Before he was appointed chair of the Federal Reserve, Alan Greenspan was a “goldbug.” He didn’t just believe that at times gold was a good investment. He believed that gold was the foundation of an economic system (read below).
Gold-backed ETFs and similar products added 52 tons of gold in July, in addition to the 125 tons added in June, increasing their collective holdings to 2,600 tons – a level not seen since March 2013. ETFs are preferred by many institutional and large investors, while smaller investors (and some large investors) like to buy
Record-breaking central bank and ETF buying boosted 2019’s first half demand to a three-year high, according to the World Gold Council. Also contributing to demand was a more positive environment for Indian consumers, which have always been big jewelry buyers.
By many measures, the world’s economy is slowing, and some CBs — namely New Zealand, India, Malaysia, and the Philippines — have already lowered rates. Australia lowered June 4, the largest developed country to cut rates this year. In May, China lowered reserve requirements for small- and medium-sized banks, which pushed interest rates there to
Trump is committed to tariffs. If he were levying tariffs on only China, that would be bad enough as China is one of the tech manufacturing centers of the world. But, Trump is not going after only China. He has implemented tariffs on products imported from nations that have long been friendly, such as Canada,
After having said on TV that gold is “his favorite investment” over the next 12–24 months, Paul Tudor Jones bought $82 million in gold shares, as reported by Bloomberg. Earlier in June, Jeffrey Gundlach, known as the “Bond King,” said, “I am certainly long gold.” Gundlach sees a recession on the horizon, and he expects
Herbert Hoover’s name is generally held with derision because he is blamed for the Great Depression. However, here’s one HH statement that all should agree with: “We have gold because we cannot trust governments.” Basically, a gold standard fails as a monetary system because the government is involved.
Since Nixon closed the gold window August 15, 1971, three massive bull market have rewarded precious metals believers handsomely. Each of these bull market runs have been preceded by reckless financial policies.
In this clip, billionaire investor Paul Tudor Jones talks about gold being the investment for the next 12 to 24 months. In fact, he states that gold “has everything going for it.” A few days later, Bloomberg reported that Tudor pulled the trigger on an $82 million purchase of gold-related shares.
The U.S. student load system is broken. Borrowers currently owe more than $1.5 trillion, an average of $34,000 per borrower. Over two million of them have defaulted on their loans in just the past six years, and the number grows by 1,400 a day. The federal government now acknowledges that taxpayers stand to lose $31.5