Friday, May 23, 2025

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Chinese Gold Imports Surge as Demand Continues to Grow

(Mike Maharrey, Money Metals News Service) Chinese gold imports hit an 11-month high in April as prices continued to surge to record levels. According to the latest customs data reported by Bloomberg, gold imports reached 127.5 tonnes, a 73 percent increase from the prior month. This comes in the wake of the People's...

Foreigner Extradited to America and Sentenced for USAID Fraud in Pakistan

(Ken Silva, Headline USA) The Justice Department announced Monday that Stephen Paul Edmund Sutton, 53, a United Kingdom citizen, pleaded guilty and was sentenced for his participation in a fraud scheme. Sutton is presumably already back on a plane to the UK. He was extradited to the U.S. and sentenced...

Arkansas and Other States Rally Behind Israel with Record-Breaking Bond Purchases

(José Niño, Headline USA) The Arkansas state government has thrown its weight behind Israel, investing millions and reinforcing a growing trend among U.S. states. Gov. Sarah Huckabee Sanders, R-AR, announced a plan to invest up to $50 million in Israel Bonds in the middle of May. According to the Arkansas...

Biotechnology Company Regeneron Buying 23andMe for $256 Million

(Headline USA) Biotechnology company Regeneron Pharmaceuticals is buying 23andMe for $256 million, two months after the genetic testing company filed for Chapter 11 bankruptcy protection. In March 23andMe said that it was looking to sell “substantially all of its assets” through a court-approved reorganization plan. Its co-founder and CEO Anne...

Gold Demand Surges: A Global Breakdown with the World Gold Council

(Money Metals News Service) Gold demand soared in the first quarter of 2025, hitting its highest Q1 level since 2016. To explain what’s driving the trend, Mike Maharrey spoke with Juan Carlos Artigas, global head of research at the World Gold Council. Artigas offered key insights from their latest Gold Demand...

Founder of Ukraine-Linked USAID Contractor Busted for Massive Bribery Scheme

(Ken Silva, Headline USA) The founder of a government contracting firm has pled guilty to bribing a USAID officer to receive some $500 million in contracts. The USAID officer he bribed pled guilty, too. The government contractor, Walter Barnes, is the founder of PM Consulting Group, which now goes by...

What Is the Current Inflation Situation?

(Mike Maharrey, Money Metals News Service) What is the current inflation situation? If you just go by the CPI, things are looking pretty good. We got a better-than-expected “inflation” report for the third straight month. Prices rose 2.3 percent on an annual basis in April, the lowest rate since February...

Newsom Calls for Ending New Medi-Cal Enrollments for Adult Illegal Immigrants

(Dave Mason, The Center Square) California Gov. Gavin Newsom on Wednesday called for an end to new enrollments of adult illegal immigrants in Medi-Cal to save more than $5 billion. The proposal by the governor, who's viewed as a potential Democratic presidential candidate in 2028, is a reversal of his...

GOP Budget Plan Limits SNAP Work Requirement Waivers, Tells States to Help Pay

(Thérèse Boudreaux, The Center Square) Republican lawmakers are prepared to defend their budget plan that shifts some of the costs of the Supplemental Nutrition Assistance Program to the states and better enforces SNAP work requirements. Under the Republican budget reconciliation framework, the House Committee on Agriculture must find savings of...

UnitedHealthGroup’s Shares Plummet More than 38% Since CEO’s Assassination

(Headline USA) UnitedHealth CEO Andrew Witty is stepping down for personal reasons and the nation's largest health insurer suspended its full-year financial outlook due to higher-than-expected medical costs. Chairman Stephen Hemsley will become CEO, effective immediately, the Minnesota company said. Hemsley was UnitedHealth Group CEO from 2006 to 2017. He will...

Consumer Borrowing Remained Sluggish in March Hinting Economic Stress

(Mike Maharrey, Money Metals News Service) After crashing in February, consumer borrowing remained tepid in March, a worrying sign for an economy that runs on credit cards. Borrowing has been slowing for the past several months, raising the prospect that Americans may finally be edging close to their credit limits. Total...

U.S. and China Reach Trade Agreement

(Alan Wooten, The Center Square) Market implications are expected Monday morning worldwide following Sunday’s announcement of a trade agreement between the United States and China. No details were announced between countries doing an estimated $600 billion in trade annually. The two superpower countries have sparred since President Donald Trump’s January...
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