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Friday, March 29, 2024

FINANCE

MAHARREY: Good Economic News Is Bad News!

(Mike Maharrey, Money Metals News Service) We live in a strange world where good economic news is perceived as bad, and bad economic news is good. In this episode of Midweek Money Metals’ Memo, host Mike Maharrey provides some examples of this strange phenomenon, and then explains why this is...

Coke Hopes to Excite Younger Drinkers w/ New ‘Spiced’ Raspberry-Flavor

(Headline USA) From Flamin’ Hot Cheetos to Sweet Heat Starburst, America’s snacks are getting spicier. Now, Coca-Cola wants in on the trend. On Wednesday, the Atlanta beverage giant introduced Coca-Cola Spiced, the first new permanent offering to its North American portfolio in three years. Coca-Cola Spiced and Coca-Cola Spiced Zero...

IRS to Collect Billions More in Unpaid Taxes Thanks to New Funding

(Headline USA) The old axiom "You have to spend money to make money" seems to hold true not just for capitalist entrepreneurs but also for the federal government. However, it is taxpayers' money being spent in the government's case, in order to enable the bloated and corrupt Internal Revenue...

Deep-Fake Scammers Steal $25M w/ Phony AI-Generated Conference Call

(Jacob Bruns, Headline USA) A Hong Kong company lost the equivalent of over $25 million from a sophisticated scam using deep-fake technology, Ars Techinica reported. The scammers digital replicated the voice of the company's chief financial officer's, along with those of other top level employees, during an online meeting. In...

Fed Chair Powell Channels Ben Bernanke, Assures Us Everything Is Fine!

(Mike Maharrey, Money Metals News Service) I have written that the commercial real estate market could be the next thing to pop in this bubble economy and that could lead to the next major financial crisis. But you don’t need to worry. Federal Reserve Chairman Jerome Powell assured us that...

What the Postponed Fed Pivot Means for Gold…

(Brien Lundin, Money Metals News Service) As we predicted, Jerome Powell threw a bucket of cold water on gold and the rest of the markets, and we’re now experiencing sell-offs as expectations reset. Gold – along with just about every other investment sector – continues to sell off in the...

Disney Seeks Order to Keep Trade Secrets Confidential in Anti-DeSantis Lawsuit

(Headline USA) Disney asked a state court judge on Friday for a protective order allowing it to designate documents and depositions as confidential and requiring parties handling them to sign a nondisclosure agreement. The entertainment giant wants to keep confidential any trade secrets or proprietary information that come out of...

Silver Demand Expected to Hit Second-Highest Level on Record in 2024

(Mike Maharrey, Money Metals News Service) Silver demand is expected to rise 1 percent, hitting 1.2 billion ounces in 2024, the second-highest level on record, according to projections by the Silver Institute. Industrial demand for silver is expected to lead the growth in global demand this year with a 4...

A Banking Crisis Is Quietly Brewing

(Stefan Gleason, Money Metals News Service) The Federal Reserve’s most recent policy statement came with a curious omission. Fed officials removed language from previous statements that proclaimed “the U.S. banking system is sound and resilient.” That begs the question: Is the banking system no longer sound and resilient? The Fed initially...

UPS Begins Layoffs Months after ‘Lucrative’ Union Deal Raising Wages

(Mike Maharrey, Money Metals News Service) Economics always wins. Ask UPS workers. The shipping giant recently announced plans to lay off 12,000 employees, citing a forecast for weaker shipping demand in 2024. The company said the downsizing will save about $1 billion in employee costs. According to a report published...

FBI Arrests Precious Metals Scammer

(Ken Silva, Headline USA) In a case that illustrates the importance of purchasing precious metals through an accredited dealer, a North Carolina man was arrested this week for selling phony rhodium, as well as scamming someone out of $210,000 of the same. According to the FBI’s criminal complaint, the alleged...

Tax Relief Bill Heads to the Senate: Relief for Some, Welfare for Many?

(Gwendolyn Sims, Headline USA)  On Wednesday, the U.S. House of Representatives passed the Tax Relief for American Families and Workers Act of 2024. The bipartisan bill passed the House 357 to 70 to expand eligibility for the child tax credit for lower-income families. It adjusts payments for inflation for...
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