On June 30th, 2020, the Senate Banking Committee held a hearing on the future of the digital dollar. The pressures to create a digital USD are mounting as China recently began testing its own digital currency – the DCEP, which will be included in popular applications like WeChat and AliPay. Of particular concern is widespread adoption of a digital yuan in emerging markets and in international trade. Continue reading
Individual investors have never been more worried about a U.S. stock market crash. That’s great news. This counterintuitive reaction is because investor sentiment is a contrarian indicator. So it would be more worrying if investors thought there was a low probability of a crash. Continue reading
McDonald’s, 93rd Avenue and Thomas Road, Phoenix, AZ, October 26, 2020:
Suddenly it seems that nearly all of The Banks and Bullion Banks are raising price forecasts and rallying around the precious metals. Is this a good thing or a bad thing?
That’s the question, of course. Banks like Goldman Sachs have earned a reputation for leading their clients into taking the opposite side of whichever trade the firm prefers. Continue reading
…and YOU’ve bought into it and will not even be able to afford the bread!
It’s pretty much universally recognized that authorities use crises to impose “emergency powers” that become permanent. This erosion of civil and economic liberties is always sold as “necessary for your own good.” Of course the accretion of ever greater power in the hands of the few is for our own good. How could it be otherwise? (Irony off)
In this environment of “emergency powers“, it’s almost refreshing to find a power grab so blatant that its sheer boldness boggles the mind. I’m talking about the Federal Reserve’s FedNow, a proposed system of instant payments and digital dollars… Continue reading
At the height of World War II, when American soldiers were on the front lines in Europe and the Pacific battling for the very survival of civilization, life back home was starting to feel pretty bleak.
The psychological toll alone was severe… Continue reading
The threat of economically crippling lockdowns, the promise of unending monetary stimulus, and the uncertainty of game-changing political outcomes – this is the “new normal” for investors.
The COVID pandemic won’t be eradicated anytime soon. And even when it finally is, the economic and social costs will continue to be borne for years to come. In such an environment, all conventional asset classes carry heightened risk. Certain types of assets, though, may now be well positioned to shine.
Among them is silver… Continue reading
For the powerful city-state of Athens in ancient Greece, the year 430 BC was one of the most tumultuous and dramatic in its history.
Prior to 430 BC, Athens had been at the pinnacle of stability and power for decades.
But in the course of that single year, the city was invaded by Sparta at the outbreak of the Peloponnesian War; Athenian officials essentially impeached their leader, Pericles, and put him on trial; and a deadly plague killed off up to 20% of the population.
In short, for ancient Athenians, 430 BC probably felt like 2020 does for us. Continue reading
Electronic money
Every one of us has a bank savings card. When we deposit money to the card, we will have a number in our bank account, indicating how much we have saved. In the process, we gave the cash to Bank, the bank gave us a bank card plus a number, this figure is our electronic money. After we deposit it, we can take out the money on the ATM machine or on the counter, or use the online banking, UnionPay or various third-party payment tools to make purchases or transactions. Continue reading
The Globalists want a cashless society so that they can remove any shred of privacy people still have, and have complete control over the monetary system. COVID is being used to rush these plans into place.
Over the past decade, the one common theme despite the political upheaval and growing social and geopolitical instability, was that the market would keep marching higher and the Fed would continue injecting liquidity into the system. Continue reading
