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‘The total monetary gold reserves of the United States stand at 276 million ounces, or 7,824 tonnes, and are still valued at $42.2222 per ounce. That’s $11.7 billion on the books of the US Treasury, when at current prices they would be worth $739 billion.
But in the end, how much does this accounting difference matter when you consider the US debt of $35 trillion, ‘
So if the Fed/Government wanted a 10 % backing (3.5/0.79 )Gold needs to rise 4.5 times from here…ie $ @12000….if it wanted a 50 % backing we need to see Au @ $v 60,000
ferret – Well, I think our trade deficit runs over $100 billion a month, so there’s some revenue there.
silverspike – I’m glad to see that the idea that there’s no need for an income tax and many other taxes is starting to come to the forefront. When you control a printing press, why do you need to tax anything? It’s the same as modern monetary theory without the taxation. Course there will be weeping and gnashing of teeth from all the Fed Reserve dependent entities because that’s how they enrich themselves off the sweat of our backs, but we don’t need them either. Cut government and their spending, empower businesses here to create and make our own stuff. We can use tariffs or even a small sales tax to provide for government spending.
Our entire economic system is a scam, meant to exert and keep control over “we the people.” Sounds crazy right? If the dollar was backed by gold, there’d be no inflation unless they kept devaluing the gold to print more currency, which has always been the tendency of governments. The Romans did it, and they collapsed.
The idea that the Fed prints our currency for us at interest is lunacy. Nathan Rothschild “Give me control of a nation’s currency and I care not who makes its laws.”
Cheap imports have been used as a method of hiding the never-ending devaluation of the dollar and inflation.
Your mom might be connected to the Kennedy era if a demo but that party no longer exists. Although because they only know what they saw on the news didn’t know Kennedy was regularly cheating on his wife.
Now it comes out Kamala’s VP pick not only went after nanny’s but had a affair overseas with a CCP who angered her and claimed he made her feel like a prostitute. What either saw in that guy I have no idea. I don’t know what it is about the demos and the Chinese Communist party other than the communist part.
Trump’s getting a good team together and glad Musk is getting in and has more say if the neocons try to use any of his expertise for evil. I hope they pass laws that if any other hack comes in they can’t executive order our country, elections, or economy out of existence.
My daughter just found out that woman that hit her didn’t have insurance.
But then, so is my dog. And Trump’s smart enough to bring in Musk etc. Picking independent guys like that, who are not sycophants, is a very smart move.
I’ve been trying to get my head around tariffs in the 21st century. I can see why they worked in a new country, where you had no manufacturing of anything. But the stronger your economy becomes, the less revenue tariffs provide. You’ve already onshored a lot of things with foreign motor plants, steel, aluminium, oil refineries etc. etc. so your tariff revenue as a proportion of GDP and govt. spending (at least before Musk and RFK get stuck in) will be a lot less than in the early 20th century. While I think they’ve a significant part to play, they won’t be the cure-all. The best use for tariffs is to stop dumping, so they’ll be very effective in protecting, say, the electric car industry in the US from the ridiculously cheap vehicles coming out of China (or China via Mexico!). Or below cost steel. Just so long as there are no tariffs on kangaroo products, because you can’t make them yourselves.
I pretty much agree with you both, although ferret I think Trump is a lot smarter than given credit. I think he was naive in his first term, he’s from a generation when we just didn’t think the government would lie to us or was all bad. They said the Pledge of Allegiance and had the Ten Commandments in classrooms. People treated each other better, most of the country were at least “cultural Christians” in that there were certain rules they all lived by. Men still had a semblance of honor – even some politicians. My mom is a little older than Trump, she can’t see the truth because of her inability to believe that she is manipulated by propaganda – of the left. She grew up with the likes of Walter Cronkite, back when journalists actually reported news, didn’t give us their opinions about it, or repeat verbatim what the government told them.
Trumps idea of going back to tariffs is genius, I didn’t realize that’s what we did all the way up to Eisenhower. Then came Kennedy, and the CIA and military industrial complex became the Globalists arm of the US. Straight downhill from there. Listen to Eisenhower’s departure speech, he warned the country this was happening.
Turns out though, they’ve been lying to us for a lot longer than even the last 70 years or so. The difference is that a lot have awakened to it now, and it’s shocking. our country is a disgrace, and you’re right, the deep state is cornered. God has a plan, we’ll have to wait to find out what it is.
