MARKETS
The U.S. dollar has been soaring in value and the prices of credit default swaps have been rising. Some analysts believe these factors could indicate growing risks in the global financial system. Gold and silver in the paper markets have been under substantial pressure. Precious metal bulls indicate the same happened in the months leading up to the 2008 financial crisis.
The Fed is expected to announce their next interest rate move on July 27th. Most precious metal bulls are looking for the Fed to pivot from their current policy of interest rate increases to combat inflation to doing a 180 and halting the increases or lowering rates as evidence builds that the economy is weakening. The argument is that if a Fed pivot happens gold and silver will soar.
CULTURE
Eva Marie Saint turned 98 years old this past week. The Newark, New Jersey native made her film debut opposite Marlon Brando in the Elia Kazan classic ‘On The Waterfront’ in 1954. She also starred opposite Cary Grant in the Alfred Hitchock classic ‘North by Northwest’ in 1959.
James Caan, the versatile New York born actor best known for playing the character of mobster Sonny Corleone in ‘The Godfather’ died last week at age 82.
CRIME
A mass murder occurred on July 4th during a parade in Highland Park, Illinois with an assault weapon that was legally purchased. Despite past run-ins with the police and plenty of warnings on social media…the shooter was able to purchase the assault weapon after passing a so-called background check. When are we going to ban weapons that are only used for mass murder? When are social media companies going to start policing their content? How much more of this insanity will the American public stand for?
Former Japanese Prime Minister Abe Shinzo was assassinated last Friday. he was shot in the back with a homemade shotgun in a country where gun violence is rare. There was only one gun murder in Japan in 2021.
POLITICAL
On Friday, former White House Counsel Pat Cipollone spent over 7 hours testifying before the House Select Committee investigating the January 6th attack on the Capitol in Washington, D.C. It has been reported that Cipollone’s testimony did not contradict the prior testimony of Cassidy Hutchinson. Sounds like significant evidence of crimes committed by Donald Trump is becoming indisputable and more and more legal experts, including Republicans, are expecting the former President to be criminally indicted.