Tuesday, May 13, 2025

FINANCE

Feds Investigating CA “For Providing Federal Benefits to Illegal Aliens”

(Kenneth Schrupp, The Center Square) The U.S. Department of Homeland Security says it is investigating the “State of California for providing federal benefits to illegal aliens,” beginning with Los Angeles County, where local officials say one in 10 residents are illegal immigrants.   It’s unclear what California is being investigated for,...

U.S., China Agree to Cut Tariffs After Trade Meeting

(Brett Rowland, The Center Square) The United States and China will cut tariffs on imports from each other as the world's two largest economies look to reach a broader deal on trade after months of tensions.  After a single weekend meeting, the two global superpowers agreed to slash tariffs set...

Trump Signs Sweeping Order to Lower the Cost of Prescription Drugs

(Headline USA)  President Donald Trump said he will set a 30-day deadline for drugmakers to lower the cost of prescription drugs in a sweeping executive order that he will sign on Monday. The order calls on the health department, led by Robert F. Kennedy Jr., to broker new price tags...

Consumer Borrowing Remained Sluggish in March Hinting Economic Stress

(Mike Maharrey, Money Metals News Service) After crashing in February, consumer borrowing remained tepid in March, a worrying sign for an economy that runs on credit cards. Borrowing has been slowing for the past several months, raising the prospect that Americans may finally be edging close to their credit limits. Total...

Indian Jewelry Market Reveals the Push and Pull of Higher Gold Prices

(Mike Maharrey, Money Metals News Service) Rising gold prices have spurred investment demand, especially in the East, and helped drive Q2 gold demand to the highest level since 2016. In China, demand for gold bars and coins charted the second strongest quarter on record. However, high prices put a drag on jewelry...

Here’s Where Gold & Silver Stand

(Jesse Colombo, Money Metals News Service) Both gold and silver are undergoing healthy consolidation phases after their strong rallies, allowing them to reset and work off overbought conditions. It’s time for an updated look at where things stand. Three weeks ago, I suggested that gold may have temporarily peaked after a...

DOJ Charges USAID Officer w/ Fraud

(Ken Silva, Headline USA) The Justice Department filed a criminal charge Friday against Yusuf Akoll, a former senior procurement contract specialist for the U.S. Agency for International Development, which was recently shuttered and folded into the State Department. According to the DOJ, Akoll formed a shell company in November 2020...

U.S. and China Reach Trade Agreement

(Alan Wooten, The Center Square) Market implications are expected Monday morning worldwide following Sunday’s announcement of a trade agreement between the United States and China. No details were announced between countries doing an estimated $600 billion in trade annually. The two superpower countries have sparred since President Donald Trump’s January...

CA’s $10B Deficit ‘Precisely’ Matches Illegal Immigrant Health Care Cost

(By Kenneth Schrupp, The Center Square) California legislators have been told to expect a deficit of $10 billion or more even if revenues do not fall due to higher than anticipated spending, reports Politico. Critics note that the $10 billion figure matches estimated costs of the state’s expansion of eligibility...

Google to Pay Texas $1.4B to Settle Claims of Collecting Users’ Data w/o Permission

(Headline USA) Google will pay $1.4 billion to Texas to settle claims the company collected users' data without permission, the state’s attorney general announced Friday. Attorney General Ken Paxton described the settlement as sending a message to tech companies that he will not allow them to make money off of “selling...

Central Banks, De-Dollarization, and the Bull Market in Gold

(Money Metals News Service) In this episode of the Money Metals podcast, host Mike Maharrey chats with Dr. Nomi Prins in an engaging interview. Dr. Nomi Prins kicked off the discussion by framing today’s gold rally as just the beginning of a much larger trend. She forecasted gold reaching $3,000...

One Last Biden Grift? $30 Million Book Deal Reportedly in the Works

(Luis Cornelio, Headline USA) Joe Biden’s reputation rehab tour may soon include a massive payday.   The disgraced former president is reportedly eyeing a multi-million-dollar book deal alongside his wife, former First Lady Jill Biden.  Biden, fresh off defending his scandal-plagued legacy on the leftist show The View, is already drafting a...
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