FINANCE
$1 Trillion Coins Instead of More Federal Debt?!
Credit risk out of China and debt ceiling drama in Washington are driving precious metals markets this week.
Gold and silver attracted some significant safe-haven buying as equity markets succumbed to selling.
The storyline being trumpeted in the financial media is that a government shutdown and possible debt default loom in...
Jobless Claims Rise 351,000 in Surprise Jump
(Headline USA) The number of Americans applying for unemployment aid rose last week for a second straight week to 351,000, a sign that the Biden administration's and Congressional Democrats' policy prescriptions for stimulating the economy may be disrupting the job market's recovery.
Thursday's report from the Labor Department showed that jobless claims...
Corruption at the Fed: Are America’s Money Masters Engaged in Self-Dealing?
(Jp Cortez, Sound Money Defense League) America’s central bankers are tasked with impartial oversight over aspects of the American economy.
But could these individuals be making decisions on interest rates and bailout operations based on what is best for their own personal investment portfolios?
After some embarrassing revelations regarding the trading activities...
Biden’s Economy is Worse than Global Economic Experts Expected
(Casey Harper, The Center Square) – A major international economic forecasting group has now lowered its optimism about a U.S. rebound from the COVID-19 pandemic.
The Organisation for Economic Cooperation and Development (OECD) Tuesday released its Economic Outlook, a “twice-yearly analysis of the major global economic trends and prospects for...
John Kerry’s Wife Has Millions of Dollars Invested in China
Climate change envoy John Kerry’s wife has millions of dollars in Chinese investments through her family’s trust, according to government documents.
Kerry disclosed the investments in his latest filing with the Office of Government Ethics.
The report shows his wife, Teresa Heinz, heiress of Heinz Ketchup, has holdings worth “at least...
New Ben & Jerry’s Flavor Supports ‘Defund the Police’ Activists
Ben & Jerry's on Monday released a new ice cream flavor called "Change is Brewing" in coordination with Movement 4 Black Lives and Rep. Cori Bush, D-Mo., who vehemently oppose funding for the police, the New York Post reported.
The company will donate some proceeds from sales to "grassroots groups...
Audit Finds California Regularly Sends Pension Checks to Dead People
(Cole Lauterbach, The Center Square) An audit of the California Public Employees' Retirement System, America’s largest public pension fund, found regular payments to pensioners well after they died, so much so it’s challenging to get the money back.
Around 1,800 CalPERS pensioners die every month, according to a June memorandum from the fund’s...
Media Attempt to Downplay Alarming New Inflation Report
(Brad Polumbo, Foundation for Economic Education) It’s no secret that the mainstream media has a left-leaning bias.
So it’s not exactly surprising that when alarming new inflation data were released on Tuesday, many journalists and media outlets attempted to downplay the story.
After all, rising concerns about inflation could hamper the federal...
Futures Market Speculators Crushed Again
(Clint Siegner, Money Metals News Service) The gold and silver futures markets were designed to increase volatility and discourage physical ownership of precious metals, as revealed in 1970s-era disclosures. The futures markets have also created opportunities for manipulation.
Today, the corruption is on full display for anyone who cares to look...
New York Law Bans Sale of Gasoline-Powered Vehicles by 2035
(Steve Bittenbender, The Center Square) A bill signed into law last week by New York Gov. Kathy Hochul effectively outlaws the sale of new gas-powered vehicles in less than 14 years.
The law, Senate Bill S2758 and Assembly Bill A4302, sets a goal that 100% of all passenger cars, trucks and...
McConnell Warns Yellen that GOP Won’t Help Raise Debt Limit
(Associated Press) Senate Minority Leader Mitch McConnell has warned Treasury Secretary Janet Yellen he is not budging on his demand that Democrats go it alone on the federal debt limit, deepening the emerging standoff in Congress over how to boost the government's borrowing authority.
Doug Andres, a spokesman for McConnell, said...
Treasury Dept Seeks to Track Transactions of Bank Accounts Over $600
(Peter Jacobsen, Foundation for Economic Education) In May, the Treasury Department released the Biden administration’s revenue proposals for fiscal year 2022.
One aspect of this document that has gone under-reported is the administration's new plan for reporting requirements for financial institutions.
The document is unequivocal about the administration’s goal for financial reporting,...
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