Tuesday last week, India’s Prime Minister Narendra Modi demonetized 86% of the money in circulation, except for special uses. Ostensibly, it was a move to check black money, i.e., counterfeit money, money that was gotten through graft or corruption and money on which taxes had not been paid. In the four trading days following the
The biggest problem with paper money is that it can be created at will; and history shows that whenever paper money is disconnected from gold, it is eventually printed until it is worthless. Sometimes its destruction comes quickly, some over decades. The second biggest problem with paper money is that it can be cancelled by
Friday’s issues of the New York Times and the Financial Times painted glowing pictures for the US jobs market, based on October’s 161,000 jobs added. A quick investigation calls their conclusions into question.
The primary reason for owning gold and silver is the expectation of price inflation. Inflation, of course, comes from money creation at the Fed. However, as what is now often called the World Financial Crisis showed, gold and silver do well in times of financial crises. Here, though, let’s look at a very good indicator
At CMI Gold & Silver Inc. we believe that central bank activity is driving the markets — the metals and the stocks. Expectations of loose money mean higher metals prices (in anticipation of increased rates of inflation) and higher stock prices (in hopes that the stimulus will fillip the economy). As for the latter, there
A little over a year ago, the IMF announced that the renminbi, China’s currency, would be added the IMF’s “basket of currencies” that makes up SDRs (Special Drawing Rights). A loud outcry ensued from many pro-gold analysts that the inclusion would mean the end of the dollar as the world’s reserve currency and would result
Congress’ historic overriding of Obama’s veto of the bill that will allow the families of 9/11 victims to sue Saudi Arabia for its alleged role in the terrorist attacks — intentional or inadvertent — has potentially dangerous ramifications for the US but could result in a really positive effect for the price of gold.
The official federal government debt now stands just a tad over $19.5 trillion. Yet few talk about it, and even fewer are concerned. Off-balance sheet liabilities (commitments that have been made but funds not set aside for) are some where north of $100 trillion dollars. Rarely talked about.
From Dow Theory Letters, September 21, 2016: “Good news today from both the Fed and the Bank of Japan (BOJ). The Fed announced no rate increases for now, though hinted (or teased, to be honest) that one would come later in the year. In Japan, the BOJ said it would continue an easy monetary policy
Gold and silver have enjoyed huge upside moves so far in September, despite falling short of posting new highs for the year. Still, gold is up 24% on the year and silver 40%. One of the reasons for renewed interest in the metals is the failure of the European Central Bank’s €80 billion a month
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