February 25, 2024

Here are the latest news items and commentary on current economics news, market trends, stocks, investing opportunities, and the precious metals markets. In this column, JWR also covers hedges, derivatives, and various obscura. This column emphasizes JWR’s “tangibles heavy” investing strategy and contrarian perspective. Today, we look at estate planning for firearms collectors.  (See the Tangibles Investing section.)

Precious Metals:

Will 2024 be the year for precious metals?

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At Gold-Eagle.com: Gold: We Conservatively Forecast $2,375 for 2024’s High.

Economy & Finance:

I found his piece at Wolf Street linked over at theWhatfinger.com news aggregation site: Stock Markets Years & Decades after Huge Bubbles Imploded: China, Hong Kong, Japan, UK, France, Germany, Italy, and Spain.

Here is a great quote from the article:

“First a ground rule here. Stock markets are valued in local currency. When that currency’s purchasing power plunges due to inflation year after year for decades, then stock market indices are a reflection of inflation more than of corporate performance. The 1,700% spike in Argentina’s Merval Index in three years, from about 51,000 in January 2021 to 930,000 now is a sign of the collapsing peso, and not of corporate performance.”

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Reader H.L. sent us this: New year sparks wage hikes in 22 states, boosting income for 9.9 million workers. JWR’s Comment: These wage increases are not keeping up with currency inflation.

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Reader C.S. sent this news link from the UK:  ‘I was two feet away!’ Panicked shoppers raise alarm over tap-to-pay checkouts after they were charged for purchases while their credit cards were still in their wallets – with one woman billed THREE times.

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Charles Hugh Smith: Rome Was Eternal, Until It Wasn’t: Imperial Analogs of Decay.

Derivatives:

Three Wall Street Mega Banks Hold $157.3 Trillion in Derivatives – That’s $56.7 Trillion More than the Entire World’s GDP Last Year.

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Video: Warren Buffett & Charlie Munger: Financial Weapons of Mass Destruction (2007)

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JPMorgan Expects Stocks Volatility to Climb in 2024.

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Deloitte: 2024 banking and capital markets outlook.

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​​​​​​​Credit derivatives house of the year: JP Morgan.

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Global banks face negative outlook, property stress in 2024 – Moody’s.

Forex & Cryptos:

Yale Economist Bob Schiller Foresees Potential US Dollar Cataclysm Amid Foreign Asset Seizures.

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At Currency Thoughts: Yearend.

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Second Case against FTX CEO Sam Bankman-Fried Dropped by Biden’s DOJ.

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Cathie Wood’s ARK Snaps Up $100 Million In Bitcoin Futures ETF.

Tangibles Investing:

I had a consulting client who is in his late 50s ask me about estate planning — specifically how to plan on distributing his large gun collection, when he passes away. My advice:  1.) Leave the combinations/keys to your vaults where your spouse and/or the executor of your will or trustee can find them.  2.) Create a firearms trust, with a “Separate Writing”, specifically listing the guns in your collection. This is the ideal way to structure a gun trust, since that Separate Writing can be replaced frequently as your collection changes or as gun laws change, without having to involve an attorney to update the trust, itself. 3.) In that Separate Writing, designate specific gun bequests that you have in mind for family members and friends, and 4.) Designate a trustworthy friend who has a FFL as well as an alternate FFL, to handle selling off the portions of your collection that are not desired by your spouse or that are not listed as bequests in the Separate Writing. Offer that FFL at least 10% of the proceeds, for his time and trouble, with the remainder to be handed in cash to your designated heir(s).

Note: Folks with very large collections or very valuable collections should make arrangements in advance with one of the country’s large auction houses, such as Morphy’s in Pennsylvania, or Rock Island Auctions (RIA), in Texas. If your collection is mostly pre-1899 antique guns, then I can handle selling the antiques, as consignments through my Elk Creek Company side business.

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Palmetto State Armory (one of our affiliate advertisers) has some great specials in their “Daily Deals” this week.

Provisos:

SurvivalBlog and its Editors are not paid investment counselors or advisers. Please see our Provisos page for our detailed disclaimers.

News Tips:

Please send your economics and investing news tips to JWR. (Either via e-mail or via our Contact form.) These are often especially relevant because they come from folks who closely watch specific markets. If you spot any news that would be of interest to SurvivalBlog readers, then please send it in. News items from local news outlets that are missed by the news wire services are especially appreciated. Thanks!