{"id":84125,"date":"2024-07-27T01:00:12","date_gmt":"2024-07-27T08:00:12","guid":{"rendered":"https:\/\/lenpenzo.com\/blog\/?p=84125"},"modified":"2025-03-30T08:30:25","modified_gmt":"2025-03-30T15:30:25","slug":"black-coffee-27-july-2024","status":"publish","type":"post","link":"https:\/\/lenpenzo.com\/blog\/id84125-black-coffee-27-july-2024.html","title":{"rendered":"Black Coffee: Going for Gold"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-51224 alignright\" src=\"http:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2018\/10\/hurricane-flags.jpg\" alt=\"\" width=\"251\" height=\"240\" srcset=\"https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2018\/10\/hurricane-flags.jpg 404w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2018\/10\/hurricane-flags-300x287.jpg 300w\" sizes=\"auto, (max-width: 251px) 100vw, 251px\" \/><em>It&#8217;s time to sit back, relax and enjoy a little joe &#8230;<\/em><\/p>\n<p>Welcome to another rousing edition of Black Coffee, your off-beat weekly round-up of what&#8217;s been going on in the world of money and personal finance.<\/p>\n<p>I hope everybody had a wonderful week. And with that, let&#8217;s get right to this week&#8217;s commentary, shall we?<\/p>\n<blockquote><p><em>The choice is between trusting to the natural stability of gold and the honesty and intelligence of Government. And, with due respect for these gentlemen, I advise you, as long as the capitalist system lasts, to vote for gold.<\/em><\/p><\/blockquote>\n<p style=\"text-align: right;\"><strong>\u2013 George Bernard Shaw<\/strong><\/p>\n<p><strong>Credits and Debits<\/strong><\/p>\n<p><span style=\"color: #008000;\"><strong>Credit:<\/strong><\/span> Did you see this? Men are paying off their student loans <a href=\"https:\/\/wokespy.com\/men-are-paying-off-their-college-loans-way-faster-than-woman-and-its-all-due-to-their-choice-of-major\/\" target=\"_blank\" rel=\"noopener\">far quicker than women<\/a>, who are taking more than a decade to retire their debt, while seeing very little decline in their outstanding loans. For those who are wondering why, the simplest explanation is each sexes&#8217; predominant choice of college major. According to some, the highest paying majors are dominated by men, while the lowest paying are dominated by women. Makes sense. Oh, yeah &#8230; for those who are wondering, here&#8217;s another perplexing question. Thankfully, social media saved the day as somebody was kind enough to provide an answer:<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-84144\" src=\"http:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/TWEET-0-8.png\" alt=\"\" width=\"540\" height=\"486\" srcset=\"https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/TWEET-0-8.png 1218w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/TWEET-0-8-300x270.png 300w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/TWEET-0-8-1024x921.png 1024w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/TWEET-0-8-768x691.png 768w\" sizes=\"auto, (max-width: 540px) 100vw, 540px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-84154\" src=\"http:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/STUDENT-DEBT.png\" alt=\"\" width=\"540\" height=\"689\" srcset=\"https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/STUDENT-DEBT.png 810w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/STUDENT-DEBT-235x300.png 235w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/STUDENT-DEBT-802x1024.png 802w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/STUDENT-DEBT-768x980.png 768w\" sizes=\"auto, (max-width: 540px) 100vw, 540px\" \/><\/p>\n<p><span style=\"color: #ff0000;\"><strong>Debit:<\/strong><\/span> Then there\u2019s this: Did you know Great Britain\u2019s electricity bills are among the highest in the world? They are. In fact, Brits pay <a href=\"https:\/\/dailysceptic.org\/2024\/07\/19\/this-is-why-electricity-costs-twice-as-much-in-britain-as-in-the-usa\/\" target=\"_blank\" rel=\"noopener\">five times more<\/a> for their electricity than the Chinese, and twice as much as Americans. One of the biggest reasons: solar company subsidies designed to keep these economically unviable solar farms in business. Hey \u2026 I\u2019m not sayin\u2019. I\u2019m just sayin\u2019. That being said, there are those who continue to insist that it won\u2019t be long until the green energy revolution begins rocketing skyward. Or not \u2026<\/p>\n<p><iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/imkdz63agHY?