Thinking of the debt ceiling, I see the waste and ‘lost’ funds, I shake my head in horror. When literally billions and trillions ‘go missing’, my disbelief grows exponentially. When my $600.00 is tracked and prosecuted to the n’th degree, the only way that missing funds can happen is on
Below is an interesting chart reflecting the life of various currencies since 1400. The current wisdom seems to be that the dollar is doomed. I think in reality this is true, BUT, the majority of world trade is still carried out in USD, even though it is changing rapidly. The financial systems are mostly USD orientated.
The US has the largest and most diverse economy in the world, although the strength of the Chinese economy appears to rival the US economy in many respects. The Renminbi is however not traded worldwide yet, but does have an established international bond market which is growing and presents real competition to the USD.
The global banking picture looks worse and worse. I believe that one way to save the depositors is to quasi nationalize the tier one big banks, with the government effectively doing this recently by backstopping (SVB) or forcing a sale (Credit Suisse) and wiping out the equity and debt holders, an option probably not afforded to the smaller tier two, three etc. banks as they are not systemically important enough. If these banks fold, it will be you and me that will sink with them.
Every day we appear to be moving closer and closer to Armageddon. The stupidity and inconceivable decisions and statements being made cannot be reconciled. The ratification by Hungary, of Finland and Sweden, to join NATO in the tense Russia Ukraine situation makes no sense other than to rub salt in
Small and medium businesses are being attacked on almost every level. From the costs of direct inputs, to the continually increasing creep of government control, compliance and reporting which requires more and more effort and staff in order to comply.
The World Gold Council said that it could not identify the source for 300 tonnes (US$ 15,325,887,500.00) in official sector gold demand in early November, (this is a huge amount of gold to be unidentified), speculation is that the whale might be China.
For those of you who know me or who have listened to me speak at conferences, you will know that I have been saying for years: “If you hold assets like Gold or Silver in a Vault or Safe Deposit Box or have bank accounts in Hong Kong, you need
The world’s second-largest economy, China, along with Russia are buying gold like it’s no one’s business.
In Hong Kong, anti-extradition bill protests have been in full force since 31 March this year. Last month, protest organizers estimated that one-million people took part in a march against a proposed amendment to the bill, which would be the largest demonstration in Hong Kong since the end of British
The debate continues to rage on as to whether there are forces big enough to actually manipulate the Gold market. On the one hand, you have the mainstream folks confidently declaring that the gold market is far too large and liquid to be manipulated. Still, others have spent countless hours
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