With the U.S., Israel military action against Iran, the world markets are keeping an eye what transpires. Some are jittery, some aren't.
Since we're in a new month, it is time to take a peek at how the U.S. dollar is faring against the Japanese yen for those who are planning to travel to Japan anytime soon.
Currently, the exchange rate is ¥156.0350/dollar (Source: Yahoo! Finance).
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| Above, cruise ships docked at Nassau, Bahamas last August. Photo by Armand Vaquer. |
It is the most wonderful time of the year, according to the holiday song. This goes especially for cruise line companies.
They are basking in the surge of new bookings, the most since the pandemic.
Yahoo! Finance reported:
The early post-pandemic days were rough for cruise lines. Passengers—with the horror stories of people being stuck in their cabins and unable to dock at ports fresh in their mind—largely avoided sea travel, resulting in steep discounts and empty decks. Today, the story is a much different one.
Cruising is back in a big way. Bookings are at their highest levels since the pandemic, and reservations for trips in 2025 are running 10% to 15% above historic levels, according to the Wall Street Journal.
That’s causing a bit of a problem for people who typically book during the holiday season, when, historically, the best promotions have been available. This year, "wave season" is still rolling along, but the offers aren’t quite what they have been. Instead of discounts, travelers are seeing offers like dining upgrades or drink packages.
To read more, go here.
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| Above, Graceland's famous Jungle Room. Photo by Armand Vaquer. |
It has been eight years since I last visited Elvis Presley's Graceland. It was a year before the big Elvis Presley's Memphis complex across the street opened. It was still under construction during my visit.
I stayed at the Graceland RV Park & Campground located across the street and behind the former Heartbreak Hotel. It was very handy as it was an easy short walk to the mansion.
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| Above, The Beast at the Graceland RV Park & Campground. Photo by Armand Vaquer. |
Graceland is gearing up for the summer vacation season with new tours, events, concerts and exhibits.
Yahoo! Finance posted:
MEMPHIS, Tenn., May 16, 2024--(BUSINESS WIRE)--Elvis Presley’s Graceland is preparing for a summer filled with a variety of events, concerts, and numerous other reasons why this is the summer to visit the home of the King of Rock ‘n’ Roll in Memphis.
Graceland’s daily tours give fans and music lovers the opportunity to experience how Elvis lived and spent his time. This summer, visitors can enjoy an all-new tour experience, updated exhibits, as well as get a last chance look at one of our fan favorite exhibitions.
To read more, go here.
The state's oil and gas policies have made California's gas prices one of the highest in the nation. Yet, the stupid asses think they are pulling the wool over people's eyes with their Gas Price Gouging and Transparency Law passed last year.
From Yahoo! Finance:
Gas prices have been on the rise nationwide, but for California drivers, they've skyrocketed in a short amount of time.
The Golden State's average at the pump surged by $0.23 to $5.27 per gallon on Friday from a week ago, according to AAA data. Meanwhile, the nationwide average sat at $3.54 per gallon on Friday, up $0.04 during the same period.
Tom Kloza, global head of energy analysis at OPIS, points to refinery challenges as the main culprit for California's surging prices, including an important Phillips 66 refiner in the Bay Area halting gasoline production in favor of renewable diesel.
“Throw in regularly scheduled maintenance that will occur at two critical refineries in May and the normal penchant for speculative buying in global markets in the second quarter, and you have wholesale prices that have gone ballistic,” he said.
Kloza calculates gasoline in San Francisco, less taxes and other costs, is at a premium of almost $60 per barrel more than current crude levels.
Last year California passed the Gas Price Gouging and Transparency Law, aimed at keeping a lid on refinery margins. Regulators will meet next week to iron out the details for specific rules.
Andy Lipow, president of Lipow Oil Associates, said the law's requirements "may lead some gasoline importers to halt doing business in the state and that could exacerbate the supply situation at exactly the same time supplies from outside the state are needed."
The citizens who voted for Democrats in California have no reason to complain. They asked for it with their votes. The Democrats piled on taxes at the pump. Another great example of why stupid people should not be allowed to vote.
To read more, go here.
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| Above, the two counterfeit coins I bought last year. Photo by Armand Vaquer. |
My rule of thumb in coin collecting is that I buy what I like. There are those who are new to coin collecting who may be prone to making mistakes.
The only mistake I made was buying two counterfeit coins last year from an ad in Facebook. But my credit card company reversed the charge and I reported the matter to the authorities. I haven't seen the particular counterfeiters advertise in Facebook for months. Hopefully, they got the message and banned their ads.
