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Tuesday, February 18, 2025

FINANCE

DOGE’s Next Target: the IRS

(Headline USA) Elon Musk's Department of Government Efficiency is seeking access to taxpayer data at the IRS, two people familiar with the inner workings of the plan who were not authorized to discuss the matter publicly told The Associated Press on Monday. If successful, Musk and his group would have access...

House Report: 60 Chinese Espionage Cases, 224 Incidents in 3 Years

(The Center Square) – More than 60 Chinese Communist Party-related cases of espionage and acts of transnational repression have been reported in 20 states according to a new report published by the U.S. House Committee on Homeland Security. That’s in addition to 224 reported incidents of Chinese espionage directed at the U.S....

Money, Morality, and DOGE

(Clint Siegner, Money Metals News Service) Ayn Rand thought a lot about the philosophy of money. She understood gold as money functioned beyond providing safe haven, a store of value, and a medium of exchange. It has moral and cultural implications. People refer to it as “honest money” for...

Gold, Debt, and the Coming Financial Storm

(Money Metals News Service) In a recent episode of the Money Metals podcast, host Mike Maharrey sat down with financial analyst Greg Weldon to discuss the state of global markets, gold’s record-breaking rally, and the looming debt crisis threatening economic stability. Weldon, a veteran trader and macroeconomic expert, shared critical insights into...

Americans Ran Up Even More Debt to Pay for Christmas

(Mike Maharrey, Money Metals News Service) Christmas 2024 was brought to you by Visa, Mastercard, et al. Was this the last gasp of an American consumer buried under mountains of debt? Retail sales were strong in December (up 0.7 percent). Economists and pundits lauded the "strength" of American consumers and...

Why Inflation and “Real Interest” Rates Are Bullish for Gold

(Mike Maharrey, Money Metals News Service) It’s clear that the Federal Reserve hasn’t won the inflation fight. With the CPI trending higher for four straight months, the markets aren’t pricing in another interest rate cut until September. Isn’t a “higher for longer” interest rate environment bearish for gold? The short answer is no...

Trump’s HHS Purge Begins w/ More than 5,000 Jobs on the Chopping Block

(Headline USA) The Trump administration’s effort to slash the size of the federal workforce reached the Food and Drug Administration this weekend, as recently hired employees were fired. Probationary employees across the FDA received notices Saturday evening that their jobs were being eliminated, according to three FDA staffers who spoke to...

Fiscal Hawks: House Budget Plan Could Add $25 TRILLION in Debt over Next Decade

(The Center Square) House leaders have praised their early work on crafting a budget, but outside groups estimate the spending plan could add $25 trillion to the national debt over the next decade. Part of the disconnect is the extension of the 2017 Tax Cuts and Jobs Acts, which Republicans...

Trump: Military Spending Could Be Cut in Half; No Reason to Build New Nuclear Weapons

(Dave DeCamp, Antiwar.com) President Trump told reporters on Thursday that he believes US military spending could eventually be cut in half and that he wants to pursue the idea as part of an agreement with Russia and China. He also said there was no reason to build new nuclear weapons. “At some...

Treasury Dept. Inspector General Begins Audit of Musk’s Payroll Access

(Headline USA) The Treasury Department's Office of Inspector General on Friday said it was launching an audit of the security controls for the federal government's payment system, after Democratic senators whined about the access provided to Trump aide Elon Musk's Department of Government Efficiency team. The audit will also review the...

House Passes $4.5B Budget ‘Blueprint’ for America First Agenda, but Senate May Resist

(Thérèse Boudreaux, The Center Square) Following more than 10 hours of discussion, the House Budget Committee voted along party lines Thursday night to advance a $4.5 trillion budget resolution that lays out funding plans for President Donald Trump’s border, defense, and energy policies. It also extends Trump’s 2017 tax cut...

Pritzker Flops in Sad Attempt to Downplay Trump’s Surging Approval Rating

(Kevin Bessler, The Center Square) Illinois's far-left billionaire Gov. J.B. Pritzker attempted to put down President Donald Trump by noting that his popularity, now reaching new heights for his presidency, had yet to take root in his state. “You can look at one poll and say ‘oh gee, he’s popular...
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