Economy
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Silver Poised to Play Catch Up to Gold
(Clint Siegner, Money Metals News Service) Gold’s breakout to new all-time nominal highs is making headlines. On Friday, the price settled at just under $2,200/oz, after gaining almost $100/oz for the week. Silver actually outperformed gold on a percentage basis. The white metal gained $1.17/oz, or 5%, as compared to gold’s 4.5% gain. The difference…
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Biden’s Open Border Proves Lucrative for Fake ID Schemes
(Luis Cornelio, Headline USA) The open-border crisis under President Joe Biden has proven lucrative not only for coyotes, human traffickers, and drug dealers but also for gang members funneling fake American identification on the streets of New York City. As reported by the New York Post on Saturday, at least 10 men were seen peddling counterfeit…
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Can You Borrow Your Way to Prosperity? U.S. Consumers Give It a Shot!
(Mike Maharrey, Money Metals News Service) Can you borrow your way to prosperity? American consumers are certainly giving it the old college try. Consumer debt surged once again in January, rising by $19.5 billion, according to the latest data from the Federal Reserve. On an annual basis, consumer debt rose by 4.7 percent to a…
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Investors Don’t Believe the Gold Rally, Prefer General Stocks
(Mike Gleason, Money Metals News Service) This week investors are witnessing a historic move in gold prices. The precious metal finally broke above a longstanding overhead resistance level to reach new all-time highs. For now, the white metals are playing catch-up to gold, and are certainly taking a backseat to the yellow metal, as its…
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MSNBC Panel Mocks Voters Who Care about Illegal Immigration
(Headline USA) An MSNBC panel led by host Rachel Maddow on Tuesday mocked Virginia voters who said their top issue at the polls was immigration. “Look at some of these exit polls. I live in Virginia. Immigration was the No. 1 issue,” said former White House press secretary Jen Psaki, which prompted MSNBC’s Joy Reid to…
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BRICS to Develop Blockchain-Based Payment System to Bypass the Dollar
(Mike Maharrey, Money Metals News Service) In an interview on the Russian news agency TASS, Kremlin aide Yury Ushakov announced that the BRICS nations plan to develop a new payment system based on the blockchain. This sets the stage for further de-dollarization and could further undermine the status of the dollar as the global reserve…
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Rubio Re-Ups Call for Permanent Daylight Saving Time
(Some lawmakers are once again calling on their colleagues to make Daylight Saving Time permanent. Ahead of the switch to Daylight Saving Time this weekend, Sen. Marco Rubio, R-Fla., highlighted the importance of the Sunshine Protection Act, which would make Daylight Saving Time permanent. “We’re ‘springing forward’ but should have never ‘fallen back,’ ” Rubio said…
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Report: Egyptians Trading in Gold amidst Fiat Currency Collapse
(Ken Silva, Headline USA) In what could be a harbinger of things to come for the U.S., the New York Times reported this week that Egyptians are flocking to gold as the country’s fiat currency, the pound, collapses. The March 5 Times article reported that demand for gold in Egypt has more than doubled, and…
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Fed Admits It Was Wrong – Kind Of
(Thomas L. Hogan, Money Metals News Service) During the pandemic recovery, inflation reached the highest rates in 40 years, largely driven by the Federal Reserve’s excessive monetary policy. The Fed got “behind the curve” by not raising its interest rate target fast enough, even once it became apparent its own policy was to blame. While…
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Is the U.S. Playing With Fire Using the Dollar as a Foreign Policy Weapon?
(Mike Maharrey, Money Metals News Service) The United States has weaponized the dollar, leveraging it to achieve foreign policy objectives. But is the U.S. playing with fire? Is it setting itself up for significant blowback? In this episode of the Money Metals’ Midweek Memo, host Mike Maharrey explains how the U.S. has turned the dollar…
