Gold has been on a tear this month.
Earlier this week, the European Central Bank Chief Mario Draghi – or as I like to call him “Super Mario” – outlined a possible fiscal stimulus plan in Europe. Gold rapidly moved higher off the news.
On Wednesday, U.S. Federal Reserve Chairman Jerome Powell released his own cautious statement on the economic situation. The U.S. dollar headed lower and gold popped.
Even gold sentiment among investors has spiked this month.
But for the last 5 years gold has been range bound in the U.S. Dollar… waiting for a catalyst to propel itself back towards previous high of $1,900 per ounce.
Many of you are prudent to note that I’ve published many articles showing how $2,000 gold is already here. You don’t need to look any further than gold priced in Australian dollars which continues to march to all-time highs….
As I’ve said before…
The reason for this out-performance in Australian gold pricing is due to U.S. dollar strength versus Australian dollar weakness.
Lots of media outlets will lead you to believe there’s a race to the bottom in currencies. And while this may sound dire, it’s great for resource companies in the right jurisdiction.
But for most gold producers, it’s been a grind. Anyone that tells you otherwise is lying to you.
Quick question: What’s the hottest culinary trend this year in America?
B. Chia seeds
Well, you don’t need to be a food connoisseur to know the answer… If you’ve been following the Daily for the past two weeks, you probably answered “D.”
You see, according to the National Restaurant Association’s 2019 What’s Hot Culinary Forecast, CBD-infused foods and beverages are the flavor of the year. The other three were distant runners-up.
The survey included 650 professional chefs—all members of the American Culinary Federation. And they believe CBD creates unique cuisine opportunities and potential new markets for experiential dining.
It doesn't take long for most investors to give up. They think they have a plan... But a bit of uncertainty hits them, and they're gone.
That's what happened last month. It was one of the worst Mays in stock market history, as I explained yesterday.
Uncertainty flooded into the market, and investors panicked. Stocks made a one-way move lower in May, falling almost 7%.
Panic set in. But that is the wrong emotion to have right now...
If you look at history, it's easy to see that what happened in recent weeks, however painful, is completely normal.
Simply put, corrections happen... even during a stock market Melt Up.
Let me explain...
May was a rough one. Things seemed to be going fine, with the finalized U.S.-China trade deal just days away. Then the deal unwound, and folks ran for the exits.
Dr. Mark Skousen, free market economist, financial advisor, professor, and award-winning editor of Forecasts & Strategies, joins me today for an incredible, wide-ranging interview [13:02]. He gives us his take on current economic conditions… three macro events he believes could derail our bull market… and some of his favorite income ideas today.
Dr. Skousen is a legend in the financial newsletter industry and best-selling author of over 25 books. He’s lectured in over 70 countries and taught economics and finance at numerous colleges, including Columbia Business School.
He’s also producer of the annual FreedomFest, “the world’s largest gathering of free minds.” (I’m honored to be speaking at the festival next month in Vegas.) We discuss FreedomFest and reminisce about the old days in the financial newsletter industry—back when you had to actually stuff envelopes.
In my educational segment [48:16], I pound the table—once again—on an investing strategy anyone can use… and how it helped us close out another big winner in Curzio Venture Opportunities.
By E.B. Tucker, editor, Strategic Trader
17,400% in three minutes…
I made 175 times my money last month at Smokin’ Joe’s Saloon… a well-known bar on the south side of Pittsburgh.
I went there to get a firsthand look at one of today’s biggest trends: virtual sports.
Virtual sports means there are no human players, no stadiums, and no hometown teams to favor. The game is pure chance. It’s a computer-generated simulation.
Pennsylvania is the first state in the U.S. to offer virtual sports betting through its state lottery commission. And Smokin’ Joe’s is one of two places I found in Pittsburgh where you can bet on the games.
When I walked in, nobody knew how to help me use the Xpress virtual sports machine… a clear sign that this trend is brand-new… and that now is the time to get in.
The Pennsylvania Lottery Commission put the big yellow machine in the bar. The bouncer did tell me that sometimes people win money at the machine and buy everyone drinks.
That wasn’t very helpful. I had to read the fine print on the machine to figure out how it worked.
What are the three elements of the perfect political and market storm I see coming together this fall?
The first is an effort by the Democratic House of Representatives to impeach President Trump. The second is the socialist-progressive tilt in the 2020 presidential election field. The third is the fallout from the Mueller report and the Russia collusion hoax — what I and others called “Spygate.”
These components are independent of each other but are at high risk of convergence in the coming months. Let’s look more closely at the individual elements of impeachment, electoral chaos and Spygate that comprise this new storm with no name.
