The Briefing Room
General Category => Economy/Business => Topic started by: catfish1957 on April 02, 2024, 03:07:24 pm
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(https://i.makeagif.com/media/9-08-2015/LdLNsI.gif)
Freakin' Gold is up to $2287/oz at this exact moment!!!!!!!!!
This sudden basic subtle currency devaluation of is a flashing danger sign of the effects of inlflation aand wreckless fiscal policy.
And barely being covered by the media. Next step? Watch for hperinflation
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(https://i.makeagif.com/media/9-08-2015/LdLNsI.gif)
Freakin' Gold is up to $2287/oz at this exact moment!!!!!!!!!
This sudden basic subtle currency devaluation of is a flashing danger sign of the effects of inlflation aand wreckless fiscal policy.
And barely being covered by the media. Next step? Watch for hperinflation
I saw that
And both sides in this presidential campaign are eager to dismiss discussions regarding the unsustainable fiscal and monetary policy and its effects
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(https://i.makeagif.com/media/9-08-2015/LdLNsI.gif)
Freakin' Gold is up to $2287/oz at this exact moment!!!!!!!!!
This sudden basic subtle currency devaluation of is a flashing danger sign of the effects of inlflation aand wreckless fiscal policy.
And barely being covered by the media. Next step? Watch for hperinflation
This is huge ... thanks for the info.
Interesting that there are those that think that this country is doing just fine. *****rollingeyes*****
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Not unexpected. It's always been a matter of when and not if.
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As for hyperinflation that is going to be a huge problem for many. We are just keeping it together and I don't look forward to having to stretch dollars even further as they can only be stretched so far.
Hey -- no worries -- on top of that we'll be having to support all the ILLEGALS that Joe let in.
Can anyone spell economic collapse? Will it be felt globally or will we see a reset as to who the dominant currency is?
Also, would going back to the gold standard at that point in time, be feasible??
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Well, an economic crash will take care of the inflation problem
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Well, an economic crash will take care of the inflation problem
...and then what? It's not like things will be back to normal; economic crash = chaos in the streets.
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Closed at $2,303.90
*bouche*
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...and then what? It's not like things will be back to normal; economic crash = chaos in the streets.
Why?
This country has a history of recessions, panics, economic crashes, economic depressions
And we go on. And what does back to normal mean?
We will recover. The issue is not the economic crash. The issue is what government does about it. Instead of just letting market forces work its way, we’ve had stimulus, bailouts, regulations…
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Closed at $2,303.90
*bouche*
This is the magic of the market. Despite the Biden administration bullshitting that everything is hunky-dory, people with money on the line are worried
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Closed at $2,303.90
*bouche*
Whoa. The DOW retreated as well. I wouldn't be making any big purchases with a loan attached and if you have any debt, pay it down as quickly as possible.
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This is the magic of the market. Despite the Biden administration bullshitting that everything is hunky-dory, people with money on the line are worried
How could anyone believe that everything is just hunky-dory?? It's a no brainer that things are pretty bad. Gold shooting up this high, this quickly....something is a brewin'.
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Gee-- anyone still think that we shouldn't have gone back to the gold standard a long while ago???
Gold price hits new record highs as the West loses price-setting powers: Frank Giustra & Pierre Lassonde on new geopolitical reality & resource nationalism
As gold set another record high, Canadian mining legends Frank Giustra, CEO of Fiore Group, and Pierre Lassonde, Chairman Emeritus at Franco-Nevada, say the West has lost its power to set the price of gold. Giustra and Lassonde also warn that in the new geopolitical reality of resource nationalism, Canada is failing its economy and citizens.
With gold futures hitting another record high of above $2,264 an ounce at the start of the second quarter, Giustra and Lassonde pointed to a major shift in the gold market.
"The world hasn't woken up yet. The marginal buyer of gold is no longer the U.S. It's no longer Europe. It's China. Between the country's central bank and the Chinese public, China takes up over two-thirds of all the annual production. They are the new marginal buyer. That's where the gold price is set," Lassonde told Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News, during Kitco Insights Interactive Mining Titans' Power Panel.
For what this means for the U.S. dollar and gold this year and beyond, watch the video above.
BRICS Plus, which now includes Brazil, Russia, India, China, South Africa, Saudi Arabia, Egypt, Ethiopia, Iran, and the United Arab Emirates, can get up one morning and say they are going "to back their collective new currency with gold," which they can now set to create more credit and reserves, Giustra pointed out.
A coordinated move by the BRICS Plus against the U.S. dollar could lead to violent results, he warned.