&amp;controls=0&amp;start=0&amp;end=37\" width=\"560\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p><span style=\"color: #ff0000;\"><strong>Debit:<\/strong><\/span> Meanwhile, back on this side of the pond &#8230; a new study of multiple metropolitan US housing markets has found that, in more than one-third of the homes in those markets, homeowners were spending at least <a href=\"https:\/\/www.cbsnews.com\/news\/home-prices-sales-mortgage-affordable-housing\/\" target=\"_blank\" rel=\"noopener\">43% of their wages<\/a> on housing. That level is considered to be &#8220;seriously unaffordable\u201d by the study\u2019s authors. Hey \u2026 it\u2019s tough all over, folks. Whether we like it or not &#8230;<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-84140\" src=\"http:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/TWEET-0-6.png\" alt=\"\" width=\"540\" height=\"263\" srcset=\"https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/TWEET-0-6.png 1218w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/TWEET-0-6-300x146.png 300w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/TWEET-0-6-1024x499.png 1024w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/TWEET-0-6-768x375.png 768w\" sizes=\"auto, (max-width: 540px) 100vw, 540px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-84129\" src=\"http:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/DATE-50.png\" alt=\"\" width=\"540\" height=\"879\" srcset=\"https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/DATE-50.png 1156w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/DATE-50-184x300.png 184w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/DATE-50-629x1024.png 629w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/DATE-50-768x1250.png 768w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/DATE-50-943x1536.png 943w\" sizes=\"auto, (max-width: 540px) 100vw, 540px\" \/><\/p>\n<p><span style=\"color: #ff0000;\"><strong>Debit:<\/strong><\/span> On a related note, home evictions in the US are up more than 15% compared to the period before the pandemic, as Americans continue to struggle with rising prices. However, the problem is noticeably worse in Houston, Minneapolis-St. Paul, Las Vegas, and Gainesville, where the eviction rate is at least <a href=\"https:\/\/www.foxbusiness.com\/economy\/evictions-surging-rising-fastest-5-american-cities\" target=\"_blank\" rel=\"noopener\">40% higher<\/a> than it was before the pandemic started. It makes us wonder what&#8217;s wrong with this picture. And this one &#8230;<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-84161\" src=\"http:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/Untitled-36.png\" alt=\"\" width=\"540\" height=\"605\" srcset=\"https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/Untitled-36.png 918w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/Untitled-36-268x300.png 268w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/Untitled-36-914x1024.png 914w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/Untitled-36-768x860.png 768w\" sizes=\"auto, (max-width: 540px) 100vw, 540px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-84135\" src=\"http:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/TWEET-0-4.png\" alt=\"\" width=\"540\" height=\"150\" srcset=\"https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/TWEET-0-4.png 1218w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/TWEET-0-4-300x83.png 300w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/TWEET-0-4-1024x284.png 1024w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/TWEET-0-4-768x213.png 768w\" sizes=\"auto, (max-width: 540px) 100vw, 540px\" \/> <img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-84136\" src=\"http:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/TWEET-0A-1.png\" alt=\"\" width=\"540\" height=\"226\" srcset=\"https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/TWEET-0A-1.png 