Some new and proposed taxes. The collapse of office real estate is approaching.

These are the latest news and comments on the current economic situation, market trends, stocks, investment opportunities, and the precious metals market. In this column, JWR also examines hedges, derivatives, and various aspects. Special attention is given to JWR's investment strategy, which is based on physical assets and contrarian views. Today, we will look at some new and proposed taxes. (See the "Taxes" section).

Precious metals:

This week, gold and silver prices in the local and futures markets continued to remain at a high level. Here’s a snapshot of the local market as of Thursday evening (March 28, 2024):

• Gold: $2,247.30 per troy ounce - an increase of $42.00 (1.88%) for the day. This is yet another "historical high."
• Silver: $25.18 per troy ounce - an increase of $0.34 (1.37%) for the day.
• Platinum: $927.90 per troy ounce - an increase of $13.20 (1.44%) for the day.
• Palladium: $1,051.50 per troy ounce - an increase of $31.50 (3.17%) for the day.

It is obvious that platinum and silver are currently undervalued. I believe that the price of platinum will catch up in the next few weeks. Silver could reach $40 an ounce or even higher. Think about it! The local market is currently at an extremely high silver-to-gold ratio of 89.24:1. If gold remains stable, a modest return to a more realistic ratio of 75:1 would bring the price of silver to $29.96 an ounce. An extremely optimistic silver-to-gold ratio of 40:1 would lead to a price of $56.18 per troy ounce of silver. I should also note that if the platinum-to-gold ratio returns to 2:1, it would bring platinum to a price of $1,123.65 per troy ounce. This is quite possible. And remember my words: during a wartime economy, the platinum-to-gold ratio is likely to reverse to 1:2. (read: platinum at $4,400+!) When the cruise missiles start flying, it will be too late. Order your platinum now. A distinctly bullish market is already in the air! - JWR

Here is an article by Jesse Colombo published in Forbes:

“Here’s what you need to know about the long-term bull market for gold.” (Full report: Jesse Colombo has a contractual relationship with BullionStar, which is an advertiser for SurvivalBlog).

Reader K. wrote:

"There is a wonderful interview with Andy Schechtman that is worth watching from start to finish. It's long, but every second is worth it. We sped it up in the YouTube settings - as usual - to get through it all.

The detective finds the largest gold nugget ever discovered in England.

Economics and finance:

Several readers reported on this news: "Swamp Wins: Senate Approves $1.2 Trillion Spending Bill, Narrowly Averting Gov't Shutdown".

Reader H.L. sent us the following information:

“Salaries in the US are falling at a 'rapid pace,' according to Indeed.”

From reader C.B:

Texas is pulling $8.5 billion from BlackRock. This is a significant blow to the ESG movement.

On the news aggregation site Whatfinger.com:

The Commercial Bank of Ethiopia allows clients to withdraw millions. Millions of elderly people who are in debt from student loans risk losing their social security, warn Biden's lawmakers.

Taxes:

Reader C.B. sent us the following news from Newsweek: "Proposed 'rain tax' sparks online outrage." The article begins with the words: "The idea of the Toronto municipal government to introduce a new tax on homeowners, which critics have dubbed the 'rain tax,' has provoked outrage and criticism from many, including Donald Trump Jr., the son of the former U.S. president. The proposed 'stormwater tax' would charge homeowners for the impact their property has on the drainage of Toronto's stormwater system, in order to encourage people to maintain lawns and plants on their property rather than paving their land with concrete. The fee would be based on the area of hard surfaces on their property, including roofs, asphalt driveways, parking spaces, and concrete landscaping, according to Toronto city officials.

Millions of new tax collections could hit Vermont.

Biden's budget plan will lead to a tax increase in the U.S. of $4.951 trillion over the next decade, the Treasury Department reported.

A bit of common sense in Iowa:

The proposed amendment to the Constitution requires a supermajority for tax increases.

Indiana will increase gasoline taxes in April.

The Maryland House of Delegates has passed a budget bill that includes tax and fee increases.

Observation of inflation/deflation:

According to Zero Hedge: Easing under persistent inflation could exacerbate the risk of stagnation.

Another piece of news from H.L.:

Dollar Tree is raising some prices to $7 as Americans with six-figure incomes flock to discount stores.

The Federal Reserve System predicts an increase in interest rates and inflation levels for a longer period of time.

Do you need a gallon of milk?

As a result, more and more Americans are seeking loans for everyday needs in Joe Biden's America.

Forex and cryptocurrencies:

On Currency Thoughts:

The Japanese Ministry of Finance is threatening to intervene in the yen.

FTX founder Sam Bankman-Fried has been sentenced to 25 years in prison for fraud.

The current CEO of FTX claims that Sam Bankman-Fried had no regrets.

On Tuesday, it was reported:

The opinion on Bitcoin is returning to extreme greed as it surpasses the $71,000 mark.

Investments in tangible assets:

How it all started... How it continues now: home sales have decreased, and housing prices and mortgage rates have risen since Biden took office.

Sales of new homes in the U.S. unexpectedly fell in February due to a drop in prices.

The collapse of office real estate is approaching, and it will be worse than the decline during the global financial crisis, says a Fitch report.

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Provisos: SurvivalBlog and its editors are not paid investment consultants or advisors. Please refer to our Provisos page for detailed information about our disclaimers. News and tips: Please send your news about the economy and investments to JWR (via email or through the contact form). They are often particularly relevant as they come from people who closely monitor specific markets. If you notice any news that would be of interest to SurvivalBlog readers, please let us know. News from local news sources that do not make it to news agencies is especially appreciated. Thank you!