Yahoo! Finance has posted an article on the seven worse mistakes first-time coin collectors make.
They begin it with:
Collecting coins can be fun and even lucrative. But there are seven mistakes you’ll want to avoid as a first-time coin collector.
Coin Collecting Mistakes To Avoid
Here are the seven most common mistakes you’ll always want to avoid as a first-time coin collector, according to Biltmore Loan and Jewelry:
To see what they are, go here.
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| Above, Elvis Presley's Graceland mansion in 2016. Photo by Armand Vaquer. |
Elvis Presley's Graceland complex has had a shortfall in visitors during the pandemic years and missed a few debt payments.
The revamp of the complex also put Graceland in the red. But things have turned around and the operators have caught up and made all debt payments.
From Yahoo! Finance:
(Bloomberg) -- Elvis Presley’s fans are breathing life back into Graceland, the singer’s 120-acre Memphis estate that’s been preserved in his honor. The uptick in attendance has allowed its operators to make up some missed debt payments.
Borrowers now have enough funds to make a full payment of July interest after an earlier shortfall, according to a regulatory filing by the trustee on Friday. The bonds were issued to help fund an overhaul of the complex, which its owner says is the second-most-visited private home in the US, after the White House.
The Graceland complex got a revamp a few years ago, adding a hotel and new museum complex featuring the singer’s jumpsuits and private jets. But like other attractions, Graceland suffered a plunge in visitors as the pandemic halted tourism, leaving a shortfall in funds needed to make bond payments. Things seemed to turn around as attendance rose to 133,627 in the third quarter of 2022, up from 68,961 in the last part of 2021, according to bond documents. Hotel occupancy and room rates climbed during the period as well. But numbers from the third quarter of this year dipped a bit, with 130,497 visitors.
I last visited Graceland in November 2016, before the complex across the street opened.
To read more, go here.
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| Above, Godzilla takes a walk through the National Diet Building in 1954. Toho Co., Ltd. photo. |
The news media must be getting excited over the upcoming Godzilla Minus One from Toho Pictures of Japan.
Yahoo! Finance has posted an article of "every version" of Godzilla from 1954 to 2023.
They begin it with:
Godzilla isn’t just a monster movie icon, the king of all kaiju: he is a king of looks too. In the nearly seven decades he’s been stomping around the box office, Godzilla’s gone through more appearances than most cinematic legends ever could. From his earliest days to his smashup with Kong in Warner’s Westernized reboot, and now with the arrival of Godzilla Minus One here’s a trip through the Big G’s wardrobe history.
To read more, go here.
A new tool to valuate coin values is being introduced. It is being described as "revolutionary".
According to an article in Yahoo! Finance, this will give collectors and investors more accurate valuations on their coins.
They reported:
LOS ANGELES, CA - (NewMediaWire) - August 9, 2023 - Marking a significant advancement in the world of numismatics, Coin Value Checker unveils its state-of-the-art valuation system designed to provide accurate and reliable coin valuations. Leveraging cutting-edge technology, this revolutionary service is set to transform how individuals and businesses buy, sell, and collect coins.
Coin collecting has been a cherished hobby and investment opportunity for centuries, yet determining the value of a coin has often been a complex and challenging task. Coin Value Checker has addressed this gap with a sophisticated platform that uses the latest data and algorithms to deliver precise coin valuations.
To read more, go here.
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| Above, a 2023 American Silver Eagle. Photo by Armand Vaquer. |
It is too bad that there are crooked people out there, even within the coin and bullion investing industry.
A silver dealer was recently fined $146 million for defrauding investors on American Silver Eagle coins that mysteriously vanished from the dealer's vaults. This involved two companies this particular dealer ran.
According to Yahoo! Finance:
Hundreds of depositors who handed millions to a silver dealer in exchange for precious minted coins were told their vaults were actually empty following an investigation by the U.S. Commodity Futures Trading Commission (CFTC).
Two firms run by precious metals dealer Robert Higgins have been ordered to pay out $112.7 million to the victims of an alleged complex fraudulent scheme, and $33 million in a civil monetary penalty.
The investigation into Higgins and two connected companies began last year.
According to a statement from the CFTC, between 2014 and 2022 Higgins conducted a fraudulent silver leasing scheme via two companies: Argent Asset Group LLC (Argent) and First State Depository Company, LLC.
The scheme
The plot, sold to customers as the 'Maximus Program', offered to pay owners of silver coins a lease fee in exchange for Argent's use of the commodity.
The payments were on a "scale" and would increase or decrease depending on how many of their coins the client was willing to offer.