"No one wants war, but here's the problem — the U. S. is facing an existential threat. It's a national security issue," Giustra said. "If there's a sudden move towards replacing the U.S. dollar, meaning perhaps a BRICS announcement of a new currency [backed by] gold, I think then it would react quite violently."
https://www.kitco.com/news/article/2024-04-01/gold-price-hits-new-record-highs-west-loses-price-setting-powers-frank
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How could anyone believe that everything is just hunky-dory?? It's a no brainer that things are pretty bad. Gold shooting up this high, this quickly....something is a brewin'.
Welcome to unsustainable deficits and record-breaking currency printing
I’m actually watching this new Argentina president with great interest.
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Welcome to unsustainable deficits and record-breaking currency printing
I’m actually watching this new Argentina president with great interest.
(I haven't paid any attention to Argentina's president -- I'll have to do a little research).
Based on the article I posted upthread -- the U.S. economy is perhaps getting ready to collapse? Brandon & Company have been hard at work.
What is troubling is that in September a U.N. summit will be held in which the U.N. is asking for global emergency powers. Gee, what a coincidence?
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This is the magic of the market. Despite the Biden administration bullshitting that everything is hunky-dory, people with money on the line are worried
The combo of:
* an 150% oversold DOW (should be at about 15K)
* False reporting of CPI
* Debt to GDP ratio of 130%, and now over 100% for 12 years.
* Persisitent inflation even with high interest rates
* Historic persisitent low mfg,/GDP ratios.
* Most of the market with high P/E ratios given unrealistic sustianable growth and profitability.
All of these together are unprecedented. The fact we keep kicking the can down the road by mfg debt can't go on forever. The fact that Gold is rocketing up, is not a function of demand or inherent value of the metal. When actually the metal is a fixed asset, where the countries economics and faith in its currency is the metric.
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The combo of:
* an 150% oversold DOW (should be at about 15K)
* False reporting of CPI
* Debt to GDP ratio of 130%, and now over 100% for 12 years.
* Persisitent inflation even with high interest rates
* Historic persisitent low mfg,/GDP ratios.
* Most of the marker with high P/E ratios given unrealistic sustianable growth and profitability.
All of these together are unprecedented. The fact we keep kicking the can down the road by mfg debt can't go on forever. The fact that Gold is rocketing up, is not a function of demand or inherent value of the metal. When actually the metal is a fixed asset, where the countries economics and faith in its currency is the metric.
The fact that China is buying up gold and are trying to convince others to go to the gold standard is worrisome as it is doubtful that the U.S. has as much gold on hand as they claim and it would also inevitably mean the devaluation of the dollar or knocking the dollar out as the dominating currency.
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The fact that China is buying up gold and are trying to convince others to go to the gold standard is worrisome as it is doubtful that the U.S. has as much gold on hand as they claim and it would also inevitably mean the devaluation of the dollar or knocking the dollar out as the dominating currency.
Exactly... I've heard rumblings that the $40T deficit mark may be the triggering mechanism to force our hand that our currency standing is unsustainable. At or about that time, I expect a coupled BRICS-Gold Standard to be implemented, and the nation's particpation, will be like a 200+ nation domino. With those laggers, being hurt the most.
If and when that happens, the $USD will be floated against the BRICS, and I am guessing when we are no longer the reference currency, our currency evaluation will fall off a cliff. Perceivably, we and other highly leveraged countries could go from a world economic powers to 3rd world within a year.
This $2300/oz Au is not the cause, but the symptom.
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I don't see any opportunities to buy gold in the near future -- it's going to continue to climb.
Gold sees technical selling pressure as weekly jobless claims rise to a nine-week high
The gold market continues to test initial support at $2,300 an ounce and not attracting any new bullish momentum even as the U.S. labor market shows signs of weakening.
Initial claims for state unemployment benefits increased by 9,000 to a seasonally adjusted 221,000 for the week ended March 30, the Labor Department said Thursday.
The employment data was weaker than expected. According to consensus estimates, economists had forecast to remain relatively steady at 212,000. The previous week’s claims were revised up slightly to 212,000.
Weekly jobless claims have risen to their highest level since early February.
The gold market is not seeing much reaction to the latest employment data. June gold last traded at $2,304.90 an ounce, down 0.44% on the day.
According to some analysts gold’s price action is not surprising; the precious metal is seeing some technical selling pressure after hitting a fresh all-time high of $2,324.80 an ounce.
https://www.kitco.com/news/article/2024-04-04/gold-sees-technical-selling-pressure-weekly-jobless-claims-rise-nine-week
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Exactly... I've heard rumblings that the $40T deficit mark may be the triggering mechanism to force our hand that our currency standing is unsustainable. At or about that time, I expect a coupled BRICS-Gold Standard to be implemented, and the nation's particpation, will be like a 200+ nation domino. With those laggers, being hurt the most.
If and when that happens, the $USD will be floated against the BRICS, and I am guessing when we are no longer the reference currency, our currency evaluation will fall off a cliff. Perceivably, we and other highly leveraged countries could go from a world economic powers to 3rd world within a year.
