by Jan Nieuwenhuijs
GoldSeek
CPM Group recently released a video showing that gold’s purchasing power declines over time. According to my analysis this is false. Gold’s purchasing power is markedly stable, and outperforms any other currency.
If gold didn’t retain its purchasing power, why would long-term investors and central banks store it in their vaults for decades? Hardly is gold used for industrial applications, so, again, why hold large stocks of gold if it would lose its value over time? The truth is that gold retains its value, and the stability of gold’s purchasing power in the long-term is the main reason to own it.
On August 21, 2020, precious metals consultancy firm CPM Group released a video on Youtube, which shows that in the long-term gold’s value declines. I will not go into every detail of the video, but its core message is that gold’s purchasing power always decreases.
The Trump administration announced on Wednesday that it is going after “lawless cities” that have allowed violent anarchists to loot and riot by preventing them from taking federal funding.
Police departments in multiple cities that have witnessed constant protests and riots failed to respond to whether they were prepared to ensure that their residents can safely vote in person.
Attorney General William Barr said on Wednesday that people who are “trying to change the rules” of voting methodology ahead of November are “playing with fire.”
Social media giant Facebook has announced plans to ban new political ads for the week leading up to Election Day on November 3. Mark Zuckerberg announced the ban along with several other changes because he fears “there could be an increased risk of civil unrest across the country.”
August saw gold bullion breakout above $2,000 to reach a new all-time high before pulling back. Gold bullion1 was up 29.69% YTD through August 31, 2020, and 29.43% YOY. Both silver bullion and gold mining equities reached multi-year highs in August. Gold mining equities (SGDM)2 gained 44.71% YTD, and 41.87% YOY as of August 31. This compares to 9.74% YTD and 21.94% YOY returns for the S&P 500 TR Index.6 Silver bullion7 posted outsized gains in August and was up 57.64% YTD and 53.15% YOY as of August 31.
We are not going to know the winner of the presidential election on the night of November 3rd. Sadly, we almost certainly won’t know the winner the next day either. In fact, it may be many weeks before a winner is formally declared. Laws have been passed all over the country to make voting by mail much easier, and it is being very heavily promoted in many states. It is being projected that at least 83 percent of all U.S. voters will be eligible to vote by mail in November, and that is an astounding number. If all of those people actually did vote by mail, more than 190 million votes would go through our postal system. But of course many people will continue to show up in person and vote the old-fashioned way. We will get the results from those that vote in person on election day very rapidly like we normally do, but it may take a very long time before all of the mail-in votes are tallied. As I will explain in this article, this has the potential to create some enormous problems.
Seasonality will be heavily on bulls’ side ahead of Labor Day weekend, but stocks will be bucking powerful headwinds thereafter, since September is historically Wall Street’s worst month. This September will be particularly interesting if two fledgling trends gain momentum. Specifically, the dollar has turned up from a promising spot, and AAPL for a rare change closed lower on the day. The psychotic spasms that undercut Apple shares apparently were caused by news that euroland’s regulators are taking a close look at the company’s app store. Investors have reason to be fearful, since it is a monopoly business that makes Microsoft’s criminal lockhold on web browsers 25 years ago look like pattycakes.
Paul Krugman, the Nobel prize-winning economist and New York Times columnist, has figured out that the doom and gloom over rampant violence and lawlessness in the largest US city is unfounded hysteria over a “nonexistent crisis.”
With the Dow tumbling 800 points and the NASDAQ plunging nearly 5%, gold and silver prices are seeing volatility as we move into the historically strongest trading month of the year, September.
The Centers for Disease Control and Prevention implemented a temporary eviction moratorium through the end of the year, protecting U.S. renters from losing their homes during the COVID-19 pandemic, the Trump administration announced Tuesday.
When the federal government’s fiscal year ends on the last day of September, America’s national debt will nearly match the size of the nation’s economy for the first time since the end of World War II, according to projections from the Congressional Budget Office (CBO).
I used to love New York City. There was so much to do and see, but if one were from the heartland like me, one could be perfectly content to just walk the streets and look at architecture and people. One might seek out venues one had seen in the movies, such as in Woody Allen’s Manhattan; perhaps Elaine’s. And when one got weary from walking, one could sit down at one of two, count ‘em, two major opera houses. And after a performance one might grab a beer at that joint across the street from the Met and muse about what a wonderful city one was visiting, where the Bronx is up and the Battery’s down. It really was a helluva town.
The Trump administration is pushing governors in every state to expedite permits for distribution sites for COVID-19 vaccines.