On multiple fronts there appears to have been a resumption of hostilities in the global currency wars. A subtle indication of this is the recently released report, Gold, the Renminbi and the Multi-Currency Reserve System, which I believe is highly significant for two reasons: First, it demonstrates that major global actors [...]
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Germany has announced that it plans to take home all 374 tons of its gold stored at the Banque de France, and 300 out of 1,500 tons held at the Federal Reserve Bank of New York. Bill Gross of PIMCO tweeted: “Report claims Germany moving gold from NY/Paris back to Frankfurt. Central banks don’t trust [...] Nothing really has gone wrong with the fundamental gold story since it reached its current price in the summer of 2011. This period was, as we remember, one of feigned panic amongst the media that the United States would actually default on its Treasury obligations. The more fundamental story was that a few domestic and [...] In the spirit of the holidays and hope for a more prosperous 2013, I thought my readers might appreciate a little humour to partially offset the relentless doom and gloom associated with the Amphora Report. So please, don’t take this edition too seriously. But if you happen to stumble across a ‘paperbug’ or two [...] Is reserve currency status an economic blessing or a curse? The answer might seem obvious, as reserve currencies have been shown to confer lower borrowing costs on their issuers. But what of the borrower who, enticed by low interest rates, borrows more than they can pay back? Naturally the result will be a default. However, [...] In Part I, we looked at the period prior to and during the time of what we now call the Classical Gold Standard. It should be underscored that it worked pretty darned well. Under this standard, the United States produced more wealth at a faster pace than any other country before, or since. There were [...] Keith WeinerPresident, Gold Standard Institute USAWeiner (dot) Keith (at) Gmail (dot) Com Nov 7, 2012 Re: Open Letter to Hugo Salinas Price Dear Mr. Price: I read your piece: “On the Use of Gold Coins as Money”. I think you ask the right question. This is the elephant in the room. Why do gold and [...] As we move forwards towards a gold standard, we will need many new innovations (as well as a rediscovery of old things that have long been forgotten). At the Gold Symposium in Sydney Australia, I saw an exhibitor who has a new, innovative product. They have thin sheets (almost like wafers, especially the gold ones). [...] This site has featured evidence of economic weakness in the U.S. for some time, basically since last spring. Now that the Fed agrees so heartily as to add QE on top of Operation Twist, I start looking for buying opportunities in economically-sensitive assets; this being a total reversal of the stance I adopted in May [...] |
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