1218w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/TWEET-0A-1-300x126.png 300w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/TWEET-0A-1-1024x429.png 1024w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/TWEET-0A-1-768x322.png 768w\" sizes=\"auto, (max-width: 540px) 100vw, 540px\" \/><\/p>\n<p><span style=\"color: #ff0000;\"><strong>Debit:<\/strong><\/span> Speaking of inflation &#8230; the typical household is now spending <a href=\"https:\/\/www.cnn.com\/2024\/07\/23\/business\/inflation-cost-of-living-cnn-poll\/index.html\" target=\"_blank\" rel=\"noopener\">$925 more a month<\/a> to purchase the same goods and services than they did in the summer of 2021. Needless to say, we&#8217;re pretty sure that anybody who buys groceries, fills their car tank with gasoline, buys insurance, rents their home, pays for utilities &#8211; or shops at Dollar Tree &#8211; already knew that.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-84155\" src=\"http:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/COUNTERFEIT-MONEY.png\" alt=\"\" width=\"540\" height=\"462\" srcset=\"https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/COUNTERFEIT-MONEY.png 992w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/COUNTERFEIT-MONEY-300x256.png 300w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/COUNTERFEIT-MONEY-768x657.png 768w\" sizes=\"auto, (max-width: 540px) 100vw, 540px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-84138\" src=\"http:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/TWEET-0-5.png\" alt=\"\" width=\"540\" height=\"674\" srcset=\"https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/TWEET-0-5.png 1218w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/TWEET-0-5-240x300.png 240w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/TWEET-0-5-821x1024.png 821w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/TWEET-0-5-768x958.png 768w\" sizes=\"auto, (max-width: 540px) 100vw, 540px\" \/><\/p>\n<p><span style=\"color: #ff0000;\"><strong>Debit:<\/strong><\/span> Needless to say, it shouldn\u2019t be a surprise to anyone that a new survey of 80,000 small businesses in the US found that nearly half of them warn that they <a href=\"https:\/\/www.thecentersquare.com\/national\/article_f21bbed0-408b-11ef-a41b-2b74c6d21c06.html\" target=\"_blank\" rel=\"noopener\">will not survive<\/a> \u201cthe current economic climate or ongoing inflation.\u201d Then again, large corporations like Tesla are currently dealing with their own issues &#8230;<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-84142\" src=\"http:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/TWEET-0-7.png\" alt=\"\" width=\"540\" height=\"716\" srcset=\"https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/TWEET-0-7.png 1218w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/TWEET-0-7-226x300.png 226w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/TWEET-0-7-773x1024.png 773w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/TWEET-0-7-768x1018.png 768w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/TWEET-0-7-1159x1536.png 1159w\" sizes=\"auto, (max-width: 540px) 100vw, 540px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-84157\" src=\"http:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/Untitled-33.png\" alt=\"\" width=\"540\" height=\"536\" srcset=\"https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/Untitled-33.png 996w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/Untitled-33-300x298.png 300w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/Untitled-33-150x150.png 150w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/Untitled-33-768x762.png 768w\" sizes=\"auto, (max-width: 540px) 100vw, 540px\" \/><\/p>\n<p><span style=\"color: #008000;\"><strong>Credit:<\/strong><\/span> Last week, Russian Foreign Minister Sergey Lavrov once again reiterated that the process of <a href=\"https:\/\/tass.com\/politics\/1818277\" target=\"_blank\" rel=\"noopener\">de-dollarization can&#8217;t be stopped<\/a>, as many nations are now looking for an alternative to the US