Originally published at: https://peakprosperity.com/daily-digest/treasury-secretary-fbi-scrutiny-gold-bear-squeeze-and-a-hypersonic-message/
US Politics
President Donald Trump has nominated billionaire Scott Bessent as Treasury Secretary, signaling a purported pro-crypto shift. Bessent, a respected Wall Street veteran, served as a key economic adviser to Trump’s 2024 campaign. His nomination follows the appointments of Howard Lutnick as Commerce Secretary and Kevin Warsh as a potential Federal Reserve Chair. Bessent is expected to oversee a broad portfolio to implement Trump’s economic agenda, including addressing the national debt ceiling and extending the Trump-era Tax Cuts and Jobs Act. Cryptocurrency is another focus, with Bessent and Trump reportedly showing strong support for Bitcoin, aligning with the Republican Party’s values of freedom. If confirmed by the Senate, Bessent will succeed Janet Yellen as Treasury Secretary, with support from Wall Street figures like Kyle Bass and Stanley Druckenmiller.
Recent scrutiny has emerged over discrepancies in FBI murder statistics, which have reportedly widened under the Biden administration. The U.S. tracks homicides through death certificates compiled by the CDC and law enforcement reports aggregated by the FBI. Historically, death certificates have been more comprehensive, but the gap between these and FBI figures has increased significantly, suggesting potential underreporting by local agencies, states, or the FBI. The FBI revised murder data back to 2003, increasing counts in some years by up to 7% without public notification. This has led to a growing difference between FBI-reported murders and death certificate homicides, averaging 3,711 annually during Biden’s presidency. These findings reportedly highlight ongoing issues with FBI murder data accuracy and the need for transparency in reporting.
Economy
Gold is experiencing a bear squeeze, pushing prices higher, while silver lags behind. This week, gold rallied strongly, reaching $2,670, up $108 from last Friday, whereas silver’s recovery was slower, rising to $30.80. The divergence is attributed to a decrease in gold’s open interest, suggesting that traders are bidding higher for existing contracts, squeezing the shorts. The ongoing conflict in Ukraine and renewed demand from Asia may also be contributing to gold’s appeal as a safe haven. Meanwhile, the silver market is expected to face a significant deficit in 2024, driven by industrial demand growth and steady supply, according to Metal Focus analysts.
Geopolitics
Russian President Vladimir Putin has addressed recent missile strikes in Ukraine, marking a shift in the military operation. Western missiles reportedly targeted Russian military sites, prompting Russia to conduct strikes on Ukrainian defense facilities and test the hypersonic Arnik missile. Russia announced military exercises in eastern Ukraine, closing airspace, which may indicate further strikes. The situation remains dynamic, with Russian forces reportedly making gains despite winter conditions. Ukrainian troops are constrained, unable to redeploy without risking further territorial losses.
In a related development, Russia’s use of hypersonic missiles has been highlighted as a demonstration of military capability. The recent attack involved a new missile type with independent maneuverable blocks, capable of penetrating deep underground targets. This technology is described by Russian sources as unstoppable by existing NATO defenses, emphasizing Russia’s conventional military power. The attack was a response to US and UK weapons used in Ukraine, with Russia’s missile systems like Avangard and Kinzhal showcasing their advanced capabilities. The situation underscores the growing tensions between Russia and NATO, with potential implications for future military engagements.
Sources
FBI’s Murder Data Revisions Under Scrutiny: Death Certificates Tell a Different Story
Death certificates have always provided broader and more accurate data than the FBI’s figures, but the gap between them has grown sharply under the Biden administration.
Source | Submitted by bcoop
Gold Squeeze Tightens as Silver Lags Behind: A Precious Metals Divergence
Source | Submitted by rhollenb
Putin’s Speech Highlights Escalation in Ukraine Conflict Amid Missile Strikes and Military Maneuvers
The conflict in Ukraine has become global in nature following the Western missile strike on Russia.
Source | Submitted by rhollenb
Russia’s Hypersonic Message: A New Era of Military Dominance and Global Tensions
Russia can reach anybody anywhere under any condition and nothing they can do about it.
Source | Submitted by larrythelogger
Trump Taps Billionaire Scott Bessent as Treasury Secretary, Signaling Pro-Crypto Shift
“Scott is widely respected as one of the world’s foremost international investors and geopolitical and economic strategists. Scott’s story is that of the American Dream,” Trump said in a statement on the nomination.