Cracker Barrel Stock COLLAPSES 55%! (Video)

I would have posted this earlier, but after sitting in bumper-to-bumper traffic for 45 minutes on Interstate 40 in the heat, I had to take a nap. 

Now that I am awake, I can post this. 

Cracker Barrel stock lost 55% in value since their woke wacko CEO Julie Felss Masino started destroying the Cracker Barrel brand.

This was easily predictable (just look at Bud Light's experience). 

Again, here's The Benny Show's new video (thanks to my Honorary Sister Diane for passing this along):

 

A lesson for other corporations: don't let liberal women become your CEOs!

GO WOKE, GO BROKE!

Dow Falls, Silver Jumps Up

Silver's spot price today took an upward jump today. It likely has something to do with the Federal Reserve's meeting this week.

While the Dow fell about 300 points today, silver went up 0.14%,

According to COMEX*:

It'll be interesting to see what happens tomorrow. Will it go to $26.00/toz?

 *What does COMEX stand for?

The Commodity Exchange Inc.

COMEX is an abbreviation of the exchange's full name: The Commodity Exchange Inc. COMEX merged with the New York Mercantile Exchange (NYMEX) in 1994 and became the platform responsible for its metals trading. 1 In 2008, the CME Group purchased the NYMEX, including its COMEX division.

Gold and Silver Bullion Leap To 1-Year Highs

Above, these silver dollars are worth more today than when they were minted. Photo by Armand Vaquer.

Those of us who have been putting our money into precious metals (gold, silver, platinum) are seeing that our investments (and trust) in them are justified. Fiat currencies is taking a beating*. 

While gold and silver are rising in value, the stock market, U.S. dollar, U.S.crude oil and bonds shrank. 

BullionVault reported:

GOLD and SILVER BULLION leapt in price Tuesday, hitting 13-month and 12-month highs respectively against a falling Dollar after new US data said the world's largest economy is seeing a steep drop in the number of new job openings.

Gold broke through $2000 per Troy ounce for the 4th time in 3 years while the silver price came within 7 cents of $25, a 7-year high when reached during the first-wave Covid Crisis of 2020.

With Friday set to bring non-farm payrolls data for March, today's US data said that US factory orders fell more sharply than expected in February while the number of job vacancies across the economy sank by well over 600,000 for the 2nd month running, marking the 5th worst decline on the 2-decade 'Jolts' series and badly worse than the 163,000 drop predicted by consensus forecasts.

New York's stock markets fell 0.3% on the news and US crude oil retreated $2 from $81.50 per barrel, a 3-month high reached after the Opec+ cartel of oil producer nations cut output in a bid to "stabilize" prices.

The Dollar gold price meantime hit $2020 per Troy ounce, extending last month's 6.4% gain with a further $40 rise already in April as bond yields sank and betting that the Federal Reserve will raise its key overnight interest rate once again at its next meeting in May fell hard.

Silver bullion rose faster, jumping 3.9% inside 90 minutes to come within 7 cents of $25 per ounce, the highest price since mid-April 2022. 

To read more, go here. 

*Why fiat currencies are worthless, here's a great example.

Federal Reserve: Rate Hike Day Today

Investors are waiting with baited breath (no, not with an anchovy on the end of their tongues) for the announcement of how much the Federal Reserve will jack up interest rates today

As for me, I'm just relaxing at home with some wine and cheese..

According to Financial Times: 

US stocks opened marginally lower on Wednesday as investors looked ahead to the Federal Reserve’s monetary policy decision, in which the US central bank is expected to raise rates again to keep up the fight against inflation.

The blue-chip S&P 500 fell 0.1 per cent, while the tech-heavy Nasdaq dipped 0.2 per cent. The KBW Bank index lost 0.6 per cent, and shares in First Republic, the regional lender at the centre of the crisis, dropped 2.7 per cent.

Futures markets indicate traders are expecting the Fed to raise rates by 0.25 percentage points from the current range of 4.5 per cent to 4.75 per cent.

To read more, go here.

Yesterday's Awakening of Gold and Silver

With the collapse of two banks last week, the financial world in the U.S. had a bad case of the jitters yesterday.

While Wall Street was down (but not as down as it could have been), precious metals were up...bigtime! I am glad that I bought silver while it was down during the previous weeks. (Remember: Buy Low, Sell High!)

