May 30, 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 the continuing bull markets in physical gold and silver.

Precious Metals:

The editors of The New York Times have apparently awakened and are now smelling the coffee: China Is Buying Gold Like There’s No Tomorrow.

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The silver-to-gold ratio is shifting again. As of Wednesday, it took 84.19 ounces of silver to buy one ounce of gold.  That is seriously skewed. Based on current mine production and actual use, the ratio should be closer to 20-to-1. In the long term, that is bound to happen.  So my advice remains:  Buy silver, not gold, if you have the storage space. – JWR

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An interesting piece by Rick Mills: What’s Really Driving The Gold Price Surge?

Economy & Finance:

From CNN: Social Security will not be able to pay full benefits in 2035 if Congress doesn’t act. Medicare has a little more time.

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Some food for thought, over at X/Twitter: The World Economic Forum (WEF) Has One Fear…

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Over at Zero Hedge: Credit Smacks Of Complacency As Spreads Collapse.

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Linked over at the Whatfinger.com news aggregation site: Stephen Moore: Biden’s Economic ‘Malaise’ Is Starting To Resemble Jimmy Carter’s Dismal Economy.

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Gen Z Sinks Deeper Into Debt.

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A video from David Dubyne:  These Charts Show How Big the Banking and Housing Crisis Is.

Commodities:

Gillian spotted this: Copper Touches $10,000 Again as Goldman Sees ‘Stockout’ Risk.

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Ukraine’s grain exports to drop in MY 2024-25 amid lower supply, smaller output estimate.

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This was published in January: From tangible to tradable: How tokenisation could transform the commodities space.

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From OilPrice News: Ukraine and Moldova Poised for Formal EU Accession Talks.

Inflation/Deflation Watch:

Fed chair Jerome Powell: No sign of stagflation in U.S. economy.

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Zimbabwe to Give First Indication of ZiG’s Impact on Inflation in May.

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“Official” figures: South Sudan slips into deflation?

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Turkish Inflation Nears 70% With Peak Likely Around Corner.

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World Economy Looks to Dodge Stagflation Rut as Outlook Perks Up.

Forex & Cryptos:

From RT: BRICS should be ready for dollar collapse – Russian IMF rep.

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Isn’t It Ironic, Don’t You Think? How the US is Losing US$/UST Hegemony.

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Robinhood’s Crypto Unit Receives SEC Wells Notice.

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I missed seeing this when it was posted last July: Twenty-four central banks will have digital currencies by 2030, survey shows.

Tangibles Investing:

At the Bearing Arms website: New ATF Rule Aimed at Private Sales, Not ‘Gun Show Loophole‘.  JWR’s Comment: The window of opportunity will close on May 20th, in 34 states. After that, only builds from 80% frames and pre-1899 antique guns will remain unrestricted, in most states.  So stock up!

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Hagerty: 5 Cars Posting Gains in a Soft Market.

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!