Precious metals news

The latest index reading came in at 22.2, up from 20.3 the previous week.

Curious things are happening on its balance sheet.

The Federal Reserve admits that it doesn’t understand how inflation works, even though that’s it’s No. 1 job, writes Caroline Baum.

John Stepek looks back at Florida’s property boom of the 1920s – and the inevitable crash that followed.

The visualization uses data from the U.S. Census for household income and Zillow for median home listing price, while calculating mortgage payments based on a standard 30-year term.

The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s precious metals news coupled with thoughtful analysis. You can subscribe to the podcast on iTunes.

How would you celebrate the birthday of a government building?
Maybe send out a press release? Perhaps hold a little assembly and let some politician ramble for a while about how great the building is? Maybe host an open house for the public? Or here's an idea. Just ignore it. After all, it's a government building. Who really wants to celebrate that?
Well in India, they go for a little more swanky soirée when it comes time to celebrate their government buildings. The Karnataka Assembly building will turn 60 this month and the state assembly secretariat proposed a lavish 2-day festival complete with a gift of gold biscuits for each lawmaker.

Last week, we asked an important question about Trump's tax reform plan: Can it deliver?
Despite rampant optimism about tax reform, there are a number of problems. In the first place, it remains uncertain whether or not Congress can even get anything done. Second, as Peter Schiff pointed out, the plan as presented won't likely create the economic growth it promises.
Peter focused on the fact that the plan isn't truly reform. It's tax cuts masquerading as reform. Then there is the issue that it promises to decrease revenue without actually cutting spending and shrinking the size of government. There is strong evidence showing high debt levels retard economic growth.
In a recent article published on the Mises Wire, economist Frank Shostak explains precisely why cutting taxes without accompanying decreases in government spending won't spur economic growth over the long-term.

As people around the world move into cities and look for housing, one thing is clear: Most will have a hard time paying for it.

The breakdown of the monthly resale volume leaves no doubt as to what is taking place in the market. The volume of sales at the lower ends is down

Deficit widened to $665.7 billion in the 2017 fiscal year. Mnuchin, Mulvaney blamed weaker receipts on ‘sub-par’ growth

One has to wonder if China's Yuan for Oil convertible to Gold will eventually just be a Yuan for Gold program

Moody's issued a blunt warning Thusday to investors that Hartford will likely default on its debt by early November.

As tensions escalate in Spain, Catalan Separatists are potentially about to do some real damage & hit Madrid where it really hurts.

Beijing has outlined plans to become the world’s biggest superpower within the next 30 years.

Zhou Xiaochuan, the governor of the People's Bank (PBOC), spoke of "fierce market reactions" & possibly a Minsky Moment

China’s Belt, Road Initiative (BRI) has an integral gold-based currency component that could change the global balance of power

And this is what the President's nomination means for gold...

With sky high equity valuations, economic uncertainty, plus concerns over interest rates, central bank reactions and debt, the risks are rising.

An endearing quality of a late stage bull market is that it expands the universe of what’s possible.  Somehow, rising stock prices make the impossible, possible.  They also push the limits of the normal into the paranormal. Last week, for instance, there was a Bigfoot sighting near Avocado Lake i