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
Want a reliable indicator of where the economy is headed? Look no further than the chart below.
The Fed (specifically, FOMC: federal open market committee) has been manipulating interest rates for decades. David Stockman says since 1973, which was only two years after Nixon “closed the gold window.” With the Treasury no longer having to redeem dollars in gold, massive dollar printing began, first in small amounts (millions) but by 2008 in
The video “Why economic collapse never comes” was viewed more than 47,000 times before it was pulled with no explanation givern. In short, it said that economic collapse never comes because of the Establishment’s ability to create money out of thin air. True, the Fed’s ability to create money can forestall economic declines, but the
Worldwide demand for gold rose 6.2 tons year-over-year in Q3, led by robust central bank buying of 148.4 tons, the highest level of quarterly new purchases since 2015, reports the World Gold Council. Bar and coin demand by individual investors climbed 298 tons.
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.
In the irony of ironies, the central bank of Switzerland recently bailed out the manufacturer of the polymer material used in the new Swiss 10-franc notes. Swiss National Bank purchased a 90% stake in Landqart AG after the company got into financial difficulties. The SNB is known for its huge investments in equities, with Apple,
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.
New York Fed President William Dudley said that he supports another rate hike this year if the economy “evolves as he expects.” He also thinks it’s reasonable for the Fed to start selling part of its $4.5 trillion portfolio, which it accumulated through several quantitative easing programs.
For only the second time in 44 years, I’m recommending old US gold coins. The other time was in the 1990s.