June 17, 2020 at 7:58 am #204084
This is intriguing:
Countries are stocking up on gold reserves, partly, it might be a consequence of strong arming Venezuela (after all, if your reserves can be seized by a foreign power at any time, why not bring them home?) I also wonder if Greece is in people’s minds, the threat of withdrawing it’s Euro credit would essentially have cut it off from effective international trade, but stocks of gold at home would have meant it could have readily backed up its transactions.
Relatively famously FDR tried to corner the world gold market in the ’30’s (leading, in part, to the German crisis that saw Hitler come to power), which in turn saw many countries, including Britain, drop the gold standard (the gold standard no longer applies anywhere, but gold retains its asset power in times of economic stress).
We can see a sharp rise in the price of gold after the 2008 crash (but there is an upward trend anyway after that leap corrects itself).June 17, 2020 at 8:55 am #204086
YMS, Am i right that you once suggested that the Party invested its funds into gold? Or am i misremembering?June 17, 2020 at 9:41 am #204093
I may have joked about it.
Gold!June 17, 2020 at 4:06 pm #204115AnonymousInactive
The issue is that some peoples believe that the problem of capitalism is one sector of capitalism which is paper money and that eliminating paper money (and that the federal banks produced money from thin airs, and that fed reserve banks are private corporations), and accumulating gold the problem would be resolved, capitalism is not one sector of its economy, it is the whole thing that is the problem.
The left-wingers are in the same situation, and they are applauding Russia and China, they think that by eliminating the US dollars system everything would be resolved. The capitalists can trade with pieces of rock and it would be the same thing, it would be a product of economic exploitation turned into capital. Every day we get a new conspiracist theory.
Now a small country like Israel control the whole world and that the Zionist-controlled all the countries of the world, it is known that the main actor is Rothschild and the IlluminatiJune 17, 2020 at 5:06 pm #204122
“Now a small country like Israel control the whole world and that the Zionist-controlled all the countries of the world, it is known that the main actor is Rothschild and the Illuminati”
Sorry, are you asserting this, or giving it as an example of a conspiracy theory?June 17, 2020 at 9:52 pm #204147AnonymousInactive
No, I am repeating the conspiracist theory I don’t believe in that argumentation it is just irony.
They are also saying that Israel is controlling Donald Trump and he is a puppet of the prime minister of Israel.
The left never learn, they continue supporting dictators because they are anti-Yankees, or antiimperialists (the USA only ) but they are not anticapitalists.June 18, 2020 at 11:01 pm #204226
Advisers to the world’s wealthy are urging them to hold more gold. Some are channelling up to 10% of their clients’ portfolios into the yellow metal as the massive central bank stimulus reduces bond yields. Nine private banks spoken to by Reuters, which collectively oversee around $6 trillion in assets for the world’s ultra-rich, said they had advised clients to increase their allocation to gold. Of them, four provided forecasts and all saw prices ending the year higher than they are now.
Gold prices have already risen 14% since the start of the year to $1,730 an ounce, many private bankers bet that gold – a hedge for both inflation and deflation – has further to run. UBS, the world’s biggest wealth manager, said gold could hit $1,800 by year-end in its base-case scenario, driven by ultra-low interest rates and investors seeking gold to hedge their portfolios, or even touch a record high of $2,000 in the event of a second wave of novel coronavirus infections.June 20, 2020 at 1:57 am #204246
The Bank of England, holds 1.7 billion euros ($1.9bn) of disputed Venezuelan gold bars. Maduro says they belong to his administration’s central bank. Guaido, who the British government recognises as Venezuela’s rightful leader, says the bars are his to control.
Next week, a British commercial court will begin deciding whose claim is just, after the Venezuelan central bank (BCV) sued the Bank of England to gain access. A decision is not expected until August or SeptemberJuly 9, 2020 at 8:21 pm #204961Matthew CulbertKeymaster
Alongside the rise in gold prices,here in Britain, the government is spending £14 billion a month to pay furloughed workers’ wages. That’s on top of £15 billion in grants for small firms and £10 billion in support for the self employed.
In America, some 88 million cheques have been mailed in the post as part of a $160 billion “free money” package.
The ECB has just pledged $1.5 trillion in monetary stimulus.
China plans to spend $500 billion…
Even India has committed $265 billion.
Where is any of this money going to come from?
Well, thanks to the policies implemented after the financial crisis, the world is already awash in debt. Global debt hit $255 trillion last year. That’s UP by 40% since the global financial crisis.
Are we likely to see the begining of devaluations of currencies and the emergence of the rampant inflation of the 70s?July 9, 2020 at 11:56 pm #204967AnonymousInactive
High Inflation is within us already A friend of mine from Argentina told me that she is a vegetarian now because she can not afford the price of meat
There are more than 28 millions of peoples in the USA who are going to become homeless because they can not pay their house/apartment rent
All that money landed in the hands of the rich peoples and some became richer and the money given to the workers do not cover their rent and the average rent is 2,500 dollarsJuly 10, 2020 at 12:00 am #204968AnonymousInactive
Some countries are paying their VISA with the MasterCard due to the high level of debts Argentina is in default again and they can not pay the debtJuly 24, 2020 at 6:59 pm #205207
Increasing signs that the prolonged pandemic is stalling an economic recovery and the recent spat between China and the U.S. are underpinning the metal’s appeal. Gold’s also getting support from a confluence of low or negative real rates, a weaker dollar and expectations of rising inflation amid massive liquidity injections from governments and central banks around the world.
“The pace of this thing is unbelievable,” Bob Haberkorn, a senior market strategist at RJO, said by phone. “People just want to buy, buy, buy, they just want to be in — they don’t want to miss it. People are preparing for more money printing, lower dollar in the future and hedging. And there’s no yield on Treasuries right now, so gold is a safe spot given the circumstances of the central banks and the coronavirus.”
Silver is poised for its biggest weekly advance in about four decades.August 1, 2020 at 7:21 am #205483
Indians love gold. Over centuries, households – as well as temples – have hoarded the precious metal.
According to a World Gold Council estimate from last year, total gold reserves across Indian homes were about 25,000 tonnes – the largest in any country.August 1, 2020 at 8:59 pm #205493AnonymousInactive
Sometimes they need gold to marry their daughters, it is part of the selling process of women to men.
In some places like in the USA, the family of the woman must provide all the financial expenses for the wedding,
I do not go for that kind of shit if two people want to get married that is their personal decision, and there is no need to spend a lot of money Like Goldman said: There is not a relationship between marriage and love, or vice versa
Sometimes parent spend thousands of dollars or go into debts to marry their daughters, and then within 6 months they are going to a divorce /dissolution procedure, it is a just a romantic businessAugust 1, 2020 at 9:37 pm #205494AnonymousInactive
The practice of Sati in India it was another barbaric ideas imposed on women
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