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Home Daily Digests Gold Futures Pass $3,000 for First Time, New York Eyes $75 Billion Tax on the Past

Gold Futures Pass $3,000 for First Time, New York Eyes $75 Billion Tax on the Past

Gold market volatility, U.S. political maneuvers, Russia’s ceasefire demands, New York’s fossil fuel fines, Canadian legislative changes, and intelligence reform efforts dominate global headlines, reflecting complex geopolitical and economic dynamics.

The User's Profile Ivor March 14, 2025
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DISCLAIMER: The following content does not reflect the opinions of Peak Prosperity, but is rather a summarization of content that has caught the interest of members of the community.

Discussion is welcome in the comments section!

Economy

The global gold market is experiencing turbulence as the paper gold system faces pressure. The U.S. has reportedly imported 2,000 tons of gold, suggesting potential government involvement. This increase in demand for physical gold is causing delays at the London Bullion Market Association (LBMA) and the Bank of England, while COMEX deliveries have increased. The divergence between spot and futures prices is raising concerns about market credibility, with some analysts suggesting a potential monetary reset. Meanwhile, gold futures have surpassed the $3,000 mark for the first time, influenced by a 410,000-ounce delivery at COMEX and possibly President Trump’s tariff threats against European imports. Goldman Sachs has adjusted its year-end 2025 gold price forecast to $3,100 per ounce, citing increased central bank demand and concerns over U.S. fiscal sustainability. Reports from Bloomberg indicate that central banks are increasing their gold reserves, which could be interpreted as a move towards a commodity-backed system or a hedge against fiat currency instability.

US Politics

Amaryllis Fox Kennedy, daughter-in-law of RFK Jr., has taken on a role at the Office of Management and Budget, overseeing intelligence agency budgets. Her appointment aims to bring transparency and accountability to the intelligence community, which she reportedly views as “woke and weaponized.” Kennedy’s background as a CIA officer informs her approach, emphasizing the need for reform and efficient use of taxpayer dollars. Her role is part of a broader effort by the Trump administration to reform the intelligence community, a move that has sparked controversy and accusations of political motives. The Intercept critiques the Trump administration’s approach to intelligence reform, arguing that Kennedy’s appointment might be more symbolic than substantive.

Acting ICE Director Todd Lyons has accused the Biden administration of inflating arrest data by counting individuals processed and released into communities as ICE arrests. This approach has been criticized for potentially influencing future elections, and there has been a reported drop in daily border book-ins. The Washington Post reported that the Biden administration’s policies aim to reduce the backlog of immigration cases by focusing on deporting individuals with criminal records, offering a different perspective on the “catch and release” policy.

Canadian Politics

B.C. Premier David Eby is defending new legislation granting him the power to change laws without legislative approval in response to U.S. tariff threats. The bill allows the premier’s cabinet to alter laws for two years, sparking controversy over legislative oversight. Eby compares the situation to a natural disaster, emphasizing the need for a quick response. The Opposition criticizes the move as a power grab, while Eby is prepared to justify the bill to voters if necessary. CBC News reported on the opposition’s call for a snap election, highlighting the political tension surrounding the bill.

Geopolitics

Russian President Vladimir Putin has outlined conditions for a 30-day ceasefire with Ukraine, demanding no mobilization, training, or weapons for Ukraine during this period. Russia has rejected a U.S.-proposed ceasefire, viewing it as a temporary reprieve for Ukrainian forces. Putin’s demands aim to reset relations with Washington, while Russia continues its military operations in the Kursk region. Analysts suggest that a ceasefire could benefit Ukraine and the West by halting Russian advances. Reuters reports that Russia has delivered a list of demands to the U.S. for ending the war, aiming also to reset relations with Washington, though the specifics remain undisclosed.

Energy & the Environment

New York State has reportedly imposed a $75 billion fine on major fossil fuel companies for carbon emissions since 2000. Some critics view this as a political move rather than effective climate action, arguing that such fines expand government power without significantly reducing climate change, as the U.S. contributes only a fraction of global emissions. The fines are compared to tobacco settlements, with costs likely passed to consumers. This approach is seen by some as a revenue source for states rather than a genuine effort to address climate issues. The New York Times noted the comparison made by legislators between fossil fuel companies and the tobacco industry in terms of denial and delay tactics.

Health

President Trump has withdrawn his nomination of Dr. Dave Weldon for CDC Director due to insufficient support for confirmation. Weldon, a former congressman and critic of the CDC, was intended to focus on chronic disease prevention. The Senate Health Committee has advanced other nominees for the FDA and NIH, reflecting the influence of the Republican-controlled Senate. The Washington Post highlighted the political implications of Weldon’s withdrawal, noting the ongoing debate over vaccine safety within the Trump administration.

Meanwhile, Health Secretary Robert F. Kennedy Jr. is advocating for the removal of artificial dyes from the U.S. food supply, urging food companies to make changes. The FDA has recently revoked authorization for Red No. 3, and Kennedy is focused on enhancing food safety and transparency.

Sources

The Golden Reckoning: Unraveling the Paper Gold Illusion and the Looming Financial Transformation

The paper gold system is breaking. The fuse was lit long ago — now we’re at the keg.

Source | Submitted by Gamma Geek

ICE Director Accuses Biden Administration of Misleading Public with Inflated Arrest Data

They were purposely misleading the American people by categorizing individuals processed and released into the interior of the United States as ICE arrests.

Source

Kennedy Urges Food Giants to Ditch Artificial Dyes in Bold Health Initiative

“We will strengthen consumer trust by getting toxins out of our food.”

Source

Putin’s Ceasefire Demands: No Mobilization, No Training, No Weapons for Ukraine

“We also want guarantees that during the 30-day ceasefire, Ukraine will not conduct mobilization, will not train soldiers, and will not receive weapons,” Putin said during a press briefing with his Belarusian counterpart Alexander Lukashenko in Moscow.

Source

Gold Futures Break $3,000 Barrier Amid COMEX Surge and Tariff Tensions

Gold Futures Top $3,000 For First Time Ever

Source

New York’s $75 Billion Fossil Fuel Fine: Climate Justice or Political Ploy?

New York State is fining major fossil fuel companies a total of $75 billion.

Source | Submitted by James Buren

Roaring 20s Redux or Great Depression 2.0: Navigating the Cycles of Change

Whether we get the Roaring 20s or the Great Depression 2.0 boils down to this: Are we adapting via real transformations, or are we controlling the narrative to protect those benefiting from the status quo?

Source | Submitted by Rodster

B.C. Premier Seeks Sweeping Powers Amid U.S. Tariff Tensions, Sparking Controversy

“This gives the government basically sweeping powers to basically do anything they want with no oversight,” said Conservative leader John Rustad.

Source | Submitted by westcoastjan

RFK Jr’s Daughter-In-Law Takes on Intelligence Budgets: From CIA Spy to OMB Powerhouse

The federal government has been weaponized against the American people, including our president, in ways most Americans have yet to realize,

Source

Trump Pulls CDC Nominee Dave Weldon Amid Confirmation Concerns

Trump Withdraws Nominee For CDC Director Dave Weldon

Source

In addition to sources submitted by community members, the following were also used in the creation of this report: Bloomberg, The Washington Post, Reuters, The New York Times, CBC News, and The Intercept.

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