Cryptocurrency advocates have long maintained that the primary benefit of “cryptos” is that they are not centrally controlled, actually residing on cell phones. Transfers from one holder to another do not go through a “central bank,” such as the Fed, but from one phone to another. This was supposed to be beyond the reach of
The business channels were all aglow last week when the Bureau of Economic Analysis (BEA) reported that the Gross Domestic Product grew by 3.2% in the 1st quarter. Trump supporters were ecstatic. However, yesterday GDPNow, an analysis based a methodology similar to the one used by the BEA, posted a projected increase of only 1.2%
As 2019 rolls around, advertisements will abound with promotions of 2019-dated gold and silver coins. Many ads will promote First Release or Early Release gold coins at prices hundreds of dollars above the price of bullion coins. In truth, First Release and Early Release coins are only bullion coins that have been “slabbed” (put in
Millennials, It was astonishing that when Ron Paul dropped out of the 2012 presidential race many of his followers jumped to supporting Bernie Sanders, an avowed socialist. Ron Paul, of course, is a libertarian who rails against socialism in all forms.
I noted the correlation between gold ETFs buying or selling gold and the price of gold In my January 10, 2018 post ETFs, central banks buy gold in 2017; sign of higher prices?. The correlation is eerie. Now, Adam Hamilton, a longtime prolific contributor to Gold-Eagle.com, has written a valuable article, Radical Gold Underinvestment, about
Jacinda Ardern is New Zealand’s new Prime Minister. She is 37 and once was presidentPri of the International Union of Socialist Youth. She believes capitalism to be a blatant failure. Ardern is also a DJ.
Last week Germany’s central bank pompously announced that it had completed its repatriation of $31 billion in gold from Paris and New York, ridiculing earlier speculation that the gold had somehow been compromised. A widely circulated theory was that Germany’s gold had been borrowed by bullion houses and delivered against futures contracts that were sold
The decline of a nation’s money often parallels the decline of the nation. Rome’s money stands as the classic example; Great Britain’s pound is the contemporary example.
Four men, ages 18 to 20, were arrested and charged with the March theft of a 100-kilogram gold coin from the Bode Museum, Berlin, Germany.
There are many dangers–not to mention moral issues–of money created out of “thin air.” One of the dangers is that it distorts the markets and results in bad investments during “booms,” which inevitably turn to “busts.” During the busts, the bad investments wash out. Another is that it is easy to use. The economy slows,