June 8th, 2023Bloomberg/Shelly Hagan and Matthew Miller/5-31-2023
“Ross Perot Jr., whose family is one of the largest independent property developers in the country, warned of a looming real estate recession if banks don’t start lending again.”
USAGOLD note: As noted this morning, despite warnings from the likes of Ross Perot Jr., a...
Gold-backed funds reported an inflow of gold for the third straight month in May, flipping global ETF demand positive on the year. Globally ETFs added 19 tons of gold to their holdings in May. Gold-back funds held 3,478 tons of metal as of the end of the month. That represents a 6-ton increase on the
The post ETF Gold Holdings Increase...Gold
I warned you. I said when the fake debt ceiling fight ended, the real problems would begin. Well, the debt ceiling fight is over, and here we are. On the first working day after the so-called Fiscal Responsibility Act went into effect, the national debt surged by $359 billion. On June 5, the US Treasury reported
The post National...Gold
The April trade deficit came in at -$74.5B which was the largest trade deficit since October 2022. Figure: 1 Monthly Plot Detail The table below provides detail. Monthly Trade Deficit The increase was driven by a combined drop in Exports with a rise in Imports Specifically, Goods Imports rose $5B or 2% while Exports fell
The post Trade...Gold
With the passage of the Fiscal Responsibility Act of 2023, the fake debt ceiling fight is over. The federal government walked away from the deal with a shiny new credit card that has no limits. And what did we get? Spending “cuts” that actually increase spending and another great big tax increase. Now, you’re...Gold
Most people in the mainstream concede that the economy is heading for a recession, but the consensus seems to be that downturn will be short and shallow. Projections by the World Bank undercut that optimism. According to the World Bank, global growth in 2023 will slow to the lowest level since the 2008 financial crisis.
The post World...
June 7th, 2023MarketsInsider/Zahra Tayeb/6-6-2023
“Hiking interest rates by 50 basis points in July should be an option on the table at the Federal Reserve, even if it pauses its tightening campaign at its meeting this month, according to former Treasury Secretary Larry Summers.”
USAGOLD note: Appears Mr. Summers, still echoing Paul...