dollar (USD) in order to keep their long-term savings secure. Sadly, many <del><span style=\"color: #ff0000;\">people<\/span><\/del> shills are betting on the wrong horse &#8230;<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-84150\" src=\"http:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/TWEET-7.png\" alt=\"\" width=\"540\" height=\"104\" srcset=\"https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/TWEET-7.png 1226w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/TWEET-7-300x58.png 300w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/TWEET-7-1024x197.png 1024w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/TWEET-7-768x148.png 768w\" sizes=\"auto, (max-width: 540px) 100vw, 540px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-84151\" src=\"http:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/TWEETS.png\" alt=\"\" width=\"540\" height=\"162\" srcset=\"https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/TWEETS.png 1226w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/TWEETS-300x90.png 300w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/TWEETS-1024x307.png 1024w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/TWEETS-768x231.png 768w\" sizes=\"auto, (max-width: 540px) 100vw, 540px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-84160\" src=\"http:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/Untitled-35.png\" alt=\"\" width=\"540\" height=\"672\" srcset=\"https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/Untitled-35.png 1108w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/Untitled-35-241x300.png 241w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/Untitled-35-823x1024.png 823w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/Untitled-35-768x955.png 768w\" sizes=\"auto, (max-width: 540px) 100vw, 540px\" \/><\/p>\n<p><span style=\"color: #ff0000;\"><strong>Debit:<\/strong><\/span> Indeed, while while foreigners continue to purchase US Treasuries, the percentage of foreigners who own American government bonds continues to fall. In fact, a decade ago foreigners owned half of all US Treasuries; today <a href=\"https:\/\/sgp.fas.org\/crs\/misc\/RS22331.pdf\" target=\"_blank\" rel=\"noopener\">they hold just 30%<\/a> of US marketable debt. This is just more evidence that &#8211; when it comes to fiat currencies &#8211; the world is becoming increasingly dissatisfied with using the USD as its long-term store of value simply because it is the cleanest dirty shirt in the laundry. Somebody pass the soap \u2026<\/p>\n<p><iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/ciqSdgLh_1w?controls=0\" width=\"560\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p><span style=\"color: #008000;\"><strong>Credit:<\/strong><\/span> Conversely, according to Sprott, &#8220;central bank gold purchases continued at <a href=\"https:\/\/sprott.com\/insights\/sprott-q2-precious-metals-report-gold-s-record-setting-quarter-and-silver-s-resurgence\/\" target=\"_blank\" rel=\"noopener\">an elevated level<\/a> for the first quarter of 2024 with 289 tonnes, bringing the trailing seven-quarter average to 309 tonnes vs. the prior decade&#8217;s quarterly average of 126 tonnes, or 2.4-fold increase.\u201d Needless to say, they&#8217;re buying the yellow metal to protect their fiscal balance sheets; it&#8217;s just unfortunate that the general public sees no need to do the same. After all, holding a little physical gold is a far better way to protect your purchasing power than doing <em><strong>this<\/strong><\/em>:<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-84162\" src=\"http:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/Untitled-37.png\" alt=\"\" width=\"540\" height=\"504\" srcset=\"https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/Untitled-37.png 942w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/Untitled-37-300x280.png 300w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/Untitled-37-768x717.png 768w\" sizes=\"auto, (max-width: 540px) 100vw, 540px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-84128\" src=\"http:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/TWEET-0-3.png\" alt=\"\" width=\"540\" height=\"495\" srcset=\"https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/TWEET-0-3.png 