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Commentaries

Mayday on May Day

Gold sits outside the network of liabilities that define modern finance, offering a reserve asset not subject to the same vulnerabilities as currencies or sovereign debt.

$350 Billion Isn’t Chump Change

The Fed’s responsibility for price stability seems a laughable presumption. A little bit of inflation can go a long way when applied conscientiously.

WWWD?

Warsh's first meeting as Chair will be June 16 – 17. It is widely expected that he will cut interest rates at that point. I think you could easily get more than three dissents on that, as the macro environment is just not conducive to rate cuts, no matter what President Trump says.

Russia Selling Gold to Fill Budget Hole

When the war began, Russia held about half of its reserves in dollar, euro, and pound sterling assets. The other half was in yuan and gold, which remain accessible.

Americans Are Feeling Intense Pressure from Inflation and a Deep Loss of Control over their Own Lives

Ninety percent of Americans feel the nation is in an affordability crisis—the new catch phrase for endless above-target inflation, which has become the new norm.

Washington’s Gold and Silver Tax Shows Why Incentives Matter

Lawmakers repealed a long-standing sales tax exemption on gold and silver, expecting to generate new revenue. Instead, the policy has driven businesses out of the state...

Money Metals and Sound Money Defense League Announce International Sound Money Scholarship

These organizations originally set aside 100 ounces of physical gold to fund scholarships, at the time valued around $120,000...that same 100 ounces is worth more than $460,000 today.

Fed Stands Pat But There Was Dissension in the Ranks

While the Fed held rates steady as expected, the vote was far from unanimous. Four FOMC members voted against the move/statement. The last time four members dissented was in 1992.

Deutsche Bank Just Said Gold Is Going To $8,000

The bank outlined a scenario in which gold could reach $8,000 over the next five years. Not as a simple price forecast, but as a reflection of deeper shifts in the global financial system.

Farmers Frazzled to the Bone

You can see why, with fuel prices being scorching hot, those rising fertilizer costs are causing some farmers to decide to plant less and save on fuel...

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