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Tuesday, November 5, 2024

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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...

Fed Balance Sheet Reveals It Was a Half-Hearted Inflation Fight

(Mike Maharrey, Money Metals News Service) It appears more and more likely that the Federal Reserve is poised to completely abandon any pretense of fighting inflation, despite the fact CPI remains well above the 2% target. The Fed has already paused interest rate hikes, and most analysts expect rate cuts...

95% of Claims for a Federal COVID Program were Fraudulent

(Headline USA) When IRS Commissioner Danny Werfel met privately with senators recently, the chairman of the Senate Finance Committee asked for his assessment of a startling report: A whistleblower estimated that 95% of claims now being made by businesses for a COVID-era tax break were fraudulent. “He looked at his...

China Now the Biggest Retail Buyer of Gold

(Mike Gleason, Money Metals News Service) As superficially upbeat economic data propels the stock market to new highs, precious metals investors are questioning the story being told by Wall Street cheerleaders and government bureaucrats. On Thursday, the Bureau of Economic Analysis announced its Gross Domestic Product estimate for the fourth...

Silver Use in India Solar Projects Is Skyrocketing

(Jon Forrest Little, Money Metals News Service) The rapidly growing middle class in India has led to massive new energy demand, and the populous nation is increasingly turning to solar. A boom in solar projects worldwide is gobbling up substantially more silver ounces every year, adding to the annual silver...

MAHARREY: Understanding the Hidden Impact of Taxes and Inflation

(Mike Maharrey, Money Metals News Service) In our complex financial landscape, few things are as pervasive and recurrent as taxes. From the obvious ones like income, sales, and property taxes to the less apparent ones embedded in our daily bills, the spectrum of taxation is wide and deep. However,...

Nebraska Sen. Introduces Measure to Eliminate Income Taxes on Gold, Silver

(Money Metals News Service) The Nebraska State Senate will consider a measure that explicitly states that Central Bank Digital Currencies are not money in the state of Nebraska, as well as eliminating capital gains taxes from gold and silver. Senator Ben Hansen (R-16) has introduced LB 1305 in the 2024 legislative season....
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