On Wire

Breaking news, updates, and reports on current events.

May US Existing Home Sales Fall -0.9% MoM, Available Inventory Increases Slightly, Median Price Up 2.8% MoM And 23.56% YoY

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by confoundedinterest17 Fed Chair Powell will speak to a Congressional Oversight Panel today at 2pm. He released his printed statement, and mentions that inflation is usually high. “Inflation has increased notably in recent months. This reflects, in part, the very low readings from early in the pandemic falling out of the calculation; the pass-through of past increases in oil … Read more

Trump sues NYC and DeBlasio…

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Former President Donald Trump’s company sued New York City Monday for allegedly wrongfully terminating contracts the Trump Organization had to operate city facilities. “The City has no right to terminate our contract,” Trump Organization officials said in a statement. “Mayor [Bill] de Blasio’s actions are purely politically motivated, have no legal merit, and are yet … Read more

Florida woman goes to ATM to withdraw $20, discovers almost $1B in account

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A Florida woman reportedly wanted to withdraw $20 from an ATM and was stunned to discover her account boasted what she believed was a jaw-dropping balance of nearly $1 billion. When Julia Yonkowski, of Largo, checked her Chase Bank balance before making the small withdrawal Saturday, her receipt showed $999,985,855.94 in her account.. The stunned … Read more

Ninth Circuit reinstates California’s ‘assault’ weapons ban

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Earlier this month a federal judge overturned California’s ‘assault’ weapons ban because it violated the second amendment. The Ninth Circuit just reinstated it: The three judge panel issued a stay on Judge Roger Benitez’s ruling, which means the current ban on the firearms will stay in place while other proceedings continue. California Attorney General Rob … Read more

Jason Burack Discusses Billionaire Paul Tudor Jones Loading Up On Inflation Hedges Like Gold, Commodities, & Bitcoin

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Wall St. For Main St., Released on 6/21/21 Paul Tudor Jones says ‘go all in on the inflation trades’ if Fed keeps ignoring higher prices https://www.cnbc.com/2021/06/14/paul-… Commit to tipping us monthly for our hard work creating high level, thought provoking content that includes interviews with top experts, analysis and short videos about investing and the economy http://www.patreon.com/wallstformainst​ Please … Read more

COT Report Shows Stage Set For Volatility

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by Lance Roberts A couple of weeks ago, in “Warning Signs A Correction Is Ahead,” we said quite a few indicators set the stage for a pick-up in volatility. A review of the latest Commitment Of Traders (COT) report suggests the same. “During a ‘bullish advance,’ investors become incredibly complacent. That ‘complacency’ leads to excessive speculative risk-taking. We see … Read more

Truly Autonomous Weapon May Have Been Used In Libya, U.N. Report States

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“Fire, forget and find?” That question may have just been answered. A new United Nations report suggests that a long-anticipated, highly-concerning debut in military technology was made last year during Libya’s civil war: the use of an AI weapon. The U.N. report described an aerial drone used by Libya’s government against militia forces as a … Read more

‘We’re seeing the rise of an extremely assertive and aggressive Chinese state’

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ASPI Foreign Policy expert Michael Shoebridge says we’re seeing the rise of an extremely assertive and aggressive Chinese state that is willing to use its “economic power” and the power of its big companies. It comes as concerns are growing relating to one of the nation’s most important ports, the Port of Newcastle, given it … Read more

GOODER AND HARDER: California’s $100 Million Marijuana Bailout Tells You All You Need to Know about Its Government.

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  via FEE.org: I bring up [the Johnny Depp film] Blow in light of news that California’s legislature approved a $100-million plan to boost California’s struggling legal marijuana industry. As the Los Angeles Times reports, the industry is in serious trouble. The growth of licensed cannabis shops has been dismal and far below state projections. Just 1,086 retail and … Read more

Crypto Market Sheds $300 Billion in Value in Latest Crash

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China’s renewed crackdown on the cryptocurrency industry has wiped off around $400 billion in value off of the total digital currency market since Friday. Bitcoin, ether, XRP and other digital coins fell sharply. On Friday, authorities in China’s Sichuan province, ordered cryptocurrency miners to shut down their operations. The People’s Bank of China urged financial … Read more

Inflation May Be Transitory, But This Damage is Permanent

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From Birch Gold Group The “whack-a-mole” game of watching inflation fall and rise sharply over the past 25 years is disheartening at best. Here’s why… Inflation officially sits at 5 percent (the highest since 2008). The last 25 years of inflation rising and falling are shown on the chart below: As you can see, the blue line remains above zero almost all of … Read more