Kerry Lutz's--Financial Survival Network

Federal Reserve Chairman Janet Yellen address last Tuesday to the Senate Banking Committee as part of her semi-annual address to Congress. TheStreet's Joe Deaux reports from Washington that the Fed head didn't provide any shocking updates to monetary policy, which is important for investors to know. Additionally she spoke about the huge drawbacks to long-term unemployment and why unemployment benefits are a critical safety net for them. She also addressed the rising worries about inflation and said the central bank isn't currently concerned about longer-run inflation projections.

Charles Nenner said 1342 was the peak for gold. Sure enough it hit and it's been one raid after another. They've finally driven it down to $1290 and $1280 and $1260 can't be too far behind. Let's see where it stops. But, I finally got my wearable wealth 1 ounce gold bracelet. Pictures to follow. Check out the AirBNB story about the squatter who refuses to leave. 

Seems like deja' vu all over. When Seth was last on the show we talked about a mid to late July hit for gold and silver. Sure enough the day he's scheduled to come back on, a real-time raid drives the price of gold down to $1290 the ounce. Will wonders never cease? But that's all right. Looking ahead to the August and the fall, rising prices appear on the horizon. Now's a great time to purchase some wearable wealth like I did. 

As John recounts in his latest missive. The old Dickens quote “It was the best of times, it was the worst of times” is pretty much always applicable to a world as big and complex as this one. But lately, as the disparity between financial markets (best of times) and geopolitics (worst) has grown to almost comical proportions, Dickens has been sounding even more apropos than usual. To take just a few “worst of times” examples:

• Palestinians are shooting rockets at Israel, which is responding with a full-scale invasion that will end up killing many hundreds, including an appalling number of kids.
• A coalition of Islamic radical groups called Islamic State for Iraq and Syria (ISIS) is grinding towards Iraq’s capital, home of the small city that is the US embassy. What we’ll do should it be taken is anybody’s guess, but odds are it won’t be pretty. Meanwhile, Iraq’s Christians are the largely-unnoticed victims of the fundamentalist resurgence.
• Someone using advanced anti-aircraft missiles shot down a civilian passenger jet over Ukraine, and Russia, Europe and the US are making all kinds of threats and counter-threats as they try to apportion blame. There are an awful lot of soldiers in a small space, and the press is now full of “Archduke Ferdinand moment” kinds of analysis.