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Wednesday, December 25, 2024

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Egyptians Turning to Silver to Hedge Against Inflation

(Mike Maharrey, Money Metals News Service) With gold prices skyrocketing in their local currency, Egyptians are turning to silver to protect their savings and wealth from skyrocketing price inflation. According to a Reuters report, surging prices and a weakening currency have driven the price of gold in Egyptian pounds to...

Biden DOJ Bullies Banks into Contributing to $122M ‘Redlining’ Fund

(Headline USA) The same sub-prime lending practices that resulted in the 2008 "great recession" are making a comeback courtesy of the woke Justice Department. With the inflationary Biden economy, Federal Reserve rate hikes and market shortages related to factors including the pandemic and illegal immigration, home-ownership has become increasingly prohibitive...

Central Bank Gold-Buying in 2023 Tops 1K Tons, Just Shy of 2022 Record

(Mike Maharrey, Money Metals News Service) Central banks gobbled up gold again in 2023. Central bank gold buying fell just 45 tons short of 2022’s multi-decade record. According to the World Gold Council, central banks net gold purchases totaled 1,037 tons. It was the second straight year central banks added...

Coke Hopes to Excite Younger Drinkers w/ New ‘Spiced’ Raspberry-Flavor

(Headline USA) From Flamin’ Hot Cheetos to Sweet Heat Starburst, America’s snacks are getting spicier. Now, Coca-Cola wants in on the trend. On Wednesday, the Atlanta beverage giant introduced Coca-Cola Spiced, the first new permanent offering to its North American portfolio in three years. Coca-Cola Spiced and Coca-Cola Spiced Zero...

What the Postponed Fed Pivot Means for Gold…

(Brien Lundin, Money Metals News Service) As we predicted, Jerome Powell threw a bucket of cold water on gold and the rest of the markets, and we’re now experiencing sell-offs as expectations reset. Gold – along with just about every other investment sector – continues to sell off in the...

A Banking Crisis Is Quietly Brewing

(Stefan Gleason, Money Metals News Service) The Federal Reserve’s most recent policy statement came with a curious omission. Fed officials removed language from previous statements that proclaimed “the U.S. banking system is sound and resilient.” That begs the question: Is the banking system no longer sound and resilient? The Fed initially...

Grant Program Under Fire for Discriminating against Non-Black Women

(Headline USA) A small venture capital firm faced tough questions from conservative judges Wednesday as it defended a grant program for black women-owned businesses in a lawsuit that has become emblematic of a growing legal backlash against corporate diversity programs. The Fearless Fund, which provides early stage funding for businesses...

Tax Relief Bill Heads to the Senate: Relief for Some, Welfare for Many?

(Gwendolyn Sims, Headline USA)  On Wednesday, the U.S. House of Representatives passed the Tax Relief for American Families and Workers Act of 2024. The bipartisan bill passed the House 357 to 70 to expand eligibility for the child tax credit for lower-income families. It adjusts payments for inflation for...

MAHARREY: In U.S. Banking System, Where There’s Fire There’s Smoke

(Mike Maharrey, Money Metals News Service) Where there’s fire, there’s smoke. And there is definitely smoke in the U.S. banking system. The mainstream consensus is that the Federal Reserve successfully raised interest rates, slayed the inflation monster, and did it without breaking anything in the economy. Most people seem convinced...

EBay to Pay $59M Settlement for Online Sales of Drug-Making Equipment

(Brett Rowland, The Center Square) EBay Inc. agreed Wednesday to pay $59 million and make changes to its compliance program as part of a settlement with the U.S. Department of Justice that it violated the federal law by selling thousands of pill presses and encapsulating machines through its website. The...

Microsoft Skirting U.S. Sanctions to Do Business w/ CCP Firms

(Ken Silva, Headline USA) The American Conservative revealed Monday that Microsoft owns 22% of a Chinese firm doing business with companies sanctioned by the U.S. government. According to TAC, As of late 2023 Microsoft owned 22 percent of Shanghai Wicresoft Co. Ltd., which began in 2022 as a joint venture between the...

How Much Does a Pound of Gold Cost?

(Mike Maharrey, Money Metals News Service) How much would it cost to buy a pound of gold? It actually depends on what you mean by "pound." Yes. There is more than one kind of pound. We typically talk about the price of gold in terms of ounces. As I write...
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