by John Rubino, John Rubino’s Substack:
Can’t wait for silver ..
One of the tough things about buying gold is the complexity. You have to find a dealer and look up their prices, choose a coin or bar from dozens of options, call in the order, and wire a large amount of money to people you’ve never met. Then comes the stressful wait while your cash is gone but your gold hasn’t yet arrived. To jump through all these hoops, you really, really have to want the stuff.
by Joseph P. Farrell, Giza Death Star:
OK, so here’s my random thought of the day…
There’s a move afoot to prohibit a central bank digital dollar from ever being issued by the Fed – without “authorization” that is – according to this article shared by E.G.(with our thanks):
US lawmakers advance legislation blocking the digital dollar
When I read this article (the first time) I thought, “Well, that’s good, someone out there realizes what Catherine Fitts and many others including yours truly have been warning about: a central bank digital currency is too easy to couple to a social engineering system, and affords no privacy. It’s a sure, certain, and swift route to slavery and feudalism, and it’s nothing but a corporate coupon. It’s a method to prohibit wealth accumulation much less passing it along, because a wholly digital ‘currency’ could be made with an ‘expiration’ date. Use it or loose it.” And so on. Yet, reading it, I had to admit that something about the article gnawed away at me. Something was missing. So I re-read it…
by M.J., Survival Blog:
As an intellectual exercise, I converted the price of some of my recent purchases from U.S. dollars to ounces of silver. I did this out of curiosity to see how well I would do in a precious metals-based economy.
I used the spot price of silver per ounce that was quoted at www.apmex.com on 09-16-2023: $23.31. The other spot prices for that day are as follows:
Gold: $1,937.50 per ounce
Platinum: $945.70 per ounce
Palladium: $1,286.00 per ounce
by Joseph P. Farrell, Giza Death Star:
Regular readers here know that I’m certainly nowhere close to being a master or guru of finance and economics. If I were, I’d be rich, and I’m definitely not rich. And I freely admit, this current system and its woes make no sense to me because… well, because it makes no sense. Bond prices go up, yields go down, inflation goes up, while there are signs of a deflationary future, and there’s more yellin’ from Yellen(whom I’m convinced cannot possibly be as stupid as she acts, because if she is, you might as well make her the “vice president” and put the Ayatollah Kamala in charge of the Fed). We produce … well, pretty much nothing other than “financial instruments” which in turn produce more and more nothing other than financial instruments, and this all means it’s a perfect time for the United Auto Workers to strike so that what few cars we still do produce will not be produced, and we’re told we’re better off under “president” Bai Den Dhzao and his hand-puppet act than before.
by Steve Bonta, The New American:
The House Financial Services Committee has been busy of late. On Wednesday, September 20, no fewer than 11 separate pieces of legislation were passed out of committee, a number of which have very positive ramifications for the cause of liberty.
Perhaps the most important is H.R. 5403, the “CBDC Anti-Surveillance State Act,” which would ban the issuance of central bank digital currencies, or CBDCs, by the Federal Reserve. The bill, offered by Majority Whip Tom Emmer (R-Minn.), “prevents the Federal Reserve from issuing a CBDC directly or indirectly to individuals or maintaining accounts on behalf of individuals” and also “prohibits the Secretary of the Treasury from directing the Board of Governors of the Federal Reserve System to issue a CBDC and clarifies that a CBDC can only be issued pursuant to congressional authorization,” according to a Financial Service Committee press release.
by Martin Armstrong, Armstrong Economics:
You likely have not heard of the Pix system unless you live in Brazil. Pix is an “instant payment ecosystem” launched on November 16, 2020, by Brazil’s central bank (BCB). Pix primarily works through the use of QR codes that users use to access their digital accounts for payments. The pandemic helped push people to digitalized banking, and now the system has surpassed the use of credit and debit cards.
from Peter Schiff:
TRUTH LIVES on at https://sgtreport.tv/
by Peter Schiff, Schiff Gold:
Among the many problems currencies and markets face, there is one which is undocumented: the eurodollar market, which is yet another very large elephant in the room. This article quantifies eurodollars and eurodollar bonds, which are additional to US money supply and credit.
Research by the Bank of International Settlements puts this market at $93 trillion, of which on-balance sheet debt (i.e., customer deposits) of non-US banks is $15 trillion, a sum which should be added to US M2 money supply of $21 trillion for a truer picture of total dollar bank credit. Only a small of this debt is in other currencies.
SGT Report contributor Matt is back to help us break down all the REAL news the mainstream mockingbird whore media sees fit to omit. Thanks for tuning in.
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by Wolf Richter, Wolf Street:
Trillions whooshing by so fast they’re hard to see.
The total US national debt spiked by $1.58 trillion since the debt ceiling was lifted, and by $2.16 trillion from a year ago, to $33.04 trillion, according to the Treasury Department’s figures this afternoon.
A stunning amount of new debt that is getting piled on in a stunningly short amount of time, even as the economy has been growing at decent rates! Congratulations, America 🥂
by Harvey Organ, Harvey Organ Blog:
GOLD CLOSED UP $8.40 TO $1932.00 SILVER CLOSED UP 11 CENTS TO $23.20 //PLATINUM CLOSED UP $26.10 TO $936.65 WHILE PALLADIUM CLOSED DOWN $2.65 TO $1248.45/GOOD GOLD COMMENTARY TODAY FROM MATHEW PIEPENBURG//CHINA EXPERIENCES HUGE OUTFLOWS OF DOLLARS AS ITS ECONOMY IS IMPLODING//ITALY OVERWHELMED WITH MIGRANT INFLUX///IRAN AND USA EXCHANGE PRISONERS IN A RANSOM DEAL//COVID UPDATES/VACCINE UPDATES/DR PAUL ALEXANDER/NEW ADDICTS/EVOL NEWS//UAW STILL FAR APART IN THEIR NEGOTIATIONS WITH THE 3 CAR COMPANIES
by Wolf Richter, Wolf Street:
QT’s impact on the Fed’s liabilities, and the massive movements between them.
The daily measure of Overnight Reverse Repurchase agreements (ON RRPs) at the Fed have plunged to $1.40 trillion as of Friday. This is down by 45%, or by $1.152 trillion, from the one-day-wonder peak on December 31, 2022.
Under these RRPs, the Fed takes in cash and hands out collateral (Treasury securities). RRPs are a liability for the Fed because they’re cash that the Fed owes its counterparties. The counterparties are mostly US money market funds, but also banks, and government-sponsored enterprises (Federal Home Loan Banks, Fannie Mae, Freddie Mac, etc.). These counterparties use ON RRPs to park their extra cash risk-free at the Fed, and earn interest. As of the rate hike in July, the Fed pays them 5.3% in interest.
from Peak Prosperity:
TRUTH LIVES on at https://sgtreport.tv/
