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Palladium and Rhodium on Fire, Is Platinum Next?

Platinum was once the most precious of metals. For decades, it traded at a premium to gold. The other platinum group metals – palladium and rhodium – barely registered on investors’ radar screens. Platinum lost its crown to gold in 2015. It was overtaken by the other PGM metals in recent weeks. Given that platinum, palladium, and rhodium demand is largely driven by automobile manufacturing and the production of catalytic converters, one of these things is likely true; platinum is currently undervalued, or the other two have gotten ahead of themselves. 1 oz rhodium bars run about $ 1,455 each. […]

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Red Flag Warning: These California Wildfires Are ‘Among The Most Destructive Fire Events In US History’ And They Are About To Get Even Worse

The wildfires that are roaring through northern California are already “among the most destructive fire events in U.S. history”, and by the time it is all said and done this could be the worst wildfire season in the history of the state.  So far, fires have scorched more than 250 square miles, and more than 3,500 homes and businesses have already been destroyed.  The official death toll has risen to 21, but that is expected to rise dramatically because over 600 missing persons reports have been filed with authorities.  The worst damage has been done in Napa and Sonoma counties, […]

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Hillary Almost Proposed ‘A Universal Basic Income’ In 2016, And The Idea Is Catching Fire Among Grassroots Democrats

Should you get free money from the U.S. government every month simply for being alive?  That may sound like a crazy idea to many of us, but the truth is that this will likely be one of the biggest political issues in the 2020 presidential election.  At this point, 40 percent of all Americans already “prefer socialism to capitalism”, and the concept of a “universal basic income” is starting to catch fire among grassroots Democrats.  Many liberals are convinced that the time has come to fight for the right to “a minimum standard of living”, and one study by a […]

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European Indices Fire Warnings

Most people watch the FTSE 100, the leading index in the UK, and the German DAX. The former was the first major index in Europe to make a new all-time high as investors rewarded it for Brexit instead of punishing it, counter to expectations. The latter is finally within spitting distance of making a new high. It just needs to rally another 3%. The problem is, the UK and Germany are not Europe. They’re not even representative of the situation on the continent. Just look at this chart, of the Stoxx 50. Think of it as the Dow of Europe. […]

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Welcome To Hell: The Giant Fort McMurray Fire Is The Worst Blaze In Canadian History

The gigantic wildfire that has forced the evacuation of the entire city of Fort McMurray in northern Alberta has been nicknamed “the Beast“, and mainstream news reports are telling us that it is now approximately 25 percent larger than New York City.  88,000 people have already been forced out of their homes, at least 1,600 buildings have been destroyed, and smoke from the fire has been spotted as far away as Iowa.  To say that this is a “disaster” is a massive understatement.  Northern Alberta is “tinder dry” right now, and authorities say that high winds could result in the […]

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Violent Shaking Along The Ring Of Fire Continues A Progression Of Disasters That Began In September

Have you noticed that seismic activity along the Ring of Fire appears to be dramatically increasing?  According to Volcano Discovery, 39 volcanoes around the world have recently erupted, and 32 of them are associated with the Ring of Fire.  This includes Mt. Popocatepetl which sits only about 50 miles away from Mexico City’s 18 million inhabitants.  If you are not familiar with the Ring of Fire, it is an area roughly shaped like a horseshoe that runs along the outer perimeter of the Pacific Ocean.  Approximately 90 percent of all earthquakes and approximately 75 percent of all volcanic eruptions occur […]

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40 Volcanoes Are Erupting Right Now, And 34 Of Them Are Along The Ring Of Fire

You may not have noticed, but our planet is becoming increasingly unstable.  According to Volcano Discovery, 40 volcanoes around the globe are erupting right now, and only 6 of them are not along the Ring of Fire.  If that sounds like a very high number to you, that is because it is a very high number.  As I have written about previously, there were a total of 3,542 volcanic eruptions during the entire 20th century.  When you divide that number by 100, that gives you an average of about 35 volcanic eruptions per year.  So the number of volcanoes that […]

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Central bank lending and the Great Fire of London

My Forbes post criticising Senator Elizabeth Warren’s attempt to restrict Fed liquidity in a crisis has caused something of a storm. It seems that people can’t distinguish between providing unlimited liquidity to the financial system and providing unlimited government funding to banks. The first of these is essential. The second is not. I do not, and never have, supported the second of these. Indeed I was one of the voices soon after the crisis that called for banks to be allowed to fail. But restricting central bank liquidity in a crisis is terribly dangerous. Consider a fire in a closely-built […]

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In Every City In America There Are People Ready To Riot, Loot And Set Things On Fire

The city of Baltimore has been transformed into an “absolute war zone“, and the governor of Maryland has declared a state of emergency as the rioting in “Charm City” continues to escalate.  The funeral for Freddie Gray has unleashed a firestorm of violence, and none of it is going to do anyone any good.  To their credit, some of the leaders of the African-American community are standing up and loudly condemning the violence.  They know that smashing cars, throwing rocks at police and looting stores is not going to solve anything.  But just like we saw in Ferguson, there are […]

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