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5.23.19 - Stable Money Leads To Prosperity

Gold last traded at $1,285 an ounce. Silver at $14.62 an ounce.

NEWS SUMMARY: Precious metal prices rose sharply Thursday on safe-haven buying and a weaker dollar. U.S. stocks fell sharply as U.S.-China trade worries persisted with more companies suspending business with Chinese telecom giant Huawei.

 

 

 

MMT's Irresistible Allure

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AnswersThe Irresistible Allure of Modern Monetary Theory -FEE.org
"With Americans taxed to the hilt and refusing to finance greater deficits, Bernie Sanders's vulnerability remains his inability to address how his initiatives for increased government spending on infrastructure, subsidized college tuition, and medical care will be paid for. No problem, says Stephanie Kelton, a professor at Stony Brook University; the U.S. government can simply print the money. As strange as it may seem, Kelton's idea, broadly known as Modern Monetary Theory - which has been called 'The biggest idea in Washington' - has broad appeal...

Who Pays for Tariffs?

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28485460697 9ed5d95ca6 mWho Pays for Tariffs? -Wall Street Journal
"The U.S.-China trade conflict is headed for America's shopping centers. When the Trump administration began placing tariffs on Chinese imports last year, it cushioned the blow to consumers by targeting items purchased by U.S. manufacturers and other businesses. But the higher tariffs set to go into force Friday would apply 25% levies on more than $40 billion worth of items purchased directly by consumers - furniture, handbags, clothing, Christmas decorations, fire alarms and other items shoppers find on the shelves at Target, Walmart, Macy's and other stores, Josh Zumbrun reports. 'Consumers pay:

The Trade War Is Back

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america china commerce communication1444957 pxhereThe Trade War Is Back -Rickards/Daily Reckoning
"President Trump shocked markets yesterday when he announced that a new, heavy round of tariffs on Chinese goods will take effect this Friday. Complacent markets had assumed that a trade deal would get done, that it was just a matter of sorting out the details. Now that is far from certain. Failing a last minute deal, which is certainly possible, the trade war is back.

Reasons to Double-Up on Gold

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Gold10 Reasons to Double-Up on Gold in 2019 -Craig R. Smith/SATC
"2019 represents a golden opportunity to double-up on your precious metals holdings for many fundamental reasons....1. Rising Political Uncertainty – With the 2020 presidential election in sight, Americans will soon be deciding whether to continue embracing free market capitalism or to vote in favor of progressively bigger government, higher taxes and less freedom...

America Needs A Debt Jubilee

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Global DebtAmerica Needs A Debt Jubilee -Roberts/Zero Hedge
"As far as I can discern these days no one in the general population has any thoughts of Sumer, Babylonia, Assyria, or Ur....These civilizations were more advanced and more humanitarian than our own. They were more advanced because the rulers were focused on ensuring the society's longevity by maintaining a livable balance between debtors and creditors. It has all been downhill ever since. The rulers maintained social balance and, thereby, the life of the society by periodically canceling debts.