President-elect Donald Trump has sent a firm warning to the BRICS nations, signaling that the United States would impose a 100% tariff on any attempt to introduce a new currency by the group. Trump made his stance clear, stating, “The notion that BRICS countries could move away from the U.S. Dollar without facing consequences is […]
Trump Issues Strong Warning Against BRICS Currency Plans Read More »
In its 10th annual Billionaire Ambitions Report for 2024, UBS highlights significant trends in the investment strategies of the world’s wealthiest individuals. Over the past decade, the total wealth of billionaires has skyrocketed by 121%, growing from $788.9 billion in 2015 to $2.4 trillion in 2024. The number of billionaires has similarly increased from 1,757
Why Billionaires Are Increasing Their Gold Investments Amid Economic Uncertainty Read More »
In recent developments, President-elect Donald Trump has issued a stern warning to the BRICS nations—Brazil, Russia, India, China, and South Africa—threatening to impose 100% tariffs if they proceed with plans to establish a new currency aimed at challenging the U.S. dollar’s global dominance. This move underscores the escalating tensions surrounding the dollar’s supremacy in international
Trump’s Tariff Threats and the Global Economic Response Read More »
China and Japan are ditching US Treasuries like never before. In the third quarter of 2024, Japan sold a staggering $61.9 billion of US government debt—the biggest quarterly sale on record. This came right after they offloaded $40.5 billion in the second quarter. Not to be left out, China dumped $51.3 billion in the same
China and Japan are Duping US Treasuries Read More »
(Kitco News) – Former U.S. Congressman Dr. Ron Paul doubled down on his long-standing call for the abolition of the Federal Reserve, arguing that the institution is unconstitutional, illegal, and detrimental to the U.S. economy, which is already showing significant cracks. In an interview with Kitco News, Paul stressed the urgency of addressing the Fed’s
How concerned should the United States be with the latest developments in the Ukrainian conflict, the Middle East, and the Indo-Pacific? Quite concerned, according to the top U.S. military officer in the Indo-Pacific. Over the past few weeks, we have seen North Korean troops deploying in Russia and Ukraine to support Moscow’s war of aggression in Ukraine.
Global Tensions Soar: U.S. Military on High Alert Amid New Security Risks Read More »
I have seen more than my fair share of financial crises during my time in the U.S. government. I was the assistant secretary of the U.S. Treasury for financial institutions during the 9/11 terrorist attacks and chair of the Federal Deposit Insurance Corp. during the 2007-2008 financial crisis. The U.S. government resorted to deficit-financed spending
U.S. Debt Could Drive the Next Financial Crisis Read More »
The gold market continues to consolidate near its record above $2,750 an ounce. Despite the precious metal’s 33% rally so far this year, one analyst says this is still the calm before the storm, and now is the time for investors to be overweight in commodities, specifically gold. In a recent interview with Kitco News,
Gold Shines as the US Dollar is Being Treated Like Monopoly Money – abrdns Robert Minter Read More »
The current setup on the silver chart is a lot like the start of the silver bull market of the early 2000s. In those days silver was under $5 and considered cheap. The current bottoming pattern from around 2014 to now is very similar to the early 2000s bottoming pattern (see the chart below). I
At These Levels, Buying Silver Is Like Getting It at $5 in 2003 Read More »
What is a level of U.S. debt that financial markets think is too large? The answer is “we have no idea” because it will depend on what is going on around the world and where else investors could park their money, said Maya MacGuineas, the president of the Committee for a Responsible Federal Budget, a
