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Thursday, October 28, 2021

Gold’s Historic Rise

Submitted by Steve Brown… Gold’s meteoric price rise is more about the US dollar’s crash far more than sovereigns and central banks just hoarding gold.  Check out the one-month US dollar index here: https://www.bloomberg.com/quote/DXY:CUR But why would Mnuchin’s Treasury and central banks allow the dollar to crash? At this point only insiders know, and we…

Secret World of Gold

Submitted by Steve Brown… A popular meme in the Panic of 2020 asks, if gold is such a bellwether, why has its price not greatly increased?  …and indeed, gone down. The reason why is at the heart of why Modern Monetary Theory — now forcibly embraced — is doomed to fail. But first, a few…

Central Banks Continue “Remarkable” Gold-Buying Spree

Central banks continued their remarkable gold-buying spree in November and remain on pace to eclipse 2018’s near-record purchases.According to the latest numbers from the World Gold Council, central banks added 27.9 tons on a net-basis to official gold reserves in November. That brings the yearly total for 2018 with one month left to calculate to…

Gold Declines After Trump Avoids Military Escalation With Iran

Prices almost hit seven-year high before president’s official statement Gold prices hit near seven-year highs on Wednesday before declining to stay above the key $1,500 support as President Donald Trump refrained from escalating the United States’ conflict with Iran after Tehran launched missile attacks on US-Iraqi airbases without killing anyone.Gold futures for February delivery on…

Oil Climbs, Gold Hits Seven-Year Record Amid US-Iran Tensions

Already tense relations between the US and Iran hit a new low following a series of events which began two weeks ago with an attack on an American military outpost in northern Iraq, and culminated Friday morning with the US assassination of a top Iranian military commander on Iraqi soil.Gold, palladium and other risk-averse assets…

Top Slovak Party Leader Wants Country to Bring Its Gold Home

National Bank of Slovakia holds 31.7 tons of gold valued at around $1.4 billion A top Slovak political party official said his country should bring its gold home because even its allies cannot be trusted with it.Ex-Premier Robert Fico chairs the biggest party in Slovakia. Last week, he called for a special parliamentary session on the country’s…

Central Banks Buying More Gold

Banks worldwide ripping themselves away from Fed’s dollar The central bank gold-buying spree shows no sign of letting up as countries seek to diversify their reserves away from the US dollar.Globally, central banks added another net 47.5 tons of gold to their reserves in September, according to the latest data from the World Gold Council.There were no significant…

Syria is Lost…Lebanon’s Gold is Next

Submitted by Steve Brown… The largest reserve gold traders on the planet are the six bullion banks. A bullion bank is a large multi-national bank authorized to serve as a conduit through which Central Banks – and the Fed primary dealers – loan their gold out into the market. All central banks lease gold, to…

Central Bank Gold-Buying Spree Continues

Four banks account for bulk of recent purchases The central bank gold-buying spree shows no signs of letting up. In fact, it ramped up again in August after ebbing slightly in July, according to the latest data released by the World Gold Council.After a relatively modest net increase of 13.9 tons in July, central banks globally…

Gaddafi’s pan-African gold-backed Payment System

Authored by Serban V.C. Enache via Hereticus Economicus: A fine RT interview with Moussa Ibrahim, Gaddafi’s ex-spokesperson. While pointing out the role of NATO and mainstream media in Libya’s destruction, Ibrahim accepts and explains the blind spots / failures in Gaddafi’s rule. Three things he mentions: that they failed to shift away [diversify] from the…
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