This $2300/oz Au is not the cause, but the symptom.
This speaks volumes .... how much is the U.S. purchasing?
Central banks buy 19 tonnes of gold in February, purchases slow but remain healthy – World Gold Council
https://www.kitco.com/news/article/2024-04-03/central-banks-buy-19-tonnes-gold-february-purchases-slow-remain-healthy
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It's the 1970s all over again ...
(https://goldprice.org/charts/gold_10_year_o_usd_x.png)
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It's the 1970s all over again ...
(https://goldprice.org/charts/gold_10_year_o_usd_x.png)
It's going to get a lot worse. Those who were responsible and accumulated some $$ will be lucky to survive what's coming.
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It's going to get a lot worse.
I am afraid so. Anyone who owns gold is glad to see the metal soar, but the reason behind that rise...not so much.
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It certainly doesn't appear that the U.S. is following such an increase. (I may be interpreting the chart wrong).
https://www.ceicdata.com/en/indicator/united-states/gold-reserves
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Gold plows to record high after Powell's remarks
"Gold surged to yet another historic high on elevated trading volume after Powell stresses that 'bumps' in the road don't change the overall rosy picture," said Tai Wong, a New York-based independent metals trader.
"Powell's customary cautious approach doesn't worry gold bulls...I think bulls want to see $2,300 and I think more 'tourists' are getting involved in the trade."
Powell said that "if the economy evolves broadly as we expect," he and his Fed colleagues largely agree that a lower policy interest rate will be appropriate "at some point this year."
Investors still expect a first rate cut at the Fed's June 11-12 policy meeting, even as stronger recent economic data has sown investor doubts about that outcome.
Gold, a hedge against inflation and a safe haven during times of political and economic uncertainty, has climbed over 11% so far this year, helped by strong central bank buying and safe-haven demand.
The U.S. jobs report for March is due to be released on Friday, with new inflation data coming next week...............
https://www.reuters.com/markets/commodities/gold-smashes-record-again-us-inflation-worries-loom-2024-04-03/
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The Biden Admin has a talent for dismissing anything they don't like to hear to be transitory boulderdash.
If the Fed raises rates, too much too fast, banks collapse. The inverted short end of the Yield Curve is evidence of a liquidity crunch.
Green New (Screw) Deal / Global Climate Change (Fraud) is artificially constraining the supply of the most efficient sources of energy, thus, causing energy inflation / reduced energy production efficiencies.
Too few large companies have pricing prower via their oligopolies, dualopolies, monopolies, and anti-competitive business practices.
The Goverment alphabet soup of regulation agencies are regulating efficiencies out of industries, leading to constrained supplies and higher prices.
The US Federal Government is spending trillions with too little GDP growth for the amount being spent.
Housing prices are too high because of Government constraints that prevent building new affordable supply, and, too much supply being owned by investors, and not resident homeowners.
The 1987 crash happened in Reagan's 2nd Term.
The 2000 crash happend in Clinton's 2nd term.
The 2008 crash happened in Bush's 2nd term.
There was no crash during Obama's 2nd term because of the Fed's easy money policies.
If Biden gets a 2nd term, there could be a significant financial reckoning. Biden Admin will interpret winning a 2nd term as an endorsement of their bad policies and a mandate to further them.
The question is "what will be the best hedges against the next financial calamity"?
Competitive market supply side economics are the only way to fight inflation without crashing the economy - More of everything, in greater supply, produced with greater efficiencies, in competitive markets, to drive down prices per unit of consumption.
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Green New (Screw) Deal / Global Climate Change (Fraud) is artificially constraining the supply of the most efficient sources of energy, thus, causing energy inflation / reduced energy production efficiencies.
Not discounting anything else you said above @DefiantMassRINO but that alone has the power to destroy the economy.
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Not discounting anything else you said above @DefiantMassRINO but that alone has the power to destroy the economy.
Trump and the Gold Standard (Updated 2024)
The gold standard hasn’t been used in the US since the 1970s, but when Donald Trump was president from 2017 to 2021 there was some speculation that he could bring it back.
Rumors that the gold standard could be reinstated during Trump’s presidency centered largely on positive comments he made about the idea. Notably, he suggested that it would be “wonderful” to bring back the gold standard, and a number of his advisors were of the same mind — Judy Shelton, John Allison and others supported the concept.
With Trump set to run as a 2024 presidential candidate, some are again wondering if he will return the country to the gold standard. Speaking on his War Room podcast, Steve Bannon, Trump's former chief strategist, said he believes Number 45 could ditch the US Federal Reserve and bring back the gold standard in his second term in office. ................
https://www.nasdaq.com/articles/trump-and-the-gold-standard-updated-2024
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Trump and the Gold Standard (Updated 2024)
The gold standard hasn’t been used in the US since the 1970s, but when Donald Trump was president from 2017 to 2021 there was some speculation that he could bring it back.
