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Tag Archives: Key Gold Headlines

Wisdom From Grandpa: Buy Gold

The mainstream generally treats the gold standard as a bygone relic of a primitive past — something grandpa might remember fondly along with 5 cent eggs and walking to school uphill both ways. But in this modern era of wild monetary policy and unprecedented money printing, even some in the mainstream are starting to think grampa may have been a little wiser than we thought.A recent article in extolled the virtues of the gold standard and advises “make a strategic allocation to gold.”It’s...

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The Economy Isn’t Just Spending Money; We Need Savings

Over the last several decades, the Federal Reserve and the US government have almost exclusively directed their policies toward “stimulating” spending. Artificially low interest rates incentivize borrowing and discourage savings.But spending money isn’t the only thing that makes the economy go around. Savings are crucial and the lack of saving in America has hollowed out the US economy.Modern economists trained in Keynesian thinking eschew savings. As economist Frank Shostak explains in an...

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Gold Is Security in a Dollar Crisis

Last week, we reported Yale economist Stephen Roach’s warning that “the era of the US dollar’s ‘exorbitant privilege’ as the world’s primary reserve currency is coming to an end.”Roach isn’t the only person in the mainstream sounding the alarm about the dollar’s demise.  In a note published last week, Guggenheim Investments Chief Investment Officer Scott Minerd said that while “there are no signs the world is questioning the value of the US dollar” right now, it’s clear that the greenback...

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A Big Oops in the Government Unemployment Numbers

When the May jobs report came out with 2.5 million jobs added a drop in unemployment to 13.3%, I told several friends the numbers seemed implausible.It appears I might have been right.The Department of Labor’s Bureau of Labor Statistics survey takers mistakenly misclassified about 4.9 million people as employed, although they were unemployed. Shockingly – and by shockingly I mean as you would expect – this little oops was not widely reported. But it actually was mentioned at the very end...

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Fed Ups Stimulus Ante, Now Buying Individual Corporate Bonds

Just when you thought the Federal Reserve couldn’t possibly stimulate any more, it launches a new stimulus program.On Monday, the central bank announced it would begin buying individual corporate bonds through its so-called Secondary Market Corporate Credit Facility (SMCCF).This is yet another unprecedented move even as the central bank makes “unprecedented” mundane.The Fed put its feet in the corporate bond market back in May when it started purchasing exchange-traded funds (ETFs) holding...

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Gold ETF Inflows Break Yearly Record in Just Five Months

Holdings in gold-backed ETFs charted another all-time high in May as inflows in dollar-terms have already set a yearly record just five months into 2020.Globally, funds added another 154 tons of gold to their holdings boosting the total to a record 3,510 tons, according to the latest data released by the World Gold Council. Over the past 12 months, assets in global gold-backed ETFs have nearly doubledIn dollar-terms, year-to-date inflows of $33.7 billion have already exceeded the previous...

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Another Month Another Trillion Added to National Debt

On Tuesday, the national debt pushed above $26 trillion.Just 35 days ago, the debt eclipsed $25 trillion. And 28 days before that, the national debt stood at a mere $24 million.Meanwhile, the federal government just set a record for the biggest budget deficit in any fiscal year — with four months left to go.May’s budget shortfall came in at a staggering $398.8 billion, pushing the fiscal 2020 deficit to $1.88 trillion, according to the latest monthly US Treasury Department statement.The...

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Gold Is a Lifeline During India Credit Crunch

Gold is serving as a lifeline for beleaguered Indians in the midst of severe credit crunch.The government response to the coronavirus pandemic has ravaged the Indian economy. As a result, many banks are reluctant to extend credit due to fear of defaults. In this tight lending environment, many Indians are using their stashes of gold to secure loans.For instance, Umesh Patil used 40 grams of gold toe raise 130,000 rupees ($1,723.11) in order to purchase seed and supplies to plant his next...

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Yale Economist Warns of Dollar Crash

Peter Schiff has been warning that that real crash will be a dollar crash. Now, some people in the mainstream are starting to sound that alarm as well.Even before the coronavirus pandemic, Peter was warning about the dollar’s demise. During an interview on last September, he warned that America’s “fiscal profligacy” was going to sink the dollar.What has enabled this over the years has been the world’s willingness to hold US dollars as the primary reserve currency and to continue to loan...

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Central Banks Added Nearly 32 Tons of Gold to Reserves in April

The pace has slowed somewhat this year, but central banks are still buying gold, and the World Gold Council expects central bank demand to continue over the next 12 months.In April, central banks globally added another net 31.6 tons of gold to their reserves, despite Russia following through on its commitment to suspend its buying program.According to the World Gold Council, the lower rate of purchases was entirely expected given the strength of central bank buying both in 2018 and 2019.On...

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