Global Market Commentary, Analysis and Investments
The Dow was up 9 points on Friday…following a week of big news.
Congress passed a bill permitting the US government to take over the health sector…about 17% of US GDP. Let’s see. The feds don’t have any money, right? They’ve got the biggest deficits ever, and will have to borrow $2.4 trillion this year just to keep the lights on.
[Read more...]The world is turning upside down when central bankers are accumulating gold and ordinary people are not.
Last year, central banks were net buyers of gold for the first time since 1988. In fact, they bought the most gold in any year since 1964. Total central bank holdings worldwide, according to the World Gold Council, grew by 425 metric tons last year.
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The Great Dollar Standard Turns 40
In the history of money in the world… 40 years really isn’t that much time.
Today we celebrate the 40th birthday of the Great Dollar Standard era, initially by quoting (liberally) from our own Empire of Debt:
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