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6.20.19 - Gold Prices Rocket to 5-Year High

Gold last traded at $1,396 an ounce. Silver at $15.49 an ounce.

NEWS SUMMARY: Precious metal prices rose sharply Thursday on safe-haven buying and dollar weakness. U.S. stocks rose after the Federal Reserve hinted at possible interest rate cuts as soon as next month.

 

 

 

Capitalism's 'Creative Destruction'

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CapitalismCapitalism gets rid of stuff that doesn't work -P.J. O'Rourke/American Consequences
"The amazing thing about free-market capitalism is that it gets rid of stuff that doesn't work. You say, 'Amazing? When stuff doesn't work, of course you get rid of it!' If you've got a washing machine and - no matter how many times the supposedly lonely Maytag Man has been to your house - it just can't be fixed…

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Cashless: Classist, Bad for Business

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counting 3125587 640Cashless Isn't Just Classist - It's Bad for Business -Fortune
"There’s a growing debate across the U.S., and internationally, about whether businesses should be required to accept cash in face-to-face transactions. San Francisco and Philadelphia have banned cashless-only retailing, arguing that such businesses discriminate against low-income people who might not have bank accounts.

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US Growth: Recess or Second Wind?

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usd 2874026 640The economic expansion is poised to be the longest ever. Will it die or get a second wind? -USA Today
"The decade-long economic expansion, poised to become the longest in U.S. history next month, is facing an existential question: Will it sputter to a halt by next year or keep on chugging at the same modest pace that got it this far?

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Gold Fever is Spreading

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800px Gold bullion 2Gold Fever is Spreading -Innes/FX Empire/Yahoo Finance
"Gold prices climbed to the highest levels in more than a year. But adding to Golds allure is that prices traded well despite rebounding equities and a firmer USD. And while the prospect of lower U.S. rates and dovish Fed expectations remain supportive, Gold appeal goes well beyond that and is moving higher on own its accord as a safe and inexpensive hedge against the abundance of tail risks rapidly wagging.

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Facebook Unveils 'Libra'

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mailFacebook unveils 'its most invasive and dangerous form of surveillance yet' with launch of Libra cryptocurrency -The Sun
"FACEBOOK is launching cryptocurrency next year that will allow people to move money from their smartphone into a digital 'wallet'. Experts have branded the move a dangerous power grab that marks Facebook's 'most invasive' form of surveillance yet.

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