The first storm is impeachment. Impeachment of a president by the House of Representatives is just the first step in removing a president from office. The second step is a trial in the Senate requiring a two-thirds majority (67 votes) to remove the president. Two presidents have been impeached, but neither was removed. Nixon resigned before he could be impeached.
If the House impeaches Trump, the outcome will be the same. The Senate is firmly under Republican control (53 votes) and there’s no way Democrats can get 20 Republicans to defect to get the needed 67 votes needed. So House impeachment proceedings are just for show.
Crypto enthusiasts living in the United States will have no trading options for a many cryptocurrencies when the major crypto exchange Binance becomes unavailable for them in September, according to a report by CryptoPotato on June 14.
The report draws this conclusion based on the following table, which shows which cryptocurrencies will still available for U.S.-based traders after Binance discontinues its U.S. service:
The foregoing exchanges listed are Coinbase, Bittrex, Poloniex, Kraken, HuobiUS, and eToro.
The report also highlights that, in addition to the cryptocurrencies with no trading outlet in the U.S.—the all-white rows—there are also a number of tokens listed on only one exchange after Binance drops off, including ARK, BTT, IOTA, PIVX, and ZIL.
These “endangered” exchange tokens, as well as the (temporarily) extinct tokens, will likely witness a large drop in volume, according to the report.
However, veteran cryptocurrencies such as XRP, DASH, XLM, ETC, ZRX, and ZEN should survive Binance’s departure with little issue, since they are listed on four or more of the aforementioned exchanges.
It was only a few days ago that the Japanese government’s Financial Services Agency published its oddly-titled “Annual Report on Ageing Society”.
(Like everything in Japan, English translations often hilariously miss the mark…)
This is a report that the Ministry of Finance puts out every year. And as the name implies, the report discusses the state of Japan’s pension fund, and its future prospects for taking care of its senior citizens.
Bear in mind that Japan has the oldest population in the world; Japan ranks #2 in the world for average age (46.9, just behind Monaco), #1 in the world for the greatest percentage of citizens over the age of 70, and #1 in the world for life expectancy.
Did you know? You can receive all our actionable articles straight to your email inbox... Click here to signup for our Notes from the Field newsletter.
In a nutshell, this means that Planet Japan has more people collecting pension benefits, for more years, than anywhere else.
Late one Saturday night, the movie A Fistful of Dollars came on TV.
At age 12, I was immediately drawn to Clint Eastwood’s character, “The Man with No Name.”
Still to this day, he is one of my favorite characters ever.
As you can appreciate, growing up in East Vancouver (back then – a lower income, immigrant blue collar neighborhood) with a name like Marin, you attract unwanted attention by the herd. Much like the character in the famous Johnny Cash song, Boy Named Sue.
The coolest person I had ever seen had no name. So, I thought to myself: Why couldn’t his name be Marin?
It was the first time in my life that I realized that you can make yourself into whoever you want to be. It might be a long, tough road. But, it’s possible.
Clint Eastwood’s character, The Man with No Name, rarely talks.
So when he does, you lean in close to listen. One specific line of his stuck with me… and has all these years:
“When a man’s got money in his pocket, he begins to appreciate peace.”
You and I are alligators. My long time readers know what I am talking about.
Nick: Jason, Merrill Lynch estimates the global market for legal cannabis is about $166 billion—that’s 25 times bigger than the medical marijuana market.
Now, we think it’s a great opportunity for investors. But what does the smart money think?
Jason: Well, it’s coming into this space with plenty of capital.
But let me back up and give you a personal look at the changing public mood towards legal cannabis. It’s important because Wall Street is watching how Main Street reacts.
You see, my 92-year-old grandmother has never touched a drug in her life. She doesn’t smoke. And she’s never taken any recreational pills. Her idea of letting loose is sipping one glass of wine a couple nights per year.
Now, you wouldn’t believe this… but she actually buys CBD oil to treat the arthritis pain in her knees.
Nick: Has it helped her?
Jason: Well, with a shrug and a grin, she says, “It works!”
If there's one person you should listen to and learn from, it's Warren Buffett.
Buffett is one of the most famous and successful investors of all time. His track record is the envy of everyone on Wall Street.
He not only makes money, he also teaches – something he's done for decades. And most of his advice is timeless.
No matter what your situation is... whether you're sitting on a portfolio of $100,000 or just starting out in the investing game... you'll be able to benefit.
Yesterday, I shared one lesson that Buffett's example teaches us. Today, I'd like to discuss three of his favorite pieces of wisdom – some of the best ideas he's shared with investors over the course of his career.
The first lesson I want to go over today is...