Saturday, May 4, 2024

Dollar Weakness May Send Gold Surging to This Staggering Figure

from Birch Gold Group:

This week, Your News to Know rounds up the latest top stories involving precious metals and the overall economy. Stories include: Gold forecasts ahead of the election, Powell feints as U.S. economy crumbles, and Kuwait bolsters its place on the list of gold consumers.

Experts forecast a shaky dollar will send gold to $2,500 next year

For all the bearishness we’ve seen this year regarding gold in the headlines, it seems gloomy forecasts for a 12-month period are hard to come by. British research firm Capital Economics, for example, expects gold to end next year around $2,100, with rate cuts as the primary driver.

Unrealized Losses at US Banks Exploded in Q3

by Peter Schiff, Schiff Gold:

Unrealized losses on securities held by US banks exploded by 22% in the third quarter.

Of course, unrealized losses don’t really matter — until they do.

This is yet more evidence that the financial crisis that kicked off last March continues to bubble under the surface.

Unrealized losses, primarily on US Treasuries and mortgage-backed securities rose by $126 billion in Q3 and now total $684 billion, according to the FDIC’s quarterly bank data release.

The dollar’s international decline is becoming really obvious

by Simon Black, Sovereign Man:

On the morning of February 23, 1944, US President Franklin Roosevelt sent an important telegram to two of his key allies overseas– British Prime Minister Winston Churchill, and Joseph Stalin of the Soviet Union.

World War II was still raging. And while the allies had seized the upper hand, peace was more than a year away.

Surprisingly, though, Roosevelt didn’t write to his allies to discuss the war. He was already thinking about what the world would look like AFTER the war was over… and in the telegram, Roosevelt invited them to participate in a conference on “postwar economic collaboration”.

Too Big To Fail Banks Now Connected To Jeffrey Epstein Child Sex Trafficking

from Reese Report:

TRUTH LIVES on at https://sgtreport.tv/

GoldSeek Radio Nugget — Bill Murphy

from GoldSeek Radio:

TRUTH LIVES on at https://sgtreport.tv/

Zimbabwe is launching gold-backed digital tokens: What you need to know

by Myra P. Saefong, Market Watch:

Zimbabwe is looking to gold to “expand value-preserving instruments,” launching a gold-backed digital currency last week as the nation suffers from hyperinflation and its currency continues to diminish in value.

The move is an “interesting experiment to see if locals will warm up to a more stable currency and trust the nation’s central bank in its endeavors,” Peter Spina, president of GoldSeek.com, told MarketWatch.

The Reserve Bank of Zimbabwe said it was issuing the gold-backed digital tokens in a move to “expand value-preserving instruments” available in the nation’s economy, as well as “enhance the divisibility of the investment instruments and widen their access and usage by the public.”

2023: The Dawn of the Silver Boom

by Chen Lin, Silver Seek:

2023 saw another year of the huge supply-demand deficit in silver, despite heavy investment selling. The most significant demand increase came from solar panels. In 2021, the Silver Institute and Metal Focus group were looking at PV (solar panel)  using 110 million oz, growing at 12-13% per year. But in November 2023, the Silver Institute and Metal Focus group revised the 2023 estimate to about 200 million oz! In other words, in the past two years, over 100 million oz of silver was taken by the PV industry “unexpectedly”!

NOW – Trump on cryptocurrencies: “There has been a lot of use of that and I’m not sure that I would want to take it away at this point.”

Your Credit Card Company Might Be Bankrolling Left-Wing Activism

by Robert Schmad, The Daily Caller:

Charitable foundations funded by credit card companies and managed by their executives are pouring millions of dollars into liberal advocacy organizations, tax filings show.

The American Express Foundation and the Visa Foundation, philanthropic arms of two of the largest credit card companies in the world, gave grants to several major left-wing groups between 2019 and 2021. Executives from Visa and American Express sit on the boards of their respective foundations, both of which have taken millions from the corporations that established them.

GoldSeek Radio Nugget — David Morgan

from GoldSeek Radio:

TRUTH LIVES on at https://sgtreport.tv/

Many Americans Are Unable to Afford Food, Even as Unemployment Remains Low

from Sputnik News:

Despite being the wealthiest country in the world by net worth (according to 2022 data), the United States continues to struggle with hunger.
A report from the US Department of Agriculture (USDA) found more than 44 million Americans facing hunger last year, including 1 in 5 children. Programs which provide food to those in need are crippling under demand, as prices at the grocery store don’t appear to be dropping anytime soon.

House Committee Passes Anti-CBDC Bill

by Steve Bonta, The New American:

The House Financial Services Committee has been busy of late. On Wednesday, September 20, no fewer than 11 separate pieces of legislation were passed out of committee, a number of which have very positive ramifications for the cause of liberty.

Perhaps the most important is H.R. 5403, the “CBDC Anti-Surveillance State Act,” which would ban the issuance of central bank digital currencies, or CBDCs, by the Federal Reserve. The bill, offered by Majority Whip Tom Emmer (R-Minn.), “prevents the Federal Reserve from issuing a CBDC directly or indirectly to individuals or maintaining accounts on behalf of individuals” and also “prohibits the Secretary of the Treasury from directing the Board of Governors of the Federal Reserve System to issue a CBDC and clarifies that a CBDC can only be issued pursuant to congressional authorization,” according to a Financial Service Committee press release.

Yet More Silver Departs $SLV on Friday

by Ted Butler, Silver Seek:

Gold’s quiet rally that began at the start of Globex trading in New York on Thursday evening was turned lower around 8:40 a.m. China Standard Time on their Friday morning — and its low tick was set at exactly 11 a.m. CST. It then wandered quietly higher until at or minutes before the 10:30 a.m. morning gold fix in London — and was sold a tiny bit lower from there until the jobs number hit the tape. The gold price went ‘no ask’ — and ‘da boyz’ appeared in seconds — and had the price back to its pre-8:30 a.m. price by 9:15 a.m. It crawled quietly higher from there until it took off anew starting a few minutes before 12 o’clock noon — and the commercial traders of whatever stripe reappeared — engineering it brutally lower until around 2:15 p.m. in after-hours trading in New York. Its ensuing rally ran into ‘something’ about fifteen minutes later– and from that juncture it crept very quietly higher until the market closed at 5:00 p.m. EST.

GoldSeek Radio Nugget — Bill Murphy:

from GoldSeek Radio Nugget:

TRUTH LIVES on at https://sgtreport.tv/