Thursday, February 27, 2020

Congressman Alex Mooney’s Bill Defines the Dollar as a Unit of Gold

by Mish Shedlock, The Maven:

This story came out in March, but I just now caught it. I salute Mooney for wording the legislation correctly.

Focus on Fundamentals: Demand for Gold and Silver in Tech Industries Expected to Grow

by Peter Schiff, Schiff Gold:

Technology will play a key role in driving precious metals demand in the coming years according to reports released this week by the World Gold Council and the Silver Institute.

The World Gold Council Gold Investor report for July focused on the growing use of gold in technology. According to the report, over the past decade, the tech sector accounted for more than 380 tons of gold demand annually. That’s 13% ahead of central bank purchases during the same time period. The demand for the yellow metal for tech applications logged its sixth consecutive quarter of gains in Q1 2018.

John Rubino – Sell the Car, Sell the Stock

by Kerry Lutz, Financial Survival Network:

John Rubino is back… Things are getting challenging at Tesla Motors. However, they did manage to produce over 5k cars last week, with the help of a temporary tent-covered production line. Can they keep it up? Does anyone really care anymore? Elan Musk has 9 lives, let’s see what happens next. What is prime real estate? John tells you what he thinks and beware of REIT’s. And finally, there’s trouble brewing in DC, but when hasn’t there been? Trump may wind up appointing 4-5 Supreme Court Justices. Will it lead to revolution or civil war?

Click HERE to Listen

Size Matters: Here’s The Top 10 Gold Holders By Nation And The Weight Of Their Stacks

by Frank Holmes, via Silver Doctors:

With all the “reset” talk lately, and with that “he who owns the gold makes the rules” thing, it may be good to know who has the biggest stacks…

Beginning in 2010, central banks around the world turned from being net sellers of gold to net buyers of gold. Last year official sector activity rose 36 percent to 366 tonnes – a substantial increase from 2016.

Why The Coming Oil Crunch Will Shock The World

by Chris Martenson, Peak Prosperity:

And why we need a new energy strategy — fast

My years working in corporate strategy taught me that every strategic framework, no matter how complex (some I worked on were hundreds of pages long), boils down to just two things:

  1. Where do you want to go? (Vision)
  2. How are you going to get there? (Resources)

Vision is the easier one by far. You just dream up a grand idea about where you want the company to be at some target future date, Yes, there’s work in assuring that everybody on the management team truly shares and believes in the vision, but that’s a pretty stratightforward sales job for the CEO.

We Are All Hostages of Corporate Profits

by Charles Hugh Smith, Of Two Minds:

We’re in the endgame of financialization and globalization, and it won’t be pretty for all the hostages of corporate profits.

Though you won’t read about it in the mainstream corporate media, the nation is now hostage to outsized corporate profits.

The economy and society at large are now totally dependent on soaring corporate profits and the speculative bubbles they fuel, and this renders us all hostages: “Make a move to limit corporate profits or speculative bubbles, and your pension fund gets a bullet in the head.”

Not just pension funds, of course; tax revenues will also be taken out and shotas most of the state and federal income taxes are paid by high-earners and those skimming capital gains from stock options and stock-based compensation packages.

China and the Restoration of Capitalism. The Largest Cheap Labor Factory in the World

by Prof Michel Chossudovsky, Global Research:

This article (edits and updates in 2018) focusses on China’s capitalist system under a “Communist” label.

Wages are exceedingly low, productivity is high. These are the social realities of commodities “Made in China”, marketed Worldwide.

China is an advanced capitalist economy integrated into the World market.  Wages for non-skilled labor in Chinese factories are as low as 100$ a month, a small fraction of the minimum wage in Western countries.   

The factory price of a commodity produced in China is of the order of 10% of the retail price in Western countries. Consequently, the largest share of the earnings of  China’s cheap labor economy accrues to distributors and retailers in Western countries. 

Banks Squeal as Spain’s New Government Threatens to Do Unthinkable: Raise Taxes on Their Profits

by Wolf Richter, Wolf Street:

Payback time for the financial sector that was bailed out by taxpayers, the new government thinks. 

It’s payback time for Spain’s financial sector. At least that’s what the country’s new center-left coalition government appears to believe. After receiving the biggest financial bailout in the country’s history — over €60 billion in direct state aid, and as much as €371 if you include all the recapitalisations, the mass buyouts of impaired assets, the deferred tax credits and government guarantees — it’s time for the banks, which have been racking up profits of late to return the favor.