(Jan Nieuwenhuijs, Money Metals News Service) The share of global official gold reserves not stored at the Federal Reserve Bank in New York (FRBNY) and Bank of England (BOE) in London has reached 78% in 2024, from 51% in 1972.
The shift in this ratio appears to be accelerating and can be...
(Mike Maharrey, Money Metals News Service) During a recent interview, Federal Reserve Chairman Jerome Powell said Bitcoin is “just like” gold and is not competing with the U.S. dollar.
Not long after his comments, Bitcoin surged to over $100,000.
During the New York Times DealBook Summit on Wednesday (Dec. 5), an...
(Mike Maharrey, Money Metals News Service) After rebounding in September, central bank gold buying surged in October, doubling the 12-month average.
Central banks added a net 60 tonnes of gold to reserves in October, the highest monthly total year-to-date, according to data collected by the World Gold Council. That pushed...
(Money Metals News Service) The latest episode of the Money Metals Midweek Memo, hosted by Mike Maharrey, dug deep into critical topics including the Federal Reserve’s precarious financial situation, ongoing inflationary pressures, and the role of precious metals in safeguarding wealth.
Here’s a comprehensive breakdown of the episode.
The Federal Reserve: Bleeding...
(Ken Silva, Headline USA) A federal judge in Texas has put a preliminary injunction against the U.S. government enforcing of the Corporate Transparency Act, which would require the country’s estimated 32.6 million active companies to submit their private ownership information to a central database ran by the Treasury Department.
The...
(Headline USA) An investigation is underway after a Secret Service agent working on protective assignment outside Treasury Secretary Janet Yellen’s house fired a weapon following a confrontation between the agent and occupants of a sedan, early Tuesday.
At roughly 1:30 a.m. Tuesday, the agent assigned to Yellen’s protective detail outside of...
(Ken Silva, Headline USA) Billionaire Elon Musk and entrepreneur Vivek Ramaswamy’s plan to downsize the federal government entails requiring bureaucrats to return to pre-COVID working conditions.
“Requiring federal employees to come to the office five days a week would result in a wave of voluntary terminations that we welcome,” Musk and Ramaswamy, who...
(Mike Maharrey, Money Metals News Service) Last week, Russia announced a temporary ban on the export of precious metals scrap. The Russian government hopes keeping scrap within its borders will enhance domestic refining operations.
This strategic move is intended to boost the country's gold and silver supplies and direct those...
(Mike Maharrey, Money Metals News Service) Distress in the commercial real estate bond market is at all-time highs, a sign that the Fed has messed up the economy more than most people realize.
Most mainstream commentators are sanguine about the economy. They believe the Federal Reserve has effectively reined in...
(Stefan Gleason, Money Metals News Service) As President-elect Donald Trump assembles a cabinet that will be tasked with implementing policy change at the federal level, individual state governments are plotting their own policy responses.
California Gov. Gavin Newsom is organizing a coalition of blue states to resist the “Make America...
(Mike Maharrey, Money Metals News Service) In a region fraught with geopolitical turmoil, Eastern European central banks are loading up on gold.
Poland, Hungary, and the Czech Republic have been among the top gold buyers this year, with Poland leading the way.
As a Bloomberg report put it, “Striving for a sense of...
(Mike Maharrey, Money Metals News Service) Indians have a strong affinity for gold and silver. This has traditionally been expressed in demand for gold and silver jewelry, along with bars and coins. But over the last year, there has been tremendous growth in gold and silver exchange-traded funds (ETFs).
In...