Rumors that the gold standard could be reinstated during Trump’s presidency centered largely on positive comments he made about the idea. Notably, he suggested that it would be “wonderful” to bring back the gold standard, and a number of his advisors were of the same mind — Judy Shelton, John Allison and others supported the concept.
With Trump set to run as a 2024 presidential candidate, some are again wondering if he will return the country to the gold standard. Speaking on his War Room podcast, Steve Bannon, Trump's former chief strategist, said he believes Number 45 could ditch the US Federal Reserve and bring back the gold standard in his second term in office. ................
https://www.nasdaq.com/articles/trump-and-the-gold-standard-updated-2024
That and a free market, all of the above, energy policy would be revolutionary!
It's also why the PTB will never allow it to happen even if they have to resort to murder.
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That and a free market, all of the above, energy policy would be revolutionary!
It's also why the PTB will never allow it to happen even if they have to resort to murder.
Well, you said out loud what I've been thinking. **nononono*
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"Give me control of a nations' money, and I care not who runs the government."
Meyer Rothschild (1743-1812)
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$2349/0z
Drip...Drip.....Drip... The pressure is building on the dike.
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Trump and the Gold Standard (Updated 2024)
The gold standard hasn’t been used in the US since the 1970s, but when Donald Trump was president from 2017 to 2021 there was some speculation that he could bring it back.
Rumors that the gold standard could be reinstated during Trump’s presidency centered largely on positive comments he made about the idea. Notably, he suggested that it would be “wonderful” to bring back the gold standard, and a number of his advisors were of the same mind — Judy Shelton, John Allison and others supported the concept.
With Trump set to run as a 2024 presidential candidate, some are again wondering if he will return the country to the gold standard. Speaking on his War Room podcast, Steve Bannon, Trump's former chief strategist, said he believes Number 45 could ditch the US Federal Reserve and bring back the gold standard in his second term in office. ................
https://www.nasdaq.com/articles/trump-and-the-gold-standard-updated-2024
lol
Trump wants more spending
Running sky high deficits would be hard if we went back to the gold standard
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lol
Trump wants more spending
Running sky high deficits would be hard if we went back to the gold standard
And add the fact, that in the heiarchy of budgetary dispersion pecking order, that debt payment becomes first. So as the debt balloons, an incrementally larger percentage goes toward our debtors. Meaning less toward everything else, including defense.
Our criminally inept, and corrupt government has painted us into a corner.
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And add the fact, that in the heiarchy of budgetary dispersion pecking order, that debt payment becomes first. So as the debt balloons, an incrementally larger percentage goes toward our debtors. Meaning less toward everything else, including defense.
Our criminally inept, and corrupt government has painted us into a corner.
What needs to start happening is similar to what’s happening in Argentina
It seems like some of us are just picking on Trump only for the problem, but he’s just one part of the equation.
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Why gold prices are at record highs
From central banks to Costco customers, it seems everyone is buying gold these days.
The price of spot gold reached $2,364 per ounce Tuesday after hitting record highs for seven straight sessions and trading at $2,336 per ounce Monday. Year on year, gold is up 16.5%.
Investors who expect the Federal Reserve to cut its benchmark interest rate are the main force driving up prices, but the surge is boosted by other factors, including central banks — led by China — buying up gold to ease reliance on US dollars.
Central banks see gold as a long-term store of value and a safe haven during times of economic and international turmoil.
Gold is considered a resilient investment. When interest rates fall, gold prices tend to rise, as bullion becomes more appealing than income-paying assets like bonds. Investors also regard gold as a hedge against inflation, betting bullion will retain its value when prices rise.
The People’s Bank of China bought gold for the 17th straight month in March, adding 160,000 ounces to bring reserves to 72.74 million troy ounces of gold, according to Reuters.
Central banks may want to “diversify away” from US dollars and buy gold amid geopolitical uncertainty, according to an April 9 UBS research note. As China builds its reserves, demand is pushing up prices already boosted by usual investors.
Chinese investors are looking to gold as an alternative asset amid downturns in property valuations and equity prices in past years, according to an April 9 Capital Economics research note.
Other central banks, including India and Turkey, are also increasing their gold reserves. India’s GDP growth is driving those purchases, according to UBS.
Central banks demanding gold is a sign of waning reliance on the dollar, according to Ulf Lindahl, CEO at Currency Research Associates..............
https://www.cnn.com/2024/04/09/economy/gold-prices-record-highs/index.html
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Not unexpected. It's always been a matter of when and not if.
Silver hit 28....Where are Bunker and Lamar? Silver I have, gold not so much.