Tuesday, July 1, 2025

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Business as Usual: Another Big Budget Deficit in May

(Mike Maharrey, Money Metals News Service) After running a surplus in April thanks to tax day, the federal government was back to business as usual in May, spending massive amounts of money and charting another big budget deficit. At $316 billion, the May budget shortfall was the second-largest of the fiscal year....

Ex-Illinois House Speaker Gets 7.5 Years in Prison, $2.5 Million Fine for Corruption

(Jim Talamonti, The Center Square) A federal judge sentenced Michael Madigan Friday to seven-and-a-half years in prison and ordered him to pay a fine of $2.5 million for crimes committed during his tenure as the longest-serving speaker of the Illinois House of Representatives. Judge John Robert Blakey handed down the...

A Border Patrol Agent Died in 2009. His Widow is Still Fighting for Benefits

(Headline USA) When her husband died after a grueling U.S. Border Patrol training program for new agents, Lisa Afolayan applied for the federal benefits promised to families of first responders whose lives are cut short in the line of duty. Sixteen years later, Afolayan and her two daughters haven't seen a...

Why Investors Can’t Trust the System—and Should Trust Gold

(Money Metals News Service) In a wide-ranging and candid interview on the Money Metals podcast, host Mike Maharrey sat down with Axel Merk—President and CIO of Merk Investments—to explore the deepening divide between government fiscal behavior and investor interests. The conversation centered on growing sovereign debt, entitlement reform avoidance, shifting macroeconomic dynamics,...

Woke Snow White Is Disney’s Biggest Flop in Years

(Luis Cornelio, Headline USA) Disney's controversial live-action remake of Snow White has become its worst-performing wide-release reboot in nearly a decade, marking yet another case of “go woke, go broke.”  The 2025 film reportedly cost $410 million to make and promote, but it barely grossed $200 million worldwide, resulting in an official...

Dollar Hits 3-Year Low—Here’s What It Means for Precious Metals

(Jesse Colombo, Money Metals News Service) The U.S. dollar is undergoing a major technical breakdown—a highly bullish development for commodities, especially precious metals and their mining stocks. For the past couple of months, I’ve been warning of a likely breakdown in the U.S. dollar—an event that historically signals a bullish...

Broken Precious Metal Promises

(Stuart Englert, Money Metals News Service) Whenever the indebted United States nears its legal borrowing limit, the fiscal can kickers in Washington, D.C., and their misinformation-spewing mouthpieces spout an oft-repeated falsehood and make audacious predictions about the nation’s ability to finance its burgeoning debt forever. “The U.S. has never defaulted...

Gold Overtakes Euro as Second-Largest Global Reserve Asset

(Mike Maharrey, Money Metals News Service) Due to a combination of central bank gold buying and the surging price of gold, gold has overtaken the euro as the world’s number two reserve asset. But it’s not so much that gold is replacing the euro. It is supplanting the dollar. Based on data released by the...

Money Wisdom from the Seminole Indians

(Mike Maharrey, Money Metals News Service) Did you know the Seminole Indians refused to conduct trade using paper money? True story. When doing business with white traders, the Seminoles insisted on barter or silver coinage. Why? Because they understood the unreliability of fiat currency and the government that "backs" it. I learned this...

Argentina’s Budding Love Affair With Gold

(Mike Maharrey, Money Metals News Service) Argentines are married to the dollar, but they're having a love affair with gold. As a Bloomberg article framed it, Argentines were once "almost irrationally devoted to the dollar." In fact, the country ranks among the top holders of U.S. dollars. According to Bloomberg, the devotion to the dollar...

May CPI Ratchets Up Pressure on Fed to Return to Inflation

(Mike Maharrey, Money Metals News Service) The May CPI report is ratcheting up pressure on Jerome Powell and the Federal Reserve to cut interest rates. In other words, the perception that the inflation problem is solved is raising the specter of more inflation. In a social media post on Wednesday, Vice...

Report: Biden Administration Spied on Foreigners Who Visited w/ Elon Musk

(José Niño, Headline USA) Federal agencies under the Biden administration monitored foreign visitors to Elon Musk, according to a Wall Street Journal report.  The Journal's Tuesday report specifically revealed that, throughout 2022 and 2023, multiple U.S. government agencies monitored the movements of foreign nationals traveling to visit Musk at his...
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