The coins were either already owned by the customers, or could supposedly be purchased through Argent, and were apparently in storage at a vault owned by First State Depository Company in Delaware.
Customers were also told their investments were guaranteed and fully insured.
Coins such as these—silver American Eagle dollars—are often purchased by investors who want to see something tangible for their money, as opposed to government bonds or stocks.
To read more, go here.
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| Above, the ammo shelves at the Albuquerque Cabela's. Photo by Armand Vaquer. |
Some people are starting to relax a bit when it comes to the current financial situation. The actions the Federal Reserve has taken in the aftermath of the bank collapses, even though some of which are misguided and stupid, have calmed them a tad.
But there are those who aren't quite that confident of things and are preparing for worse-case scenarios.
Yahoo! Finance posted an article on three things you'll want to own if things go, well, see the title of this blog post (it's also Yahoo's article title).
They start it out with:
As the world watches with trepidation the recent string of bank runs, liquidity crises and outright failures sparked by the collapse of Silicon Valley Bank and Signature Bank, many are considering where this crisis will lead.
The global banking system is surely in hot-water at the moment, but most analysts only see it as a temporary, solvable problem. It would probably take an extreme, rare crisis of a much larger scale to take global civilization down.
While the likelihood of a total societal collapse is extremely low, you still might want to prepare for the worst. In this article, Benzinga discusses three essential items you'll want to own if the unthinkable occurs — gold, ammo and alcohol.
To read more, go here.
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| Above, 2022 Canadian silver Maple Leafs. Photo by Armand Vaquer. |
People are anxious over the banking crisis.
They are concerned that their bank savings accounts will go up in smoke, leaving them flat broke. They are beginning to turn to buying precious metals such as gold and silver.
The question arises, will this cause runs on gold and silver, thereby driving up prices?
An article in Yahoo! Finance takes a look at this.
They begin with:
The recent failures of Silicon Valley Bank and Signature Bank, two of the largest banks in the United States, piled on top of existing crises like inflation and the war in Ukraine, have raised concerns about the stability of the global financial system.
As investors search for ways to protect their wealth in these uncertain times, many are looking to precious metals, especially gold and silver, as a safe haven. The question on the minds of countless experts and analysts is whether bank runs and failures could lead to a run on gold and silver, driving their prices up.
The failures of Silicon Valley Bank and Signature Bank have exposed the vulnerabilities of the banking system, even in developed countries. In light of these incidents, some experts are warning that more bank runs could occur, particularly in the face of ongoing global crises such as geopolitical tensions, inflation and economic uncertainty. As these factors continue to shake the financial world, investors are turning to gold and silver as a means of preserving their wealth.
Analyst Mike Gleason of Money Metals Exchange explains in an FXStreet article that bank runs can lead to a run on gold and silver as investors seek to safeguard their assets from the risks associated with traditional banking institutions. Physical gold and silver can be a great choice in these situations because they are considered some of the best safe-haven assets and incur no counterparty risk.
To read more, go here.
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| Above, 2022 Canadian Maple Leaf silver coins. Photo by Armand Vaquer. |
More states are changing their tax laws on gold and silver by removing sales taxes on these precious metals and recognizing them as money instead of commodities. A bill has been introduced in the Texas Senate is a recent example.
Since our financial system is going haywire due to idiotic Federal Reserve policies, people are turning to gold and silver as a hedge against inflation.
Since gold is over $1,900/troy ounce, silver at $22.15/troy ounce spot price (currently) is a lot more affordable and is attracting buyers.
Yahoo! Finance has posted an article on five ways to invest in silver.
They begin it with:
Precious metals such as silver have long been an alternative to traditional investments such as stocks and bonds. When times get tough or the economy faces severe inflationary pressures, some investors turn to silver to hedge their bets or to invest more defensively. Silver prices spiked in March 2023 following the collapse of Silicon Valley Bank, as concerns were raised about the stability of the financial system.
Investors like silver for many reasons, but many see it as a store of value in uncertain times, while others see silver and other precious metals such as gold as protection against inflation. For this latter group, investing in silver is a way to be sure that they have a currency that can’t be inflated away by money printing or potentially destructive Federal Reserve policy.
There are a number of ways to invest in silver, from owning it outright to owning shares in companies that produce it. Here are five of the best ways to invest in silver.
To read more, go here.
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| Above, the American Silver Eagle bullion coin. Photo by Armand Vaquer. |
The regular American Silver Eagle bullion coin has been available for a few weeks. I have one already.
Yahoo! Finance has reported that the proof edition will be available for orders on March 2 at $80.00/coin. These are minted at West Point.
