Originally published at: https://peakprosperity.com/daily-digest/gold-could-hit-27k-as-auto-loan-crisis-escalates/
Jim Rickards has made a bold prediction that gold could potentially exceed $27,000 per ounce. This forecast hinges on the possibility of central banks reverting to a gold standard amidst a collapse in confidence in fiat currencies. Rickards’ analysis factors in supply and demand dynamics, including a decrease in new mining output coupled with an uptick in central bank demand. This scenario suggests that current investments in gold could yield significant returns as the market adjusts to these predicted valuations.
Transitioning to the automotive sector, the United States is witnessing a surge in car repossessions, a direct consequence of the burgeoning auto loan crisis. The financial strain of maintaining vehicle payments has escalated, exacerbated by rising costs associated with vehicle ownership, such as fuel prices, insurance rates, and interest on car loans. This crisis is not confined to consumers alone; dealerships are also feeling the pinch as vehicles are repossessed from their lots. The situation is further complicated by the tightening of credit by banks, making it increasingly difficult for consumers to secure loans. This cycle of repossession and the subsequent financial turmoil is indicative of broader economic challenges, with potential implications for consumer spending and business operations.
In the health and regulatory sphere, the debate over raw milk has resurfaced with the USDA’s investigation into an illness among dairy cows, attributed to avian flu without confirmed evidence of the virus in milk. This incident has reignited discussions on the safety of raw milk and the effectiveness of pasteurization. Critics argue that the government’s stance on raw milk, influenced by historical and recent events, lacks solid scientific backing, especially concerning the transmission of avian influenza through raw milk. This controversy underscores the ongoing tension between public health policies and consumer choice, particularly in the context of food safety and regulatory oversight.
In corporate governance and ethics, Facebook’s former diversity manager, Barbara Furlow-Smiles, has been sentenced to five years in prison for orchestrating a scheme that defrauded the company of more than $5 million. Utilizing fake events and invoices, Furlow-Smiles exploited her position to channel funds to acquaintances for nonexistent services. This case highlights the challenges corporations face in preventing internal fraud and maintaining ethical standards within their operations. It also reflects on the broader implications for corporate trust and the mechanisms in place to safeguard against such malfeasance.
Lastly, in the technology and finance sector, Google Cloud’s accidental deletion of UniSuper’s account, a pension fund managing $135 billion, underscores the vulnerabilities inherent in digital data management and cloud services. Despite the recovery of data through alternative backups, the incident, which resulted in significant downtime, raises questions about the reliability of cloud services and the measures in place to prevent such occurrences. This event is particularly noteworthy given the increasing reliance of financial institutions on cloud technology for data storage and management, highlighting the critical need for robust safeguards and contingency plans in the digital age.
Sources
Gold Price Forecast: Could Gold Exceed $27,000?
My latest forecast is that gold may actually exceed $27,000.
Source | Submitted by AaronMcKeon
Auto Loan Crisis: Spike in Repossessions Threatens Car Market
There’s an auto loan crisis happening in America right now and I’m seeing it every single day at these used car dealer auctions.
Source | Submitted by Diversityhobbit
The Lies and Deception Surrounding Raw Milk: Uncovering the Truth Behind the Campaign
Unfortunately, the fictitious Crossroads story paved the way for laws against selling raw milk, starting with Michigan in 1948.
Source | Submitted by PhilH
Former Facebook Diversity Manager Jailed for Orchestrating Fake Events and Stealing $5 Million
“Furlow-Smiles shamelessly violated her position of trust as a DEI executive at Facebook to steal millions from the company utilising a scheme involving fraudulent vendors, fake invoices, and cash kickbacks.”
Source | Submitted by Shplad
UniSuper’s $135 Billion Pension Account Wiped Out in Google Cloud Compute Nightmare
UniSuper, an Australian pension fund that manages $135 billion worth of funds and has 647,000 members, had its entire account wiped out at Google Cloud, including all its backups that were stored on the service.
Source | Submitted by Shplad