1242w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/TWEET-0-3-300x275.png 300w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/TWEET-0-3-1024x938.png 1024w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/TWEET-0-3-768x704.png 768w\" sizes=\"auto, (max-width: 540px) 100vw, 540px\" \/><\/p>\n<p><span style=\"color: #ff0000;\"><strong>Debit:<\/strong><\/span> On a related note, we see that <em>Investopedia<\/em> published a new article last week on what would cause <a href=\"https:\/\/www.investopedia.com\/articles\/forex-currencies\/091416\/what-would-it-take-us-dollar-collapse.asp\" target=\"_blank\" rel=\"noopener\">a potential USD collapse<\/a> &#8211; and how it could play out. It wasn\u2019t too long ago the only places you\u2019d see articles like this was on tin foil hat blogs like this one. <em><strong>Now<\/strong><\/em> &#8220;dollar collapse&#8221; stories are springing up everywhere. Imagine that.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-84146\" src=\"http:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/TWEET-0-9.png\" alt=\"\" width=\"540\" height=\"527\" srcset=\"https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/TWEET-0-9.png 1218w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/TWEET-0-9-300x293.png 300w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/TWEET-0-9-1024x999.png 1024w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/TWEET-0-9-768x749.png 768w\" sizes=\"auto, (max-width: 540px) 100vw, 540px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-84159\" src=\"http:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/Untitled-34.png\" alt=\"\" width=\"540\" height=\"535\" srcset=\"https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/Untitled-34.png 1308w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/Untitled-34-300x297.png 300w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/Untitled-34-1024x1015.png 1024w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/Untitled-34-150x150.png 150w, https:\/\/lenpenzo.com\/blog\/wp-content\/uploads\/2024\/07\/Untitled-34-768x761.png 768w\" sizes=\"auto, (max-width: 540px) 100vw, 540px\" \/><\/p>\n<p><span style=\"color: #008000;\"><strong>Credit:<\/strong><\/span> We\u2019ll close this week with macro analyst Bill Holter, who is predicting that, \u201ca great change in &#8216;global currency&#8217; is about to occur\u201d and therefore you must own precious metals before it happens. As Holter explains, at that point, &#8220;You will either be <em><strong>in<\/strong><\/em>, <a href=\"https:\/\/billholter.com\/\" target=\"_blank\" rel=\"noopener\">or you will be <em><strong>out<\/strong><\/em><\/a>, likely for the remainder of your financial life.\u201d He&#8217;s right, you know. Sadly, those who will be on the outside looking in won&#8217;t realize their mistake until it is too late.<\/p>\n<p><strong>By the Numbers<\/strong><\/p>\n<p>Americans are projected to increase their collective credit card debt by $120 billion this year, and the grand total at nearly $1.3 trillion. With that in mind, a new study has determined the states where consumers take the longest to pay off credit card debt. Here are the five states with the longest &#8211; and shortest &#8211; payoff times:<\/p>\n<p><span style=\"color: #0000ff;\"><span style=\"font-size: x-large;\"><strong>50<\/strong><\/span><\/span> West Virginia <em>(shortest payoff time)<\/em><\/p>\n<p><span style=\"color: #0000ff;\"><span style=\"font-size: x-large;\"><strong>49<\/strong><\/span><\/span> Pennsylvania<\/p>\n<p><span style=\"color: #0000ff;\"><span style=\"font-size: x-large;\"><strong>48<\/strong><\/span><\/span> Nebraska<\/p>\n<p><span style=\"color: #0000ff;\"><span style=\"font-size: x-large;\"><strong>47<\/strong><\/span><\/span> South Dakota<\/p>\n<p><span style=\"color: #0000ff;\"><span style=\"font-size: x-large;\"><strong>46<\/strong><\/span><\/span> Utah<\/p>\n<p><span style=\"color: #0000ff;\"><span style=\"font-size: x-large;\"><strong>5<\/strong><\/span><\/span> Oregon<\/p>\n<p><span style=\"color: #0000ff;\"><span