Read Tom Luongo, Gold Goats and Guns and his recent podcast on gold. But his “Theory of Everything” is essentially that Powell’s higher interest rates are targeted to kill the offshore “eurodollar” and you’ve provided the sense of scale I needed. Far bigger than the domestic market. I believe the TOL calls for those USDs to come running home, to the extent they are not wiped out by ridiculously high leverage. The German Bond’s interest rate is a joke. As is Japan’s. These are interesting times.
I visited Russia 2 months ago, and guess what: gold, silver or crypto didn't help me. You know what helped me? Fiat cash in the form or Euros that I deposited into a Russian bank account that I quickly opened just for my visit! LOL!
Seriously guys, if anyone here thinks that ANY government in the world will introduce a gold standard then you are completely deluded and-or you havent travelled enough and-or you know anything about history.
PERHAPS China and Russia will at some point introduce some kind of TEMPORARY gold standard to break the Western financial system if they feel pushed too far into a corner (Jim Rickards has talked about this when he was a consultant for the CIA and participated in a financial war game), but FORGET about this being available to the average Joe or Ivan Sixpack. For us peasants it's CBDCs: Russia has already launched a digital Ruble, China already has a digital Yuan, and soon the Euro and USD will follow. https://youtu.be/b5S7PGr_xvs
All this "dedollarsation" bullshit is just that: bullshit, and it usually comes from Americans/Canadians who barely travel outside their own borders. When they do travel, they look at the world through their American lens, and completely lack any language skills and cultural sensitivity to truly understand how other countries tick.
There are huge defensive advantages to living in a nation that has two giant oceans on both sides, but you also have to accept the downsides, which is that is that most citizens don't really understand much of the rest of the world.
“...gold and silver fell on the back of its hawkish statement before recovering slightly. In Europe this morning, gold was $1926 up a net $2 from last Friday’s close.”
Gold I closed at $1848 last Friday the 29th of September, how old is this article?
Read Tom Luongo, Gold Goats and Guns and his recent podcast on gold. But his “Theory of Everything” is essentially that Powell’s higher interest rates are targeted to kill the offshore “eurodollar” and you’ve provided the sense of scale I needed. Far bigger than the domestic market. I believe the TOL calls for those USDs to come running home, to the extent they are not wiped out by ridiculously high leverage. The German Bond’s interest rate is a joke. As is Japan’s. These are interesting times.
The juniors, at least some of them, are getting creamed, good time to load up.
Schiff is the man, need to have him on again soon. I'd love to hear you guys talk about is bank closure too.
I visited Russia 2 months ago, and guess what: gold, silver or crypto didn't help me. You know what helped me? Fiat cash in the form or Euros that I deposited into a Russian bank account that I quickly opened just for my visit! LOL!
Seriously guys, if anyone here thinks that ANY government in the world will introduce a gold standard then you are completely deluded and-or you havent travelled enough and-or you know anything about history.
PERHAPS China and Russia will at some point introduce some kind of TEMPORARY gold standard to break the Western financial system if they feel pushed too far into a corner (Jim Rickards has talked about this when he was a consultant for the CIA and participated in a financial war game), but FORGET about this being available to the average Joe or Ivan Sixpack. For us peasants it's CBDCs: Russia has already launched a digital Ruble, China already has a digital Yuan, and soon the Euro and USD will follow. https://youtu.be/b5S7PGr_xvs
Remember how all the goldbugs were getting their panties in a twist back in March 2022 (just after Russia started the SMO in Ukraine) about how 'Russia will introduce a gold standard' and how (supposedly) Russia pegged 1 gram of gold to 5000 Rubles? Well...? What happened to that? Spoiler alert: NOTHING! Here's a reminder from ZeroClue who hides all their old junk behind a paywall, probably because otherwise it would be too embarrassing: https://www.zerohedge.com/markets/new-gold-standard-kremlin-confirms-intention-back-ruble-gold-and-commodities and here's another article throwing BitCON (🤣) into the mix for good measure: https://www.zerohedge.com/news/2022-03-25/russia-just-told-us-ruble-implicitly-backed-gold-and-bitcoin
All this "dedollarsation" bullshit is just that: bullshit, and it usually comes from Americans/Canadians who barely travel outside their own borders. When they do travel, they look at the world through their American lens, and completely lack any language skills and cultural sensitivity to truly understand how other countries tick.
There are huge defensive advantages to living in a nation that has two giant oceans on both sides, but you also have to accept the downsides, which is that is that most citizens don't really understand much of the rest of the world.
“...gold and silver fell on the back of its hawkish statement before recovering slightly. In Europe this morning, gold was $1926 up a net $2 from last Friday’s close.”
Gold I closed at $1848 last Friday the 29th of September, how old is this article?
For whatever it's worth - I agree with this completely and am positioned for it as well. Just this mans opinion.