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Sunday, April 6, 2025

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2 States Poised to be First Since 1980 to Eliminate Income Tax

(Headline USA) About 45 years have passed since a U.S. state last eliminated its income tax on wages and salaries. But with recent actions in Mississippi and Kentucky, two states now are on a path to do so, if their economies keep growing. The push to zero out the income tax...

A Dollar’s Not Worth Much But It Makes Good Wallpaper

(Mike Maharrey, Money Metals News Service) Is a dollar worthless? No. Well, not quite. Dollars make good wallpaper. If you visit Charleston, S.C., stop by The Griffon - English Style Pub. You’ll find the inside wallpapered with dollar bills. There are dollar bills on the walls. There are dollar bills on...

Central Banks Gobbled Up More Gold in February

(Mike Maharrey, Money Metals News Service) Record prices haven't dulled central banks' appetites for gold. Globally, central banks officially added another net 24 tonnes of gold to their reserves in February, according to the latest data released by the World Gold Council. Poland was the biggest buyer in February, adding...

U.S. Adds 228,000 Jobs in March, Surpassing Expectations

(​Dan McCaleb, The Center Square) The U.S. added 228,000 jobs in March, the U.S. Department of Labor reported Friday, nearly double what was forecast. Employment gains occurred in the health care, transportation, warehousing and retail trade industries, according to the Labor department. The overall gains come despite significant layoffs in the...

Indians Turning to Gold as Stocks Sag

(Mike Maharrey, Money Metals News Service) Indian investors are turning to gold as the domestic stock market tanks. This isn't a surprise, but there is a twist. Indians are increasingly turning to ETFs to gain exposure to the yellow metal. Indians have a long love affair with gold. The country ranks...

Dollar’s Reserve Status Losing Ground to Gold and Other Currencies

(Mike Maharrey, Money Metals News Service) The U.S. dollar's status as the global reserve currency continues to erode, with gold and “non-traditional” reserve currencies gaining ground. According to recently released IMF data, the dollar’s share of global reserve currencies slid further last year. Total holdings of dollar-denominated securities by central banks...

Gold at Record Highs, Silver Lags, and the Future of Sound Money

(Money Metals News Service) In the latest Money Metals Midweek Memo, host Mike Maharrey tackles the most frequently asked questions from investors, precious metals enthusiasts, and citizens concerned about the state of the economy. This episode functions as a deep-dive AMA (Ask Me Anything), unpacking the implications of gold’s historic surge,...

China’s Gold Reserves Going Through the Roof

(Jan Nieuwenhuijs, Money Metals News Service) The People’s Bank of China (PBoC) continues to buy unprecedented amounts of gold as the global financial is deleveraging (i.e. investors exchange credit assets for gold). In 2024, the Chinese central bank covertly bought 570 tonnes, encouraging gold’s ascent in global international reserves by 4%, the...

Moody’s Warns of Deteriorating U.S. Creditworthiness

(Mike Maharrey, Money Metals News Service) Would you loan money to Uncle Sam? That’s becoming a pertinent question as the U.S. government’s fiscal situation continues to deteriorate. The national debt surged over $36 trillion last fall, and despite some cutting by DOGE, there is no sign that the spending is going to...

Should Germany Pull Its Gold Out of the U.S.?

(Mike Maharrey, Money Metals News Service) Can the U.S. be trusted with German gold? That’s a question being asked by some German officials. Germany ranks second in gold reserves behind the U.S. It officially holds 3,352 tonnes of gold with about 1,236 tonnes (37 percent) held in Federal Reserve vaults in...

Swap U.S. Gold Reserves for Bitcoin… Seriously?

(Clint Siegner, Money Metals News Service) Washington D.C. is still a prime breeding ground for bad ideas. One of the dumbest, and more dangerous, is the idea of swapping U.S. gold reserves for Bitcoin. In fairness, we should first mention we are encouraged by the growing acceptance by a handful...

Brits Selling Gold Dental Work to Pay Bills

(Mike Maharrey, Money Metals News Service) Have you ever thought, "I'd give my eye teeth for some money?" Apparently, some people in the United Kingdom have gotten to that level of desperation. According to an article in The Sun, people are selling gold dental work to pay bills. Jon White said the gold...
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