In terms of market capitalization, Bitcoin has now overtaken Tesla. With $1.255 trillion, Bitcoin is now the 8th largest asset. Tesla recently took a hit after Tesla founder Elon Musk launched a poll on whether to sell $21 billion worth of Tesla stock, which is about 10% of his holdings. The majority voted for a …
Gold contracts fell again yesterday evening (November 2). This is because the appreciation of the dollar is putting pressure on the gold price. Investors keep an eye on the monetary policy meetings of the Federal Reserve (Fed) and the Bank of England (BoE) this week. Gold contracts were down $6.4, or 0.36%, at $1,789.4 per …
Gold futures rose last night (November 1) as a result of the devaluation of the dollar, and the dwindling purchasing power. Gold futures were up $11.9, or 0.67%, at $1,795.8 per ounce. Silver futures were up 12.4 cents, or 0.52 percent, at $24.073 an ounce. The platinum contracts were up $46.6, or 4.57%, at $1,067.3 …
“It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.” – Henry Ford What does Henry Ford mean by that? Of course, he is referring to the central banking system that is slowly destroying …
Energy Another positive week for the oil bulls more precisely the 9th week in a row in which oil prices could rise. WTI crude oil was able to gain 1.8% and closed on Friday at $83.98 per barrel. Brent crude oil was able to gain 0.79% and closed at $85.72 per barrel. On Tuesday, it …
Imagine a world where fiat currency does not yet exist. Now your government has decided to introduce dollars as a medium of exchange. You are the first to go to a bank and borrow 1 dollar. This dollar you have to pay back with interest, let’s say the interest on 1 dollar is 1 dollar …
Energy Crude oil rose for the 8th week in a row and is getting close to Wall Street’s announced target of $90 by year-end. Demand for crude oil continues to rise due to the recovery from the COVID 19 pandemic, but supply remains tight. After OPEC+ turned down the U.S. government on the issue of …
Never trust a statistic you haven’t fudged yourself. Unsurprisingly, inflation in the U.S. continues to rise, which by now even the last citizen at the supermarket shelf should have noticed. Official CPI figures say inflation has risen to 5.4% YoY in September from 5.3 in the previous month. Some numbers from the CPI: Meat, poultry, …
Gold futures fell 0.14% to $1,754.95 an ounce at 5 p.m. after hitting a two-week high. The Federal Reserve (Fed) is expected to start reducing assets in line with the planned timeframe, even though the latest U.S. employment data came in lower than expected. The U.S. labor market data released last week was weak, Non-Farm …
Energy The energy sector is probably one of the most exciting sectors at the moment, with rising prices for crude oil, natural gas, and the unloved thermal coal.Crude oil has closed the 7th week in a row with a plus and one must add here that further price increases are more than likely. WTI crude …