Precious metals news

Donald Trump will use his upcoming Saudi Arabia trip to announce one of the largest arms sales deals in US history - somewhere in the neighbouhood of $98bn to $128bn worth of arms. That could add up to $350bn over ten years. 

Factors including increased trading in Japan to debates over the future the bitcoin's underlying technology have boosted the price.

An artwork by Haitian-American painter Jean-Michel Basquiat sold for $110.5 million – a new record for any U.S. artist at auction.

Bills are moving forward in several states that would support gold and silver and ultimately help undermine the Federal Reserves monopoly on money.
Legislation that would eliminate state capital gains taxes on gold and silver specie is sitting on Arizona Gov. Doug Ducey's desk waiting for his action.
Rep. Mark Finchem (R-Tucson) introduced HB2014 earlier this year. The legislation would eliminate state capital gains taxes on income “derived from the exchange of one kind of legal tender for another kind of legal tender.” The bill defines legal tender as “a medium of exchange, including specie, that is authorized by the United States Constitution or Congress for the payment of debts, public charges, taxes and dues.” “Specie” means coins having precious metal content.
In effect, passage into law would “legalize the Constitution” by treating gold and silver specie as money.

Minneapolis Fed President Neel Kashkari said the central bank should keep the bubbles inflated.
OK, he didn't say that exactly. But that was the message reading between the lines of a speech Kaskari delivered this week. Specifically, the Minneapolis Fed president said the Federal Reserve should not raise interest rates in an effort to prevent bubbles.
Given the challenges of identifying bubbles with any confidence and the costs of making a policy mistake, I believe the odds of circumstances ever making sense to use monetary policy to try to slow asset prices down are very low. I won’t say never—but a whole lot of evidence would have to line up just right for it to be the prudent course of action.”
The former Goldman Sachs Group executive was the lone dissenter when the Fed raised interest rates in March.

A “more of the same” financial world suggests silver prices will rise toward $100 in the next few years.

Technical analyst Clive Maund analyzes Wednesday's drop in U.S. stock markets amid concerns over political turmoil in Washington.

If you are paid a gold coin for a day’s labour, you don’t have to trust the person who pays you. You don’t have to wonder if he has the money in his account to cover his check…or what will happen to his money in the future.

The End of Income Taxation on Gold & Silver Is Near:

There was a burst of enthusiasm in capital markets surrounding Donald Trump's election as US President. It was a hope for economic growth, higher paying jobs and undoing President Obama's regulatory overreach.

It’s time to negotiate lower rent. Here’s how to do it.

According to data vendor Attom, there remains 5.5 million homes that are seriously underwater (slightly less than 10%). On the other hand, there 13.7 million homes that are "equity rich" (around 24% of homes). Equity rich is defined as the combined loan amount secured by the property is 50 percent or less than the estimated market…

On September 17, 1787 on the final day of the Constitutional Convention in Philadelphia, Benjamin Franklin was approached by a woman as he walked out of Independence Hall. “Well Doctor, what have we…

Since the great recession which started in 2008, we saw many local municipalities across the country throw up their hands in defeat & file for bankruptcy.

Physical silver demand remained strong this week with investors rushing to lock in prices near recent lows:

Congress is reportedly considering whether to reduce the benefits of contributing to a 401(k) & similar retirement plans. That’s because it wants to reform corporate taxes, cutting the rate from 35% to 15%.

WMPs, has warned "redemptions" of 60 billion yuan, or $8.7 billion, this year & might be unable to meet payouts unless it is able to sell new products.

LIVE: Grilling of Mnuchin - Senate Banking Committee Hearing on Trump Administration's Fiscal Policy 5/18/17 Mnuchin TAX, trump tax reform

This time the cavalry is not coming - at least not unless they see something much larger and maybe not immediately even then

Despite markets that performed well during 2009 2016, state & local government pension systems were still underwater and maybe worse