style=\"font-size: x-large;\"><strong>4<\/strong><\/span><\/span> New Mexico<\/p>\n<p><span style=\"color: #0000ff;\"><span style=\"font-size: x-large;\"><strong>3<\/strong><\/span><\/span> Colorado<\/p>\n<p><span style=\"color: #0000ff;\"><span style=\"font-size: x-large;\"><strong>2<\/strong><\/span><\/span> Vermont<\/p>\n<p><span style=\"color: #0000ff;\"><span style=\"font-size: x-large;\"><strong>1<\/strong><\/span><\/span> Alaska <em>(longest payoff time)<\/em><\/p>\n<p><em>Source: <a href=\"https:\/\/wallethub.com\/edu\/states-with-the-highest-and-lowest-credit-card-debts\/63822\" target=\"_blank\" rel=\"noopener\">Wallet Hub<\/a><\/em><\/p>\n<p><strong>The Question of the Week<\/strong><\/p>\n<p><code>[poll id=\"546\"]<\/code><\/p>\n<p><strong>Last Week&#8217;s Poll Results<\/strong><\/p>\n<p>Do you have a bumper sticker on any of your cars?<\/p>\n<ul>\n<li><strong>No (95%)<\/strong><\/li>\n<li>Yes (5%)<\/li>\n<\/ul>\n<p>More than 1800 Len Penzo dot Com readers responded to last week&#8217;s question and it turns out that just 1 in 20 of you have a bumper sticker on any of your cars. Not surprising &#8230; they seem to be less popular than they used to be. Why do you think that is?<\/p>\n<p>If <em><strong>you<\/strong><\/em>\u00a0have a question you&#8217;d like to see featured here, please send it to me at\u00a0<strong>Len@LenPenzo.com<\/strong>\u00a0and be sure to put &#8220;Question of the Week&#8221; in the subject line.<\/p>\n<p><strong>Useless News: Magic Tricks<\/strong><\/p>\n<p>Hillary Clinton and Donald Trump go into a bakery.<\/p>\n<p>As soon as they enter the bakery, Hillary steals three pastries and puts them in her pocket.<\/p>\n<p>She says to Donald, &#8220;See how clever I am? The owner didn&#8217;t see anything and I don&#8217;t even need to lie.\u201d I will definitely win the election.<\/p>\n<p>The Donald says to Hillary, &#8220;That&#8217;s the typical dishonesty you have displayed throughout your entire life, trickery and deceit. I am going to show you an honest way to get the same result.&#8221;<\/p>\n<p>Donald goes to the owner of the bakery and says, &#8220;Give me a pastry and I will show you a magic trick.&#8221; Intrigued, the owner accepts and gives him a pastry. Trump swallows it and asks for another one. The owner gives him another one. Then Donald asks for a third pastry and eats that, too.<\/p>\n<p>The owner is starting to wonder where the magic trick is and asks, &#8220;What did you do with the pastries?&#8221; Trump replies, &#8220;Look in Hillary&#8217;s pocket&#8221;<\/p>\n<p><em>(h\/t: Just the Facts via Zero Hedge)<\/em><\/p>\n<p><strong>Buy Me a Coffee? Thank You So Much!<\/strong><\/p>\n<p>For the best reading experience, I present all of my fresh Black Coffee posts without ads. If you enjoyed this week&#8217;s column, buy me a coffee! (Dunkin&#8217; Donuts; <em><strong>not<\/strong><\/em> Starbucks.) Thank you so much!<\/p>\n<form action=\"https:\/\/www.paypal.com\/donate\" method=\"post\" target=\"_top\"><input name=\"hosted_button_id\" type=\"hidden\" value=\"BAMGWUPS3YK7G\" \/><br \/>\n<input title=\"PayPal - The safer, easier way to pay online!\" alt=\"Donate with PayPal button\" name=\"submit\" src=\"https:\/\/www.paypalobjects.com\/en_US\/i\/btn\/btn_donateCC_LG.gif\" type=\"image\" \/><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.paypal.com\/en_US\/i\/scr\/pixel.gif\" alt=\"\" width=\"1\" height=\"1\" border=\"0\" \/><\/form>\n<p><span style=\"color: #ffffff;\"><strong>.<\/strong><\/span><\/p>\n<p><strong>More Useless News<\/strong><\/p>\n<p>Here are the top five articles viewed by my <strong>49,024<\/strong>\u00a0RSS feed, weekly email subscribers, and other followers over the past 30 days (excluding Black Coffee posts):<\/p>\n<ol>\n<li><a href=\"https:\/\/lenpenzo.com\/blog\/id40644-why-silver-may-be-the-most-undervalued-asset-in-the-world-2.html\" target=\"_blank\" rel=\"noopener\">Is Silver Undervalued? The Evidence Is Overwhelming<\/a><\/li>\n<li><a href=\"https:\/\/lenpenzo.com\/blog\/id21813-which-birth-dates-are-most-common-2.html\" target=\"_blank\" rel=\"noopener\">What Are the Most Common Birthdays?