A Kentucky man hit the jackpot when he uncovered money in a cornfield.
The unidentified man unearthed 741 $1 coins along with a number of $10 and $20 pieces. There were more than 800 coins in the hoard with a face value of well over $1,000.
Oh, and the coins were gold and silver, so they are worth many times more than that today.
You had better get ready for the world of central bank digital currencies (CBDCs) because they are coming. And they are coming fast.
According to a recent survey by the Bank for International Settlements (BIS), as many as 24 CBDCs could be in circulation by 2030.
As the saying goes, there’s no place like home. And more and more countries think that’s the case when it comes to their gold. In this episode of the Friday Gold Wrap, host Mike Maharrey talks about why many central banks and sovereign wealth funds are bringing their gold home. He also talks about gold’s performance through the first half of 2023 and the June CPI data.
Despite a lackluster June, the price of gold rose 5.4% through the first six months of 2023 and was the second-best performing asset class behind only developed market stocks.
Despite doing nothing at the June meeting, Federal Reserve officials continue to talk tough about fighting inflation. The anticipation of another rate hike created headwinds for both stocks and gold this week. But Friday Gold Wrap host Mike Maharrey thinks something is amiss. In this episode, he talks about the disconnect between the central bankers’ rhetoric and their actions. Are they clueless or running scared? This week, he also talks about another big jump in the national debt and the latest on central bank gold buying.
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 talks about some actual economic news that most people just ignored.
There is the mainstream and market perception of what going on in the economy and financial system. And then there’s the underlying economic reality. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about the growing divergence between the two in the context of the June Federal Reserve meeting and the latest CPI data.
How much is the inflation tax costing you?
Based on calculations by public finance economist EJ Antoni, around $7,200 since January 2021 for the average family.
There are a few things that Friday Gold Wrap host Mike Maharrey writes about that don’t seem to garner much interest. In this show, Mike is going to talk about two of those things, why they matter, and why you should care. He also talks about the recent drop in the price of gold and what the markets are getting wrong.
The Federal Reserve raised rates yet again during its May FOMC meeting. Now everybody is trying to decipher the messaging coming out of the Fed to figure out what’s next. But what if the words Powell and Company are saying don’t really matter? In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about the latest moves by the Fed and suggests we should focus on the realities over the rhetoric.
