Here’s an example of @CNBC making fun of me for recommending gold. It was $1,200, and they all laughed at my $5K call. They can’t laugh at $5K gold anymore, as it’s only $1K away. They also can’t laugh at me anymore, as they stopped inviting me on shortly after this interview.
🇺🇸🇨🇳 “China is too big and floods the world market with cheap products.” Says Yellen.
I said it before, the US will cut the world in two, shield China away and push US products to Europe and other allies.
A new iron curtain is coming up, but this time it’s put up by the west.
Last week at UNLV I was asked why I’m a Christian and if I believe the Bible by a guy wearing a pentagram shirt thinking it would show people Satan. The video has gone viral and now at least 10 million people have seen it and heard the gospel because of it. Hopefully the interaction helped him too, but I know for sure it has helped others.
“You intended to harm me, but God intended it for good to accomplish what is now being done, the saving of many lives.” Genesis 50:20
Happy Easter!
@JJ04519737 ANOTHER: There are nations that will try to "resource a new currency" as the old financial system implodes. Oil or gold or both may be used. If it is done at the correct time, much will be gained by all! Fail this,
Gold as Truth Serum
Imagine telling people gold hurts capital markets. When (as aptly described below) your behavior, enabled by CB largesse has incurred losses and broken fiduciary trust driving people *into* gold. This, while you ask them to put money in a digital version of gold.
You have damaged our capital markets. Gold is here to remind you of that. 👇
Game Over.
The BW 3 Process likely involves some combination of the following:
The decision to monetize gold on a global basis has already been made .
Every nation that’s in a position to, and every institution with a stake in the future of finance is setting the table for a big coming out party for some sort of official announcement. They’re all doing it in different ways suitable to their culture, regulatory environment or business model. But everyone’s doing it. The announcement will come after everyone’s in place.
And it will probably rock the world if not the price of gold.
The other scenario is less exciting but equally possible. The brics have an announcement of some sort coming out, and when that announcement comes out, it creates a whole new market for financial companies to participate in.
Banks are creating “new product” to accommodate new demand in the reopened market. To the extent the west does not join in this , they will be missing out on a “new product“ to sell its own customers.
Major western banks have already joined this. Their governments will follow passively if not publicly.
(HSBC left comex recently while JPM increased its footprint in GLD while it drains. Don’t be surprised if JPM has a product soon too)
In this scenario, there is no “big announcement” that the west joins. Merely a quiet adoption of the new rules and serial new products to accommodate growing unlocked demand.
Some variation of the 2 above scenarios is happening
Remember where you heard it first.
Forex will be the biggest show on earth...its coming to you too...Grab the phys gold..and grab the popcorn..you will come out of this in great shape if you stick to the gold whatever happens during the fireworks
This is hands-down the best explanation I've heard on why sanctions on Russia backfired, and why they were never going to succeed in the first place.
By economist James K. Galbraith, professor at the University of Texas at Austin.
Best quote of his explanation: "This is a situation in which the sanctions were imposed by one important sector of the world economy which then cut itself off from resources that it needs - and that's particularly true of Western Europe - in return for cutting Russia off from various things that Russia doesn't really need."
Second best quote: "If you go back to the period before the introduction of the sanctions [...] the Russian economy was very heavily colonized by Western firms. That was true in automobiles, it was true in aircrafts, it was true in everything from fast food restaurants to big box stores. Western firms were present all throughout the Russian economy. A great many of them [...] either chose to exit Russia or were pressured to exit Russia after early 2022. So on what terms did they leave? Well, they were required, if they were leaving permanently, to sell their capital equipment, their factories and so forth, to let's say a Russian business which would get a loan from Russian banks or maybe have other sources of financing, at a very favorable price for the Russians. So effectively a lot of capital wealth, which was partly owned by the West, has been transferred to Russian ownership. And you now have an economy which is moving forward and has the advantage compared to Europe of relatively low resource costs because Russia is a great producer of resources, oil and gas and fertilizer and food stuff and so forth. And so while the Europeans are paying maybe twice in Germany what they were paying for energy, the Russians are not, they're paying perhaps less than they were paying before the war. So again I characterize the effect of the sanctions, in fact as being in certain respects a gift to the Russian economy. And this is, I think, quite different from what the authors of the sanctions expected. [...] And the essence of the situation is this would not have happened without the sanctions. You could have had the war, and it would have gone pretty much as it has gone. But the Russian government in 2022 was in no position to force the exit of Western firms. It didn't want to, wouldn't have done that. It was in no position to force its oligarchs to choose between Russia and the West. It didn't wish to do that. These choices were imposed by the West, and the results were actually, in many respects, favorable to the long-term independent development of the Russian Federation's economy."