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Monday, November 25, 2024

FINANCE

$1 Million Gold Bars for the First Time Ever!

(Mike Maharrey, Money Metals News Service) For the first time ever, a 400-ounce bar of gold is worth $1 million. No wonder so many central banks and investors are piling up the yellow metal. We hit the $1 million gold bar milestone on Friday when the price of gold topped...

Import Tax Cut Boosts Indian Gold Demand

(Mike Maharrey, Money Metals News Service) As expected, India's recent gold import tax cut lowered prices and spurred demand for the yellow metal. India ranks as the world's second-largest gold consumer behind China. Late last month, the Indian government cut taxes on gold and silver imports by more than half, lowering...

GM Lays Off 1,000 Salaried Tech Jobs as Biden’s EV Push Sputters

(Matthew Doarnberger, Headline USA) General Motors said it would lay off more that 1,000 salaried employees in its software and services divisions worldwide according to a CNBC report. Roughly 600 of the layoffs will occur at GM's tech campus near Detroit, Mich. The reduction in employees comes following the resignation...

Import Quotas Could Portend New Surge in Chinese Gold Demand

(Mike Maharrey, Money Metals News Service) New gold import quotas for Chinese banks could foreshadow another surge in Chinese demand.  Demand for gold was white-hot in China last spring, helping drive global prices to record highs. Chinese demand slowed in recent months due to high prices, but there are signs...

Dollar Reserves Have Dropped By 14 Percent Since 2002

(Mike Maharrey, Money Metals News Service) Dollar dominance is slowly ebbing as the world looks to diversify away from the greenback. The share of dollars making up global reserves has dropped by 14 percent since the turn of the century, according to data compiled by the Atlantic Council.  As of 2002,...

Did Mark Twain Anticipate the Trillion Dollar Coin?

(Chris Powell, Money Metals News Service) Responding to the recent commentary about the idea to spectacularly increase the U.S. money supply via the minting and depositing at the Federal Reserve of one or two platinum coins of trillion-dollar denominations, a friend asks: What would a trillion-dollar platinum coin do to...

House GOP Releases Report on Biden Crimes; Will Impeachment Proceed against Lame Duck?

(Headline USA) House Republicans have released their initial impeachment inquiry report on President Joe Biden, alleging an abuse of power and obstruction of justice in the financial dealings of his son Hunter Biden and family associates. The almost 300-page report out Monday, the opening day of the Democratic National Convention, covers familiar ground, asserting the Biden...

Kamala Comes Out w/ Gibberish, Head-Scratching Moments in Pa.

(Luis Cornelio, Headline USA) Vice President Kamala Harris offered unscripted remarks on Sunday after avoiding exchanges with the friendly legacy media since being named the presumptive Democratic nominee for president. Her speeches, delivered while campaigning in western Pennsylvania, were marked by her infamous word salads and incoherent rambling. In Rochester, Pennsylvania, Harris...

TikTok Compares Itself to Foreign-Owned American News Outlets As It Fights Forced Sale or Ban

(Headline USA) TikTok on Thursday pushed back against U.S. government arguments that the popular social media platform is not shielded by the First Amendment, comparing its platform to prominent American media organizations owned by foreign entities. Last month, the Justice Department argued in a legal brief filed in a Washington...

WaPo Admits Kamala’s Price-Fixing Proposal Is Communist

(Headline USA) Even a left-wing columnist for the Washington Post admitted this week that Vice President Kamala Harris’s recently announced economic plan to ban “price-gouging” was communist. Amid growing scrutiny over her lack of clear policies, Harris teased part of her economic agenda on Wednesday, saying she would call for...

Gold Eyes Huge Breakout as Politicians Seek Big Rate Cut

(Mike Gleason, Money Metals News Service) As the political battle over inflation and the state of the U.S. economy heats up, gold prices continue to simmer near record highs. The preeminent monetary metal teased breaking above the $2,500 level early in the week before succumbing to some mild selling pressure...

Market Dynamics, Gold, and Bitcoin: Insights from Frank Holmes

(Money Metals News Service) In a recent Money Metals podcast, host Mike Maharrey interviewed Frank Holmes, the CEO and Chief Investment Officer of U.S. Global Investors, and Executive Chairman of HIVE Blockchain Technologies. Holmes shared his extensive knowledge of various financial and market trends, providing insights into the current economic...
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