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Monday, January 13, 2025

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Flip-Flopping Kamala Dodges Question on Whether She Still Backs Reparations

(Headline USA) Vice President Kamala Harris dodged a question about whether she still supports reparations during a softball interview Tuesday with the National Association of Black Journalists, NBC News reported. Politico writer Eugene Daniels, the NABJ moderator, noted that Harris had previously expressed support for a federal “commission,” modeled after those...

Fed Fulfills Promise w/ Half-Point Rate Cut, but Reaction Dampened by Expectation

(Headline USA) The Federal Reserve on Wednesday cut its benchmark interest rate by an unusually large half-point, a dramatic shift after more than two years of high rates that helped tame inflation but also made borrowing painfully expensive for American consumers. The rate cut, the Fed’s first in more than...

Embattled Boeing Considers Temporary Layoffs as Worker Strike Piles on Struggles

(Headline USA) Boeing told employees Monday that it planned to freeze hiring and reduce travel and was considering temporary layoffs to save cash during a factory workers’ strike that began last week. The troubled company said the moves, which include reduced spending on suppliers, were necessary because “our business is...

Major Companies Bail on Radical Activist Group’s LGBT Index after Anti-Woke Pushback

(Headline USA) Facing increased accountability from pro-values consumers over the pernicious influence of the controversial Environmental, Social and Governance (ESG) movement in both the workplace and the marketplace, major corporations have begun bailing on a radical LGBT activist group's longstanding demands. The Human Rights Campaign initially focused its report card,...

Howard Stern Backlash Prompts Sirius Cancellation Concerns

(Ben Sellers, Headline USA) As one of SiriusXM's top former draws unleashed a vicious diatribe against supporters of GOP presidential nominee Donald Trump, the satellite-radio company unveiled plans for a weekly show with Trump's top primary rival, in what may be a last-ditch bid to salvage some of its Republican...

American Consumers Spending More, Getting Less

(Mike Maharrey, Money Metals News Service) Retail sales beat expectations in August, rising by 0.1 percent month-on-month. You might assume this means American consumers did better this month than last month. A deeper look into the context of these numbers offers another perspective. The retail sales data only tells us...

Russians Using Gold to Do Business, Skirt Sanctions

(Mike Maharrey, Money Metals News Service) Russian businesses are using gold to pay Chinese suppliers as a way to skirt economic sanctions. According to the Russian website Russia’s Pivot to Asia, Russian businesses are buying physical gold in Russia and then transporting it to Hong Kong via courier. There, the...

Bucking Gold Repatriation Trend, Argentina Sends More Gold to London

(Jan Nieuwenhuijs, Money Metals News Service) In July, the Central Bank of Argentina (BCRA) shipped another 3 tonnes of gold to the U.K. to swap for foreign exchange. A month prior, BCRA also transported 3 tonnes to the U.K. BCRA is now estimated to have 37 tonnes (60% of...

Instagram Enacting Strict New Privacy Settings for All Teen Accounts

(Headline USA) Instagram is making teen accounts private by default as it tries to make the platform safer for children amid a growing backlash against how social media affects young people's lives. Beginning Tuesday in the U.S., U.K., Canada and Australia, anyone under under 18 who signs up for Instagram...

Don’t Forget About Silver

(Clint Siegner, Money Metals News Service) Silver exploded higher last week, gaining nearly $3/oz (over 10%). Despite the big move, the ratio of the gold price to the silver price is still around 84 to 1. The long-term average for the gold/silver ratio is under 50, but it has...

The High Stakes of Silver: A Billy the Kid Poker Parable

(Jon Forrest Little, Money Metals News Service) An old Sunday school story may be the best metaphor for the risks of today's high paper-to-silver ratio. Let me take you back to the Old West, New Mexico specifically. There are over 15,000 abandoned mining sites in New Mexico, a state which boasts...

Founding Father Edmund Randolph vs. The Federal Reserve

(Mike Maharrey, Money Metals News Service) After Congress passed a bill to establish the first national bank -- a forerunner of the modern Federal Reserve -- President George Washington asked Attorney General Edmund Randolph to prepare an opinion on the bill’s constitutionality. Randolph came down firmly against the measure,...
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