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Tuesday, December 24, 2024

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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....

Republicans, Democrats Team Up to Saddle Americans with More Debt

(Money Metals News Service) Bullion investors are naturally concerned about unsound monetary and fiscal policy. Many of them buy precious metals, in part, because they recognize the federal government is out of control when it comes to borrowing and spending. This makes the most recent betrayal by the Republicans in...

Concerns Raised over Aging N.H. Voting Equipment Ahead of Primary

(Headline USA) When New Hampshire voters cast their ballots in Tuesday’s first-in-the-nation primary, many will do so using scanners that are at least 15 years old—with some potentially dating back to Bill Clinton’s presidency. Election experts say the aging AccuVote ballot tabulators in use across roughly half the state’s towns...

Trump Vows to Block Central Bank Digital Currency Schemes

In this week's Money Metals’ Weekly Market Wrap update with Mike Gleason, the podcast covers several key financial topics Stock Market Trends  The S&P 500 index is approaching record highs, suggesting a bullish trend in the stock market. Precious Metals Market  There has been a rally in the gold and silver markets, partly...

Which Countries Have the Most Gold?

(Money Metals News Service) Central banks around the world have aggressively added gold to their reserves over the last several years. In 2022, central bank gold buying came in at 1,136 tons. It was the highest level of net purchases on record dating back to 1950, including since the suspension...

Biden’s EV Push Frozen by Arctic Weather

(Glenn Kalinoski, Headline USA) The subfreezing weather impacting much of the U.S. has exposed a major headache for electric vehicle owners, proving to be yet another setback in President Joe Biden's failed efforts to foist fossil-fuel alternatives onto disinterested consumers who see greater risk than reward in the pricey...

Vermont Representatives File Bill to End Sales Tax on Gold and Silver

(Money Metals News Service) Representatives in Vermont realize that their state has become a big outlier, and that it’s high time for the state to end their practice of taxing purchases of gold and silver. House Bill 295, a measure that removes this taxation from gold and silver coins and...
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