Imagine a bank creating unlimited funds to lend, earning billions in fees and interest, with no worries about the borrower defaulting. It’s happening today – big time! This week’s reading stack began with a Wolf Street article, “Deep-Junk-Rated Carvana gets $4.5 Billion from New Investors, after Shares Collapsed by 79%….”. Despite regularly losing money and a deep junk bond rating, […]» Read more
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This week's reading stack began with a Wolf Street article, "Deep-Junk-Rated Carvana gets $4.5 Billion from New Investors, after Shares Collapsed by 79%….".
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Halfway through my reading stack, I was furious. The Federal Reserve is a banking cartel, using tax dollars to line their pockets, pretending to protect the public from exactly what they have become. They claimed inflation was too low, shooting for an “average 2%”. Inflation raged and they called it “transitory”. Now they are pretending to deal with it, predicting […]» Read more
With the headlines blaring, “‘Extraordinary’ – US Consumer Prices Soar At Fastest In Over 40 Years”, citizens struggle to pay their bills and protect their wealth. Chuck Butler regularly asks his Daily Pfennig readers, “Got Gold?” Why is gold special? As J.P. Morgan said, “Gold is money. Everything else is credit.” Historically people sought a reliable medium of exchange for […]» Read more
The Fed has begun the battle against double-digit inflation. CNBC reports they are raising interest rates (very slowly) and announced: “Officials “generally agreed” that a maximum of $60 billion in Treasuries and $35 billion in mortgage-backed securities would be allowed to roll off, phased in over three months and likely starting in May.” CNBC adds: “While officials did not make […]» Read more
When the Fed bailed out the banks in 2008, interest rates dropped to historic lows. Many retirees were heavily invested in CDs and quality bonds earning a safe 6% interest, paying their bills, and enjoying their golden years. Overnight, trillions in CDs and bonds were called in, savers lost a major portion of their anticipated income as interest rates dropped […]» Read more
Famed philosopher Ayn Rand told us, “You can choose to ignore reality; but you cannot ignore the consequences of ignoring reality.” If you bury your head in the sand long enough, you will eventually get bit in the ass…. Inflation has been skyrocketing and the government/media can no longer ignore it. John Williams, at Shadowstats.com calculates inflation using the same […]» Read more
Just when you think things can’t get crazier, they do. The US pulls out of Afghanistan, leaving people and weapons behind unnecessarily. Russia invades Ukraine because they are threatened by NATO. China is rattling the saber over Taiwan. The Canadian Prime minister governs against the will of the majority; all because he wants to save face. Unpopular mask mandates are […]» Read more
With all the world turmoil, high inflation, war in Ukraine, China rattling their saber, gold has gone up in price. Trading Economics tracks gold prices for the last 12 months. Less than a year ago, gold was just under $1,700/oz. It recently hit $2,050/oz. and was knocked down $60/oz. the following day. Remember the old saying, there is never a […]» Read more
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