<\/a><\/li>\n<li><a href=\"https:\/\/lenpenzo.com\/blog\/id83860-a-look-at-the-benefits-of-italian-dual-citizenship.html\" target=\"_blank\" rel=\"noopener\">A Look at the Benefits of Italian DIY Citizenship<\/a><\/li>\n<li><a href=\"https:\/\/lenpenzo.com\/blog\/id34831-20-easy-ways-to-save-at-least-5-a-day-3.html\" target=\"_blank\" rel=\"noopener\">20 Easy Ways to Save $5 a Day<\/a><\/li>\n<li><a href=\"https:\/\/lenpenzo.com\/blog\/id37741-this-amazing-fruit-reduces-my-grocery-bill-by-400-dollars-every-year-2.html\" target=\"_blank\" rel=\"noopener\">This Blue Fruit Cuts $400 Off My Grocery Bill Every Year<\/a><\/li>\n<\/ol>\n<p>Hey, while you&#8217;re here, please don&#8217;t forget to:<\/p>\n<p>1. Subscribe to my weekly <strong>Len Penzo dot Com Newsletter!<\/strong> (It&#8217;s easy! See the big green box in the sidebar at the top of the page.)<\/p>\n<p>2. Make sure you follow me on my new favorite quick-chat site, <strong><a href=\"https:\/\/gab.com\/LenPenzo\" target=\"_blank\" rel=\"noopener\">Gab<\/a><\/strong>! Of course, you can always <a href=\"http:\/\/twitter.com\/LenPenzo\">follow me on Twitter<\/a>. Just be careful what you say there.<\/p>\n<p>3. <a href=\"http:\/\/www.facebook.com\/LenPenzo\" target=\"_blank\" rel=\"noopener noreferrer\">Become a fan of Len Penzo dot Com on Facebook<\/a> too!<\/p>\n<p>And last, but not least &#8230;<\/p>\n<p>4. <em><strong>Please support this website by patronizing my sponsors!<\/strong><\/em><\/p>\n<p>Thank you!!!! &#x1f60a;<\/p>\n<p><strong>Letters, I Get Letters<\/strong><\/p>\n<p>Every week I feature the most interesting question or comment \u2014 assuming I get one, that is. And folks who are lucky enough to have the only question in the mailbag get their letter highlighted here whether it\u2019s interesting or not! You can reach me at:\u00a0<strong>Len@LenPenzo.com<\/strong><\/p>\n<p>After reading a recent Len Penzo dot Com article offering <a href=\"https:\/\/lenpenzo.com\/blog\/id51960-4-tips-that-will-help-you-improve-your-credit-score.html\" target=\"_blank\" rel=\"noopener noreferrer\">tips to help you improve your credit score<\/a>, <strong>James Rosa<\/strong> left this comment:<\/p>\n<blockquote><p><em>I know how it feels to be frustrated by credit report issues. I paid a credit hacker but it didn&#8217;t work out for me. Then I decided to fix my own credit the old fashioned way &#8212; mainly by paying my bills on time.<\/em><\/p><\/blockquote>\n<p><span style=\"color: #0000ff;\">Good for you, James! Unlike that so-called &#8220;credit hacker,&#8221; you can be sure that self-reliance and personal responsibility will never let you down.<\/span><\/p>\n<p><strong>If you enjoyed this, please forward it to your friends and family. &#x1f60a;<\/strong><\/p>\n<p>I&#8217;m Len Penzo and I approved this message.<\/p>\n<p style=\"text-align: right;\"><span style=\"font-size: smaller;\">Photo Credit: public domain<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>It&#8217;s time to sit back, relax and enjoy a little joe &#8230; Welcome to another rousing edition of Black Coffee, your off-beat weekly round-up of what&#8217;s been going on in the world of money and personal finance. I hope everybody had a wonderful week. And with that, let&#8217;s get right to this week&#8217;s commentary, shall [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":51224,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","pmpro_default_level":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[472],"tags":[],"class_list":{"0":"post-84125","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-commentary","8":"pmpro-has-access","9":"entry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Black Coffee: Going for Gold<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/lenpenzo.com\/blog\/id84125-black-coffee-27-july-2024.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Black Coffee: Going for Gold\" \/>\n<meta property=\"og:description\" content=\"It&#8217;s time to sit back, relax and enjoy a little joe &#8230; Welcome to another rousing edition of Black Coffee, your off-beat weekly round-up of what&#8217;s been going on in the world of money and personal finance. 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