During the previous weeks, both gold and silver were in a state of malaise (Holy Jimmy Carter!) in anticipation of what the Federal Reserve might do in regard to interest rates. But the bank collapses changed all that and woke up gold and silver. People were beating down the doors to buy gold and silver.

Silver rose around 6% and gold rose around 2% during the day. 

Today, this is where silver's spot price is at:

And, this is where gold's spot price is at:

It will be interesting to see how things shape up today.

Silicon Valley Bank Collapses, Silver Spot Price Up

Above, an 1889 Morgan Silver Dollar. Photo by Armand Vaquer.

A major bank in Silicon Valley collapsed, causing the stock market to drop over 300 points today. At the same time, the spot price for went up.

CNBC reported:

Stocks tumbled Friday as tech-focused lender Silicon Valley Bank shut down following losses in its bond portfolio, prompting the biggest bank failure since the global financial crisis and sending shockwaves through the banking sector.

The Dow Jones Industrial Average dropped for a fourth consecutive day, finishing 345.22 points lower, or 1.07%, to close at 31,909.64. The S&P 500 lost 1.45% to settle at 3,861.59. The Nasdaq Composite shed 1.76% to end at 11,138.89.

All the major averages capped off the week with losses. The Dow fell 4.44% to post its worst weekly performance since June. The S&P dropped 4.55%, while the Nasdaq lost 4.71%.

Perhaps this is why the silver spot market went up today.

According to Monex on today's rise in silver:

$20.56

+0.42

+2.09%

I don't know the correlation between the stock market and silver's spot price today, but it is something worth keeping watch on.

To read more, go here.

Twitter Set To Accept Musk's $43 Billion Bid

Above, liberal snowflakes are poised to have massive coronary arrests.

It appears that free speech will be coming to Twitter, if reports are accurate.

The New York Post reported:

Twitter is reportedly on the verge of accepting Elon Musk’s $43 billion bid to take the social network private, according to a report.

Twitter may announce it has accepted Musk’s offer later on Monday once its board has met to recommend the transaction to Twitter shareholders, sources told Reuters. The talks are fluid and the deal could still fall apart, the sources added.

The Monday report by Reuters sent shares of Twitter soaring by more than 5% in premarket trading on Monday. 

This'll send liberal snowflakes into cardiac arrest if the deal is completed.

To read more, go here. 

UPDATE:

He dood it! It's Musk's! 

Dow Loses Nearly 600 Points To Start March

It was a good thing that I moved my investment accounts to a "safe haven" two weeks ago.

Yesterday, the month of March did not have a good start as the Dow lost nearly 600 points due to the Russia/Ukraine war (we may as well call it that) and the surge in oil prices.

According to CNBC:

U.S. stocks slid Tuesday, the first day of March, as oil prices surged and investors continued to monitor the fighting between Russia and Ukraine.

The Dow Jones Industrial Average dropped 597.65 points, or 1.76%, to close at 33,294.95. The S&P 500 sank by 1.55% to 4,306.26, and the Nasdaq Composite slid 1.59% to 13,532.46.

The decline in stocks came as satellite cameras captured a convoy of Russian military vehicles apparently on its way to Kyiv, the Ukrainian capital. A U.S. defense official said Tuesday that 80% of the Russian troops that massed on Ukraine’s border last month have now entered the country.

We have Vlad the Invader to thank for all of this.

To read more, go here. 

Stock Market: Looking Better

After yesterday's 2,000 point drop, things are looking much better today at the New York Stock Exchange.

From CNBC:

9:32 am: Stocks jump at the open, Dow surges more than 800 points 

Stocks jumped at the open a day after posting the steepest declines since the financial crisis. The Dow Jones Industrial Average rose 831 points for a gain of 3.5%, while the S&P 500 and Nasdaq each rose 3.2%. The rise erases less than half of Monday’s sharp losses, however. - Stevens 

9:22 am: Fed pumps another $168 billion into financial system 

The Federal Reserve’s increased bank funding operations continue to see plenty of demand. Separate auctions Tuesday in the short-term lend market, or repo, saw a two-week offering massively oversubscribed, with $93 billion offered for a $45 billion operation. An overnight offering saw the New York Fed’s trading desk fill $123.625 billion in bids. Earlier this week, the Fed increased the size of the offerings from $100 billion to at least $150 billion for overnight repo, and from $20 billion to at least $45 billion. The repo auctions involve financial institutions providing high-quality collateral for the short-term funding banks use for their operations. The Fed began conducting these repo operations after market tumult in September briefly sent short-term yields soaring. – Cox