They reported:
Washington, DC, Feb. 24, 2023 (GLOBE NEWSWIRE) -- The United States Mint (Mint) will accept orders for the 2023 American Eagle Silver Proof Coin (W) beginning on March 2 at noon EST. This one ounce proof coin is minted to demand, with orders limited to 25 coins per household for the first 24 hours of sale.
Produced at the United States Mint at West Point since 1986, American Eagle Silver Proof Coins are collector versions of the official United States Mint American Eagle Silver Bullion Coins. These popular silver collectibles were updated in 2021 with a refreshed obverse (heads) and a completely redesigned reverse (tails) to mark the 35th anniversary of the American Eagle Coin Program.
To read more, go here.
One of my favorite silver coin dealers, SD Bullion, has reached $1 billion in sales during a calendar year.
According to Yahoo! Finance:
TOLEDO, Ohio, Feb. 14, 2023 /PRNewswire/ -- For the first time in the company's ten year history, SD Bullion reaches $1 Billion of sales in a full calendar year. Overall, the company has totaled more than $3 Billion in sales catapulting them near the top of most successful online bullion dealers.
"2022 was an exciting year for us. It was our first full year in our new 40,000 square foot facility. We finally had the space we needed to really scale and grow and take care of our customers," an elated Founder, Dr. Tyler Wall explained.
Some of the company's highlights include being named to Inc. Magazine's list of fastest growing companies for the fourth time in six years with a reported 336% three year growth rate.
To read more, go here.
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| Above, today's gas prices at the local Flying J. |
Rising gas prices is being blamed on "mild weather" (sure as heck not here) and higher demand.
But there are other reasons and prices could go even higher by April. That's just lovely, since I have a clampout in Tombstone, Arizona in April.
Here's what Yahoo! Finance is saying:
Get ready for gas prices to rise again going into spring. A gallon of driving fuel could go back above $4, according to GasBuddy petroleum analyst Patrick De Haan.
"It's a question of when, not if. I think something like that could happen by potentially April, maybe sooner," said De Haan.
"I think motorists are going to start getting squeezed more so in late February. The next three weeks could be a bit of a mixed bag," he said.
De Haan points to planned breaks in production at refineries as part of the reason for a rise in prices.
One good thing about the recent snowstorms, I haven't been out driving much, thereby saving gasoline.
To read more, go here.
It may be that 2023 could be a worse year economically than 2022.
One-third of the world economy may be going into recession, at least that's according to Kristalina Georgieva, the head of the IMF.
From MarketWatch:
This year is going to be tougher on the global economy than 2022, the International Monetary Fund’s chief, Kristalina Georgieva, has warned.
“Why? Because the three big economies, U.S., EU, China, are all slowing down simultaneously,” she said in an interview that on the CBS Sunday morning news program “Face the Nation.”
“We expect one-third of the world economy to be in recession,” she said, adding that even for countries that are not in recession, it “would feel like recession for hundreds of millions of people.”
The U.S. may end up avoiding a recession, but the situation looks more bleak in Europe, which has been hit hard by the war in Ukraine, she said. “Half of the European Union will be in recession,” Georgieva added.
To read more, go here.
One may ask, What Happens to Precious Metals During a Recession?
According to the United States Gold Bureau:
There have been some serious economic disasters in the past decade and a half. 2008 saw the subprime mortgage crisis, where predatory lending resulted in mass foreclosures with ramifications across broader markets.
2020 brought the COVID Crash. Economies around the world ground to a halt. People were laid off or started working from home. The stock market quickly fell 34% but managed to recover quickly. Massive amounts of money were printed, leading to serious inflation.
During these economic downturns, savvy investors were able to use the precious metals market to either protect their money or even turn a profit.
Is Investing in Gold During a Recession a Good Idea?
The short answer is yes. Gold typically moves inversely to the value of the dollar and also the stock market. If the dollar is strong, gold prices tend to dip. Commodities like gold are also the first to start rebounding during an economic downturn.
Is Silver a Better Investment Than Gold During a Recession?
As mentioned above, gold will initially be pulled down with everything else during a recession. But it will be one of the first things to bounce back and increase in value throughout the recession.
Silver, on the other hand, doesn’t have the same track record. Silver rarely increases in value during market selloffs. This might be due to silver having a higher industrial usage than gold. During a recession, industrial production slows down. As a result, the demand for silver decreases.
While silver does have a low correlation to stocks, it is thinly traded and volatile. It’s certainly not a bad investment, but in the context of precious metals to invest in during a recession, silver loses out to gold.
To read more, go here.
