Submitted by Steve Brown…
Gold’s meteoric price rise is more about the US dollar’s crash far more than sovereigns and central banks just hoarding gold. Check out the one-month US dollar index here:
https://www.bloomberg.com/quote/DXY:CUR
From Ochelli.com No Mike Swanson this week. So keeping with the Tuesday tradition on the show of being highly informative, Chuck and Pearse packed as much news and information into two hours as they could From Bill Barr on Capital Hill to Explosions in Iran, Porkins and Ochelli covered the wild world on sportsman-like conduct […]
Well, now you can add gold fraud to the Wuhan woes coming from Communist China, and that at a time when the global economy […]
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Submitted by Steve Brown…
A popular meme in the Panic of 2020 asks, if gold is such a bellwether, why has its price not greatly increased? …and indeed, gone down. The reason why is at the heart of why Modern Monetary Theory — now forcibly embraced — is doomed to fail.
Prices of precious metals plunged this week again, as investors fled reserve stores in favor of cash in the wake of extreme market volatility due to panic selling over fears and uncertainty due to the coronavirus epidemic.
Gold fell below $1,455 an ounce on this morning, down from a high $1,560 over the weekend. Today’s loss was the biggest single day price drop since 1983.
Ever since the arrival of leading cryptocurrency Bitcoin on the monetary scene over a decade ago, financial experts have speculated whether this new virtual currency might one day supplant the primacy of nationally-issued sovereign money. Due to the transformative power of its distributed ledger, or “blockchain” technology, cryptocurrencies like Bitcoin have been able to bypass the US dollar-dominated central banking and credit system by providing a low cost peer-to-peer money transfer alternative. But is it enough to tip the global scales?
“A date which will live in infamy.” Indeed, today marks the 78th anniversary of the attack on Pearl Harbor in Hawaii, which opened the door for the United States to enter World War II. urn on your TV and you will see military mavens rambling on, pontificating about ‘the defense of the realm’, all the while completely aloof and unaware of the American empire’s real Achilles heel.
