Tuesday, February 19 2019
By GCRU Gold News on Tuesday, February 19 2019, 02:34
U.S. debt has been steadily climbing ever since the Sept. 11 attacks, but under Obama it was sent into overdrive. Not all of this was Obama’s fault; the Great Recession, ongoing Asian wars and a boom in entitlement spending on retiring Baby Boomers all helped swell the tab. But still, in eight years of the Obama presidency, the U.S. national debt jumped from $11.1 trillion to $19.85 trillion. Coincidentally, this $8.75 trillion debt surge is the same as the combined value of all the gold ever mined. Every nugget pulled out of the Klondike, every ounce plundered from the Aztecs, every gold bar leach-mined out of Australia: It all adds to about 190,040 tonnes or 6.7 billion ounces. At the current per-ounce price of about $1,300, the world’s goal hoard would be just enough to pay off the U.S. debt accumulated between 2009 and 2016.
Tuesday, February 12 2019
By GCRU Gold News on Tuesday, February 12 2019, 00:04
“Paper money is now being created wholesale throughout the world. Stated simply, all paper currency is now valued against each other. But more important, ultimately ALL paper is ultimately valued against the only true, intrinsic money – gold. In world history, no irredeemable paper currency has ever survived. Since all the world’s currency is now irredeemable (in gold), this means that in the end, the only form of money that will survive is real intrinsic money – gold. It’s not a question of whether gold will survive, it’s a question of when the world’s current paper money will deteriorate and finally die. I can tell you that irredeemable paper will not survive – but obviously I can’t tell you when it will die. The timing is the only uncertainty.”
Sunday, January 20 2019
By GCRU Gold News on Sunday, January 20 2019, 02:20
With its debt exploding and its international position weakening, the United States will choose to weaken the dollar as it has done before
Tuesday, November 13 2018
By GCRU Gold News on Tuesday, November 13 2018, 06:56
For the first time in history, a central bank has managed to print enough money to buy enough assets to surpass the nation's annual GDP.
Monday, July 30 2018
By GCRU Gold News on Monday, July 30 2018, 23:51
My story about the Japanese government pegging the gold price makes as much sense as the stories about the Chinese government pegging the gold price.
Saturday, April 21 2018
By GCRU Gold News on Saturday, April 21 2018, 22:34
A currency should be "basically something with a store of value," he said, adding that currencies need to be "elastic" to be able to support varying economic and financial conditions.
By GCRU Gold News on Saturday, April 21 2018, 22:15
Deutsche Bank has the most exposure to derivatives in the world, to the tune of $64 Trillion, or 16 times Germany’s GDP...
“Deutsche Bank is one of the most dangerous financial institutions in the world, due to its complex activities.”
Monday, March 12 2018
By GCRU Gold News on Monday, March 12 2018, 01:19
In some ways, Bretton Woods really might have evolved into the worst international deal America ever made.
So... let's end it by absolving the dollar of its role as international reserve currency and restoring the classical gold standard. This is something Donald Trump intuitively understands.
Saturday, November 4 2017
By GCRU Gold News on Saturday, November 4 2017, 03:58
Thursday, November 2 2017
By GCRU Gold News on Thursday, November 2 2017, 01:21
We think the final break with precious metal currency systems from the early 1970s (after centuries of adhering to such regimes) and to a fiat currency world has encouraged budget deficits, rising debts, huge credit creation, ultra loose monetary policy, global build-up of imbalances, financial deregulation and more unstable markets.
The various breaks with gold based currencies over the last century or so has correlated well with our financial shocks/crises indicator. It shows that you are more likely to see crises/shocks when we break from hard currency systems. Some of the devaluation to Gold has been mindboggling over the last 100 years.
By GCRU Gold News on Thursday, November 2 2017, 00:10
Few correlations in the financial markets ring truer and more consistently than the one between the federal debt and gold. That relationship between the two is about as fundamental as it gets because it goes to the heart of what’s wrong with the debt-based fiat money system. As the federal government borrows more and more dollars into existence and the banking system pushes those dollars through the global monetary system, it diminishes the value of all the other dollars already being held somewhere by somebody – domestic private investors, financial institutions, foreign governments and central banks, et al.
Friday, September 29 2017
By GCRU Gold News on Friday, September 29 2017, 08:52
China just announced that any oil-exporter that accepts yuan for oil can convert the oil to gold on the Shanghai Gold Exchange and hedge the hard currency value of the gold on the Shanghai Futures Exchange.
Thursday, September 28 2017
By GCRU Gold News on Thursday, September 28 2017, 22:47
A good read - About cryptocurrencies and tulips
Thursday, July 6 2017
By GCRU Gold News on Thursday, July 6 2017, 00:54
Gold ownership is traditionally a form of battening down the hatches against these recurring financial storms and, for the minority who adhere to it, is an effective and ever-ready defense. Nialls Ferguson, the economic philosopher, summed up what a good many were thinking in the wake of the 2008 meltdown when he said: "Those few goldbugs who always doubted the soundness of fiat money – paper currency without a metal anchor – have in large measure been vindicated. But why were the rest of us so blinded by money illusion?"
Why indeed. . and why, pray tell, are so many blinded by it now?
Sunday, May 14 2017
By GCRU Gold News on Sunday, May 14 2017, 02:18
Ron Paul noted, “HB 2014 is a very important and timely piece of legislation. The Federal Reserve’s failure to reignite the economy with record-low interest rates since the last crash is a sign that we may soon see the dollar’s collapse. It is therefore imperative that the law protect people’s right to use alternatives to what may soon be virtually worthless Federal Reserve Notes.” I
Wednesday, April 12 2017
By GCRU Gold News on Wednesday, April 12 2017, 23:57
The US Treasury report on currency manipulation was ordered by Donald Trump to address the issue of countries manipulating their currencies, normally to devalue them and give an unfair advantage to their own exporters.
The report is expected to be published mid-April and it expected to have a strong impact on the currency markets.
Another market the findings may impact is that of Gold which is heavily influenced by sentiment flows as it is used as a safe-haven in times of stress.
Tuesday, April 4 2017
By GCRU Gold News on Tuesday, April 4 2017, 03:22
Global debt rose to 325 percent of the world's gross domestic product in 2016, totalling $215 trillion, an Institute for International Finance report released on Monday showed, boosted by the rapid growth of issuance in emerging markets.
Global debt has risen more than $70 trillion in the last decade to a record high for debt issuance, the institute said.
Sunday, March 12 2017
By GCRU Gold News on Sunday, March 12 2017, 04:32
Only lowering our living standards will achieve sustainable growth. That’s the message from Satyajit Das, a former financier who anticipated the GFC. Debt, energy consumption, housing affordability or superannuation – it’s all based on a financial system that’s in fact a completely fictional model. This model was always doomed to fail – eventually.
Thursday, March 9 2017
By GCRU Gold News on Thursday, March 9 2017, 02:15
The combined M1 money supply in the world is about 24 trillion dollars. That includes the United States, China, the Eurozone and Japan. Those four entities combine for over 70% of global GDP.
Thursday, February 23 2017
By GCRU Gold News on Thursday, February 23 2017, 10:44
Boston Consulting Group (BCG), the omnipresent US-consulting company, and Google, the global data miner, issued a joint report in July 2016 on the “$500 bn Pot of Gold”, which is the Indian digital payment market. Even though the authors deny it, the report gives much reason to suspect that the authors knew that something radical was imminent from the Indian government. The report is remarkably honest about the aims of the whole exercise.