Unfortunately, gold is too expensive (currently around $1,834 an ounce) for the average person to buy. At least silver is affordable (currently around $24.23 an ounce) for the average person.
From Yahoo! Finance:
When it comes to alternative currencies, gold is usually the tender of choice. David Morgan, publisher of The Morgan Report and creator of Silver-Investor.com, disagrees. Morgan says that when it comes to precious metals as legal tender, silver is the best bet.
Silver is less expensive than gold, which makes it easier to transport and use. “In an absolute crisis, silver would be would be the monetary metal of choice. Its value per unit is a lot less than gold,” Morgan says.
The lustrous metal has been synonymous with money throughout history. “Silver has been used as money in more places and more times than gold ever has,” Morgan tells The Daily Ticker.
To read more, go here.
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| Above, the American Silver Eagle is one of the U.S. Mint's profitable products. Photo by Armand Vaquer. |
For those who collect or invest in gold or silver, the U.S. Mint is a source people should look into.
Strange as it may seem, the U.S. Mint is one government department that actually is turning a profit for the government. That wasn't always the case.
Yahoo! Finance has posted an article on the trials and tribulations the Mint went through in the 1990s to get to where it is today.
They begin with:
AUSTIN, Texas, Dec. 20, 2022 /PRNewswire/ -- Currently, the U.S. Mint strikes around 10 billion circulating coins each year, making it a profitable operation for the government. However, that wasn't always the case. This week on U.S. Money Reserve's "In Conversation," 35th Director of the U.S Mint (1994–2000) and U.S. Money Reserve President Philip N. Diehl and 38th Director of the U.S. Mint (2006–2011) and U.S. Money Reserve Senior IRA Strategist Edmund C. Moy discuss the challenges at the U.S Mint in the 1990s.
To read more, go here.
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| Above, Alpen Rose RV Park in Durango, Colorado. Photo by Armand Vaquer. |
The past several years, including the pandemic years of 2020 and 2021, have been boom years for the RV industry.
Now, thanks to the economic slowdown, inflation and high fuel prices, things have been tapering off.
Yahoo! Finance has an article musing if the "glory days" for the RV industry are coming to an end.
They begin it with:
The recreational vehicle (RV) industry was one of the few industries that prospered during the pandemic. With airlines and cruises not being particularly safe and viable travel options then, pandemic-weary Americans started looking for ways to venture out responsibly and turned to RVs.
RVs emerged as a rare travel winner in 2020 and 2021. But the recent economic slowdown is adversely impacting several industries and this time, the RV space has not been an exception. Demand and shipments of RVs are starting to slide. As recessionary worries loom large, it appears that the RV boom is nearing its end. Despite the uncertain scenario, two stocks — Cavco Industries CVCO and Patrick Industries PATK — could be attractive bets if you wish to stay invested in this space. But before delving into the stocks, let’s discuss the recent RV shipments numbers and outlook for 2022 and 2023.
To read more, go here.
Ever notice how the Democrats haven't bragged about how great a job His Fraudulency Joe Biden has been doing?
Well, there's many good reasons for that and the Bureau of Labor Statistics has provided another reason of why Biden is doing a crappy job.
From Yahoo! Finance:
U.S. consumer price increases quickened in March, underscoring ongoing inflationary pressures as supply chain disruptions and shortages lingered across the economy.
The Bureau of Labor Statistics' (BLS) Consumer Price Index (CPI) rose 8.5% in March compared to the same month last year, according to the latest report released Tuesday. That marked the fastest rise since December 1981. This followed a 7.9% annual increase in February. Heading into the report, consensus economists were looking for an 8.4% jump for March, according to Bloomberg data.
To read more, go here.
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| Above, William Shatner in his flight suit. Blue Origin photo. |
In less than three hours from now, Star Trek actor William Shatner will be among a crew of four when Jeff Bezos's Blue Origin spacecraft lifts off from West Texas.
According to Yahoo! Finance:
VAN HORN, Texas, Oct 13 (Reuters) - Billionaire U.S. businessman Jeff Bezos's company Blue Origin is set for its second suborbital tourism flight on Wednesday, with actor William Shatner - who embodied the promise of space travel on the "Star Trek" TV series and films - among the four-person all-civilian crew poised to blast off in Texas.
Shatner, at age 90, is due to become the oldest person ever in space. He and his crewmates are scheduled for a 9 a.m. (1000 EDT/1530 GMT) takeoff aboard the 60-foot-tall (18.3 meters-tall) fully autonomous New Shepard spacecraft at Blue Origin's launch site about 20 miles (32 km) outside the rural west Texas town of Van Horn.
To read more, go here.
