You know what Your Survival Guy is buying right now: Beer, bullets, and Burgundy. Because each one is, among other things, a perfect sweetener to your cash. Yes, cash is king, and, with one of the three Bs above added to the mix, you’re immediately elevated to royal status. But for today, let’s talk about your cash. How much should you have on hand? I want you to think about your cash in three ways: You have your emergency stash on hand that you hope to never use. You have cash in your investment portfolio as part of your strategy. To buy stocks when others are selling, for … [Read more...]
Gold, Silver, and Currencies
Young Research & Publishing has been providing research and insights on precious metals and currency markets to institutional investors, corporate financial officers, business owners, and individual investors for over four decades. Richard C. Young started Young Research & Publishing in the 70s to publish the authoritative Young's World Money Forecast, a 50-page monthly investment report on the precious metals and currency markets. Today, our research on gold, silver, and currencies is geared toward investors in or nearing retirement who are looking to preserve and protect wealth.
HACK HEIST! Crypto Owners Hit With One of the Biggest Thefts EVER!
Owners of cryptocurrency have been frequent targets of cyber theft. Some of the most infamous cases of crypto-looting were Coincheck in 2018 and Mt. Gox in 2014. Now, a new heist can be added to the list. Hackers have stolen over $600 million in crypto from the Poly Network. Anna Hirtenstein reports for The Wall Street Journal: Hackers stole cryptocurrencies worth more than $600 million from Poly Network, a decentralized finance, or DeFi, platform, in one of the largest crypto heists of recent years. Poly Network, which uses digital assets for lending and other financial transactions, … [Read more...]
PROJECT HAMILTON: The Fed’s Little-Known Plan for Digitizing the Dollar
The Fed, along with researchers at MIT, is attempting to understand what it would take to create a US-backed digital currency. Gillian Tett reports in the Financial Times: Last year the Boston Fed asked researchers at MIT to embark on a project to build and test “with boldness [and] ingenuity” the computing systems needed to support a US-backed digital currency. That is scheduled to deliver two policy papers next month: one covering the CBDC coding challenges; the second on economic and design choices, such as what putative digital dollars might mean for commercial banks. To … [Read more...]
The Biden Administration is Coming for Crypto Freedom
The Biden administration, led by SEC Chairman Gary Gensler, and cheered on by progressives in the Senate like Liz Warren, are beginning an assault of crypto-currency freedom. The Wall Street Journal's Dave Michaels and Alexander Osipovich report: Securities and Exchange Commission Chairman Gary Gensler this week declared war on what he called the Wild West of crypto trading, promising a vigorous attack on fraud and misconduct. But progress is likely to be more piecemeal and incremental than wholesale and sudden. Mr. Gensler outlined his desire to regulate digital assets such as bitcoin and … [Read more...]
Famed Investor Says Inflation Will Be Long Term
Famed investor Mohamed El-Erian, who has correctly called some of the most pivotal moments in recent market history, is saying he is very confident that current inflation will not be transitory. Bloomberg reports: What bond-market guru Mohammed El-Erian said Friday was enough to make bond investors listen like they’re in an old E.F. Hutton commercial. “Inflation is not going to be transitory,” the chief economic adviser at Allianz SE said in an interview on Bloomberg TV’s The Open show. “I’ve been pretty certain in my mind about three prior calls. This is the fourth one.” El-Erian … [Read more...]
Crypto Trading Platform Pure Digital Gets Major Backing
BNY Mellon follows State Street in backing Pure Digital, a cryptocurrency exchange trading platform. Eva Szalay reports for the Financial Times: Two of the world’s largest custody banks have publicly backed cryptocurrency trading platform Pure Digital, in a move that points to growing demand from traditional asset managers for bitcoin and other digital tokens. Bank of New York Mellon has joined the consortium of six banks behind the launch of London-based Pure Digital, three months after State Street became the first to announce its support for the planned exchange. The step suggested … [Read more...]
Central Banks Pick Up Fight Against Crypto
Here comes the mainstream economics establishment (late to the party as always) trying to kill crypto before it gains too much acceptance and risks replacing fiat money. The Bank for International Settlements (BIS) is out with a report trashing crypto. According to the BIS, Bitcoin has no redeeming qualities. We can think of at least one. In contrast to the U.S. dollar, which can be printed and debased at will, there is a fixed supply of Bitcoin (or there will be). The U.S. dollar has lost over 80% of its purchasing power over the last 50 years. That has everything to do with an … [Read more...]
If This Man Thinks Inflation is Back, Worry
You have been telling me about the inflation you're seeing in your life. It's not good. Inflation can throw all the calculations of a well-planned retirement into chaos. Even people who are still working need to readjust in the face of higher prices. When those old dollars you saved after working hard aren't worth as much as you'd thought they'd be, life gets trickier. Now, Roger Bootle, the man who officially declared inflation dead in a 1996 book title The Death of Inflation: Surviving and Thriving in the Zero Era (no relation to my monthly Survive & Thrive newsletter, which you can … [Read more...]
Inflation and Destruction of the U.S. Dollar University
Biden's backdoor student loan forgiveness is as clear as day even though headlines read otherwise. With inflation running hot, team Biden is actually thinking about forgiving student debt by destroying the dollar. When you run out seven percent inflation (not impossible) for ten years, debt is half of what it was. Coincidence? Hardly. While Biden ratchets up inflation to pacify the radical progressives and students who put him in office, the American middle class will suffer. Kristin Tate writes in The Hill: The sharpest tax President Biden is levying upon Americans is one that was … [Read more...]
Boom! Bitcoin, Cryptos, Value, You, & Big Money
You’re asking me what I think of bitcoin and cryptocurrencies. I’m telling you, I love the idea of blockchain. But what about value? That’s more a function of what someone’s willing to pay. Not me, of course, but it’s somewhat irrelevant. How big can cryptocurrencies get? I don’t know. Big, I guess. But I don’t need to be the first one at the party. I certainly won’t be the last, or the last one to leave. Let this play out. Remember the Gold Rush? A lot of money was made investing in the rush itself and not just the yellow metal. I like the idea of utilizing the benefits of the new. In … [Read more...]
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