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Saturday, November 23, 2024

FINANCE

Election Year Medicare Move Costs Taxpayers $21B over Next 3 Years

(Shirleen Guerra, The Center Square) The Congressional Budget Office has released an analysis of the Biden administration's newly announced Medicare prescription drug premiums, estimating the new program could cost taxpayers more than $21 billion over three years if implemented. The analysis comes after House Ways and Means Committee Chairman Jason...

Labor Dept. Claims 254K New Sept. Jobs as Gov’t Goes on Hiring Spree

(Shirleen Guerra, The Center Square) The Bureau of Labor Statistics employment data shows that the American job market picked up in September with the unemployment rate declining slightly to 4.1%. The report shows employers added 254,000 jobs, higher than the previous 12 months average monthly gain of 203,000, and higher...

Biden’s Student Loan Scam Blocked Again by Missouri Judge

(Headline USA) A federal judge in Missouri put a temporary hold on President Joe Biden's latest student loan cancellation plan on Thursday, slamming the door on hope it would move forward after another judge allowed a pause to expire. Just as it briefly appeared the Biden administration would have a window...

Currency Carry Trades Become Renewed Gold Price Drivers

(Mike Gleason, Money Metals News Service) As the U.S. dollar bounces back versus foreign currencies, gold and silver markets are showing resilience. The Dollar Index is moving up sharply in the early goings of October after falling steadily for three months prior.  Currency traders ditched the Japanese yen after Japanese...

Gold Getting a Boost from the “Debasement Trade”

(Mike Maharrey, Money Metals Exchange) Gold is being boosted by a “debasement trade,” and according to JPMorgan analysts, this dynamic “may have legs.” Gold has been pushed to record highs in recent weeks. A weakening dollar and lower real bond yields have created tailwinds for the yellow metal. However, according to...

Central Bank Gold Buying Moderated in August But Remained Positive

(Mike Maharrey, Money Metals News Service) After doubling in July, central bank gold buying slowed in August with record high prices but remained in positive territory. Globally, central banks added a net 8 tons of gold to their reserves in August. Although it was the lowest net increase in gold reserves...

Union Boss Who Threatened to ‘Cripple’ U.S. Economy Lives in Mansion

(Dmytro “Henry” Aleksandrov, Headline USA) It was recently revealed that the International Longshoremen’s Association’s president, Harold Daggett, lives like a king, except not in a castle. On Tuesday, the New York Post's exclusive photos showed Daggett's Bentley convertible parked outside his massive, 7,136-square-foot mansion in New Jersey. The images revealed that...

Money Metals Midweek Memo: The Power of Gold in an Inflationary World

(Money Metals News Service) In the latest episode of the Money Metals Midweek Memo, host Mike Maharrey discusses the current state of the U.S. dollar, the ongoing threat of inflation, and why holding gold and silver remains a vital strategy for preserving wealth. Maharrey begins with an anecdote from 2019...

Silver Miners Struggle to Keep Up With Demand

(Mike Maharrey, Money Metals News Service) Demand for silver has skyrocketed in recent years, and supply hasn’t been able to keep up. Silver demand has outstripped supply for three straight years and the Silver Institute projects another market deficit in 2024. This is primarily due to rapidly rising industrial demand,...

Hungarian Central Bank Announces Increase in Gold Reserves

(Mike Maharrey, Money Metals News Service) The Hungarian National Bank has joined the growing number of central banks globally, increasing their gold reserves.  In a recent press release, Hungary's central bank announced it has increased its gold holdings from 94.5 tons to 110 tons this year. “The increase in the gold...

‘Drill, Baby, Drill’: Energy Costs To Drop ‘50%,’ Trump Tells Dave Ramsey

(Matt Lamb, Headline USA) Former President Donald Trump pledged, if re-elected, to cut energy costs “50%” during a recent interview with financial expert Dave Ramsey that was released on Wednesday. Ramsey, one of the most popular radio hosts in the country, said he had offered to talk with Vice President...

The Untold History of Gold Rushes in the United States

(Joshua D Glawson, Money Metals News Service) The discovery of gold in the United States profoundly shaped the nation’s economic and social development, especially during the 19th century. These gold rushes transformed regional economies, spurred massive population movements, led to the establishment of new towns, and influenced U.S. territorial expansion. While...
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