasury has borrowed an additional $700 billion pushing the national debt over $32 trillion. Looking at the interest rates on this new debt, it becomes clear that the US government has a big problem.
There has been a steady migration of gold from West to East over the last three decades. When the World Gold Council published its first Gold Demand Trends report 30 years ago, Asian demand made up 45% of the world’s total. Today, the Asian share of global gold demand is approaching 60%.
With a hawkish Fed and dollar strength, gold has dropped below $1,950 an ounce, but the technicals appear to indicate that we are at or near the end of a correction. The technical analysis last month was published when gold was around $1975 and concluded: The indicators are now mostly neutral with a bearish lean. There are […]
The national debt recently blew past $32 trillion. As we approach America’s birthday on July 4, it might be a good time to consider what the founding fathers would have thought about this massive indebtedness.
We tend to focus a lot on the Federal Reserve’s interest rate policy, while the central bank’s balance sheet stays in the background. But the balance sheet arguably has more impact on the economy over the long run. Since the Fed began hiking interest rates in March 2022, it has also shrunk the balance sheet. […]
June is wrapping up strong for gold at the COMEX with 20,101 contracts being delivered. There are still 583 contracts open that have not been delivered, but the majority of the contracts have been completed. Meanwhile, were seeing more and more stress on silver and platinum.
Fed Chair Jerome Powell went to Capitol Hill this week and talked. His open-mouth operations dominated the financial news and drove gold lower. In this episode of the Friday Gold Wrap, host Mike Maharrey digs into Powell’s comments, reads between the lines, and points out a couple of things Powell got completely wrong. He also […]
The average person doesn’t understand gold. Or even money for that matter.
Federal Reserve Chairman Jerome Powell testified before the House Financial Services Committee on Wednesday (June 21). The Fed chief engaged in some more open-mouth operations, trying to guide monetary policy with words instead of actions. To understand a few things he said, you have to read between the lines. Oh, and he also got at […]
The bleed of metal from COMEX vaults has resumed and silver inventories have hit record lows with 28 paper claims for each ounce of physical silver. This analysis focuses on gold and silver within the Comex/CME futures exchange. See the article What is the Comex? for more detail. The charts and tables below specifically analyze the physical […]
