From Joe
Everything You Need to Know About Money is Now at your Fingertips
I've created a library of training material to teach you how money works so that you can make more money and protect it.
It's more important than ever to understand how to allocate your portfolio to eliminate risk. How to use the advanced options strategies that professionals use to hedge, produce income, and make low-risk trades with huge payoffs. How to get out of debt fast. How to pick the best stocks and make sure you are buying them at a great price.
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News
Estimated World Official Gold Holdings Reach Record High
My estimation of global official gold reserves hit 38,764 tonnes in Q2 2023, breaking its previous record from 1965. The new high confirms the world has entered a new era of gold. Central banks will continue to accumulate gold and the metal’s role in the international monetary system will increase to the detriment of the US dollar. Analysts widely use the International Monetary Fund (IMF) calculation for total official gold holdings, though what is usually overlooked is that this number is an estimate by the Fund.
Strikes Always Have Economic Consequences and the Latest UAW Strike Is No Exception
On September 15, 2023, the United Auto Workers (UAW) union staged a massive strike consisting of thirteen thousand workers, and for the first time, the union hit three separate automotive enterprises simultaneously: General Motors, Ford, and Stellantis. Press noted that only three assembly plants are on strike at the moment: a General Motors factory in Wentzville, Missouri; a Ford plant in Wayne, Michigan; and a Jeep factory owned by Stellantis in Toledo, Ohio.
Oil’s Rally Cools as Tight Crude Market Vies With Hawkish Fed
Oil eased off yearly highs, capping a tumultuous week that saw the Federal Reserve flagging a further rate hike and Russia banning diesel exports. While Russia’s announcement of a temporary emargo on gasoline and diesel exports has tightened an already stressed global fuel market, signals that the Federal Reserve will keep borrowing costs higher for longer have cooled oil’s rally. West Texas Intermediate posted its first weekly loss in a month, after reaching the highest level this year.
Fed is cutting staff after more than a decade of payroll growth
The U.S. Federal Reserve system is cutting about 300 people from its payroll this year, a small but rare reduction in headcount across an organization that has grown steadily since 2010 as its reach in the economy and regulatory agenda have expanded. A Fed spokesperson said the cuts are focused on the staff of the U.S. central bank's 12 regional reserve banks and mainly hit information technology jobs, including some no longer needed because of the spread of cloud-based computer software, and positions connected to the Fed's various systems for processing payments, which are being consolidated.