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.
Luongo is a complete idiot, and all his international opinions have GIANT holes in them. He talks about Xi and Putin as if he has daily conference calls with them, but he's just another typical American who (like ZeroClue) has made 'being contrarian' into a business model.
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.
My big question is this: If CBDC is coming for us, how are my gold and silver physical metals going to help me? If the government makes it illegal to hold or use in transactions, will the value of my physical metal holdings decrease? It is almost as if one has to go off the grid and use the black market if they want to use gold/silver and not CBDC.
I always like to compare the situation to Russia in 1917. Imagine you lived in Russia just before the communist revolution in 1917 and are 30-40 years old and have some savings in the bank.
Buying gold and staying in Russia would probably not have helped, because you'd have Io wait >70 years before the system would collapse. The same goes for 'safeguarding' your money by buying Russian stocks in 1917: all your money would have been confiscated.
What we're dealing with here is not ONLY an economic collapse, but also an IDEOLOGICAL transformation to CommuFascism.
This is something that most people like Peter Schiff who are pumping gold or (gold mining 😱) stocks 24-7 just don't want to understand because they are CLUELESS about history. They are unable to connect the dots because they don't travel, and if they do travel they don't speak any languages so they are unable to truly connect to the local mentality by limiting conversations to superficial chitchat. They fail to see how this is ALL connected and synchronised.
p.s. gold is down again (rapidly approaching the $1830 mark) but this won't stop Peter Schiff from admitting that he was wrong. Instead he'll just do the same thing as the Political Establishment does: keep on doubling down on a failed strategy. Perhaps one day he'll be right, and then he'll make one of those "Peter Schiff was right" videos, failing to mention how many times and how many YEARS he was wrong.
@Fulgurite - I looked up the situation in Bolshevik Russia back in 1917 or so...looks like monetary system was completely toast and folks were on the barter system. My guess is anyone using gold or silver was reported and dealt with. The big question would be WHO could you trust to transact in gold and silver? Given the complete domination of Russia and the looting of wealth by the regime, the only option for folks would be to leave Russia. So, if there is an ideological transformation in the US, moving to Mexico would be the best option. Gold may get you over the border...if that.
“...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?
I was wondering the same thing. There are multiple gold exchanges and I do see some difference in prices between them, but not $75 difference. I have a decent percent of my assets in gold and silver along with the miners. I took the hit last week, but feel no panic. We have watched this game being played for the last 60 plus years. Gold is forever real money.
It's the usual clickbait for people who want to have their confirmation bias reconfirmed one more time, LOL! Just read the comments: most people are too stupid to READ the article and then THINK if everything in the article actually makes any sense.
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.
Luongo is a complete idiot, and all his international opinions have GIANT holes in them. He talks about Xi and Putin as if he has daily conference calls with them, but he's just another typical American who (like ZeroClue) has made 'being contrarian' into a business model.
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.
My big question is this: If CBDC is coming for us, how are my gold and silver physical metals going to help me? If the government makes it illegal to hold or use in transactions, will the value of my physical metal holdings decrease? It is almost as if one has to go off the grid and use the black market if they want to use gold/silver and not CBDC.
Exactly!
I always like to compare the situation to Russia in 1917. Imagine you lived in Russia just before the communist revolution in 1917 and are 30-40 years old and have some savings in the bank.
Buying gold and staying in Russia would probably not have helped, because you'd have Io wait >70 years before the system would collapse. The same goes for 'safeguarding' your money by buying Russian stocks in 1917: all your money would have been confiscated.
What we're dealing with here is not ONLY an economic collapse, but also an IDEOLOGICAL transformation to CommuFascism.
This is something that most people like Peter Schiff who are pumping gold or (gold mining 😱) stocks 24-7 just don't want to understand because they are CLUELESS about history. They are unable to connect the dots because they don't travel, and if they do travel they don't speak any languages so they are unable to truly connect to the local mentality by limiting conversations to superficial chitchat. They fail to see how this is ALL connected and synchronised.
p.s. gold is down again (rapidly approaching the $1830 mark) but this won't stop Peter Schiff from admitting that he was wrong. Instead he'll just do the same thing as the Political Establishment does: keep on doubling down on a failed strategy. Perhaps one day he'll be right, and then he'll make one of those "Peter Schiff was right" videos, failing to mention how many times and how many YEARS he was wrong.
@Fulgurite - I looked up the situation in Bolshevik Russia back in 1917 or so...looks like monetary system was completely toast and folks were on the barter system. My guess is anyone using gold or silver was reported and dealt with. The big question would be WHO could you trust to transact in gold and silver? Given the complete domination of Russia and the looting of wealth by the regime, the only option for folks would be to leave Russia. So, if there is an ideological transformation in the US, moving to Mexico would be the best option. Gold may get you over the border...if that.
“...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?
I was wondering the same thing. There are multiple gold exchanges and I do see some difference in prices between them, but not $75 difference. I have a decent percent of my assets in gold and silver along with the miners. I took the hit last week, but feel no panic. We have watched this game being played for the last 60 plus years. Gold is forever real money.
It's the usual clickbait for people who want to have their confirmation bias reconfirmed one more time, LOL! Just read the comments: most people are too stupid to READ the article and then THINK if everything in the article actually makes any sense.
For whatever it's worth - I agree with this completely and am positioned for it as well. Just this mans opinion.