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Wednesday, November 20, 2024

FINANCE

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...

New Hints of Election-Year Market Interventions & Turmoil

(Mike Gleason, Money Metals News Service) After a sluggish January for precious metals, gold and silver markets saw a rally during the first day of February trading, only to see it reverse on Friday, February 2, after a strong U.S. jobs report. Metals and equity markets had turned down on...

Musk Polls Public on Transferring Corporate Registration to Texas

(Headline USA) Elon Musk wants Tesla investors to decide on moving the company's corporate listing to Texas after a Delaware court decided he shouldn't get a multibillion-dollar pay package. https://twitter.com/elonmusk/status/1752491924848820595 The electric car company's CEO said early Thursday that Tesla would get shareholders to vote on whether to switch its corporate...

Will AI Cause Massive Deflation?

(Peter St. Onge, Money Metals News Service) Will we ever get durable deflation again? Or will grandma keep getting sucker punched at the check-out lane? Forever. Last week, I joined Kevin Paffrath – MeetKevin on YouTube – for a wide-ranging interview about the economy and freedom. During our chat, he asked...

MAHARREY: In U.S. Banking System, Where There’s Fire There’s Smoke

(Mike Maharrey, Money Metals News Service) Where there’s fire, there’s smoke. And there is definitely smoke in the U.S. banking system. The mainstream consensus is that the Federal Reserve successfully raised interest rates, slayed the inflation monster, and did it without breaking anything in the economy. Most people seem convinced...

EBay to Pay $59M Settlement for Online Sales of Drug-Making Equipment

(Brett Rowland, The Center Square) EBay Inc. agreed Wednesday to pay $59 million and make changes to its compliance program as part of a settlement with the U.S. Department of Justice that it violated the federal law by selling thousands of pill presses and encapsulating machines through its website. The...

Fed Runs Open Mouth Operations: Rate Cuts Coming! But Not Yet

(Mike Maharrey, Money Metals News Service) The Federal Reserve didn’t do anything at all at the January Federal Open Market Committee (FOMC) meeting. But Jerome Powell aggressively ran “open-mouth operations” trying to dampen market expectations for a rate cut at the March meeting. Nevertheless, one thing is clear: interest rate...

Wray: China Implanting Hacker Malware on 100s of Private Routers

(Headline USA) U.S. officials said Wednesday they disrupted a state-backed Chinese effort to plant malware that could be used to damage civilian infrastructure, as the head of the FBI warned that Beijing was positioning itself to disrupt the daily lives of Americans if the United States and China ever...
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