Friday, July 18, 2025

FINANCE

Federal Agencies Disobey Order to Report Their Accomplishments

(Headline USA) Hundreds of thousands of federal workers have been given little more than 48 hours to explain what they accomplished over the last week, but many of them have signaled that they will not follow the order from billionaire Elon Musk, who’s speeding up his drive to slash the...

Trump to Eliminate Maine’s Federal Funding if Gov. Mills Continues Allowing Boys to Play Girls’ Sports

(Headline USA) President Donald Trump had harsh words for Maine's Democratic governor during a meeting of governors at the White House on Friday, with Gov. Janet Mills telling the Republican president, “We'll see you in court,” over his push to deny federal funding to the state because it continues to...

Open Letter to President Donald J. Trump: Don’t Be Fooled by the Fort Knox “Auditors”

(Jan Nieuwenhuijs, Money Metals News Service) Dear Mr. President, Recently you have expressed an intention to do an audit of the gold at Fort Knox and presumably also the other vaults where the U.S. monetary gold is stored. If you proceed with this endeavor, you will be misleadingly told by the U.S. Treasury,...

Undoing DOGE: GOP Congressional Budget Plan Would Swell Deficits

(Mike Maharrey, Money Metals News Service) With all the attention focused on the wasteful spending being unearthed by DOGE and talk of “rebate” checks, you might think that the Trump administration is finally getting the federal government's reckless borrowing and spending under control. But if we turn our attention...

U.S. Fiat Money: A Worthless Find for Future Archaeologists

(Mike Maharrey, Money Metals News Service) If archaeologists 2,000 years from now find a jar of U.S. quarters minted in 2025, how excited would they be? I'm sure they would find it interesting from a historical perspective. But how much would those quarters really be worth? I got to thinking about...

Pentagon Budget Cuts? Not So Fast!

(Dave DeCamp, Antiwar.com) Acting Deputy Secretary of Defense Robert G. Salesses said in a statement on Wednesday night that Secretary of Defense Pete Hegseth has ordered a review of Pentagon spending to realign spending to fund priorities of the Trump administration. The statement from Salesses came after a report from The Washington Post said that...

Trump Purges 6,700 IRS Agents Biden Unleashed on Americans

(Luis Cornelio, Headline USA) Time to celebrate—thousands of Biden-era IRS workers lost their jobs on Thursday, weeks before they could target and harass Americans on Tax Day.  President Donald Trump authorized the firing of between 6,700 and 7,000 IRS employees, highlighting the seriousness of his pledge to slash the federal bureaucracy.  The...

Here’s What to Watch in Gold Right Now…

(Jesse Colombo, Money Metals News Service) Gold has momentarily paused just below $3,000, catching its breath while building momentum for its next move. With energy accumulating, a breakout above $3,000 could be just around the corner. Gold has been on an impressive run lately, making life easy for us gold...

Chinese Gold Market Continues to Show Improvement

(Mike Maharrey, Money Metals News Service) Gold demand in China continued to show signs of growth last month despite the relentless climb in prices. China ranks as the world's largest gold market. As Jesse Colombo reported, aggressive Chinese futures traders on the Shanghai Futures Exchange (SHFE) helped drive last year's gold bull...

U.S. Gold Jewelry Demand Surprisingly Strong Despite Record Gold Prices

(Mike Maharrey, Money Metals News Service) Gold had quite a run in 2024, hitting record highs 40 times. That momentum carried over into 2025, with new record highs above $2,900 an ounce. One might expect these higher prices to put a drag on demand for gold jewelry, but surprisingly, the impact has been...

Desperation in the Global Gold Market

(Brien Lundin, Money Metals News Service) Gold continues to explode higher as fractures spread in the global gold market. I’ve been reporting on the extraordinary gold flows of recent weeks, which have been driving the price of gold to record levels. Those mysterious flows, generally blamed on concerns over potential U.S. tariffs...

Inflation, the Federal Reserve, and the Death of the Penny

(Money Metals News Service) In the latest episode of the Money Metals Midweek Memo, host Mike Maharrey dives deep into the Federal Reserve’s ever-changing stance on inflation, the reality behind rising consumer prices, and a seemingly unrelated yet important development—the end of the U.S. penny. Through sharp analysis and historical comparisons,...
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