I need to study all that better and why I decided that’s your job because your watching it. Lol I’m not even sure how they calculate the yields vs rates or if I want to learn at this point with real world things going on. Like getting lab checks on anticoagulants on my daughter home to soon but on medication, a wound showing a mild infection but she had to wait so long for surgery I see they left a small area open for drainage so it doesn’t pocket fluid and bacteria growth and now on antibiotics than can effect other medical at times like anticoagulants which I noticed in the days on my patients was more than a coincidence drive levels up and teaching how to do wound care in a sterile manner and what to use to her other who has been very good doing the best he can. He even moved the bed down stairs so she isn’t stick upstairs lor stuck on a couch lol She said she feels like Frankenstein was kinda depressed so we’re talking Hawaiian flower tattoos later. Thank goodness their popular now b
Anyway if the rates go up that would make bonds attractive or maybe some sort of laddered bonds if rates expected to keep going up less the Fed plans on balancing it. Pento said Fed is more worried about deflation and the banks failing than inflation and country starving. It seems there’s factors to be aware of this time they go beyond our borders that could complicate things. Nothing has been normal since Biden took office beyond the norm plus the neocons. I like Musk but we’ll have to watch if there is any pull on him by the neocons and his expertise in space work.
I expected the Fed is looking for a excuse to inflate but what happens after the announcement. If rates going up in the face of inflation to propping the dollar up that would be bullish for gold. If dollar is going up in the face of deflation that could happen with a Kamala win and economic collapse with her lunatic policy’s of foreign agents then it wouldn’t be bullish for gold It depends on the reason. But remember I’m not expert on the subject. I personally don’t consider Harris a US citizen but a foreign puppet hack and some of the others who got in politics using women to appear less threatening and mask the real threats behind the scenes. I mean like me Kamela okay don’t care if you own nothing okay and aren’t happy okay. ?
They can’t affect rates, actual rates. The market is bigger than they are. They can only be followers. Normally they manage to follow from in front, by cutting or raising rates before (or as) the market moves. Everyone down under was expecting a rate cut from the RBA after the fed cut 0.5% but they could see which way the market was going, and they didn’t have an election to contend with, so held rates steady.
And there’s no way the deep state will accept a Trump victory. They will literally be cornered rats. It’s not that Trump is the sharpest tack in the room, but a team including Musk, RFK and Ron P is formidable. Just imagine having people who actually know what they are talking about in government!
So the real fight starts after November 5th. Which in the UK is Bonfire night, where kids burn effigies of Guy Fawkes, who tried to blow up parliament on that date in 1605. In Oz though we have the annual nag race in Melbourne so no-one will be aware of or care about what’s happening anywhere else. There are nevertheless hints of relevance to the election, with Positivity and Trust In Me 101 to 1 outsiders, and Absurde almost the favourite at 8.5 to 1.
Yeah, I’m not sure what to think about bonds, but I’m not sure they should be selling off with the Fed cutting rates. I think the Fed has a green light to cut .50 again instead of .25 after the disastrous jobs report.
I suspect that’s why we might be seeing pm weakness in front of the Fed meeting, although rising rates and the stronger dollar shouldn’t be helping us either. I remember back in the old Sinclair days, I emailed him about rates and he said if rates are rising quickly it would be bullish for gold.
All that being said, I’d think eventually rising rates will be bearish for the dollar. Usually higher rates are used to prop up a currency. I can’t imagine that rising rates and a strong dollar are what the Fed wants, IF they actually want to boost the economy. OTOH, I’m not sure if the Fed and those that control them, actually want a strong economy, they may try to crash it. Especially if Trump becomes president. There’s been a lot of talk about getting rid of the Fed from the Trump team. Elon Musk has mentioned wanting Ron Paul on his “government reduction team.” I’m sure those in Trump’s inner circle knmow full well that the Fed is a Globalist enterprise and not a friend of the US.
These next few months are going to determine whether the US survives as a country IMHO. There’s no way the people will accept a Harris victory, there’s already reports of cheating and problems in swing states like GA, PA & AZ. He has 5-6 point leads in those states according to reputable pollsters. This is not a razor thin margin election. People know it and won’t accept the shenanigans from the likes of Jamie “ratface” Raskin and the rest of his buddies.
Yeah, it is a bit strange, the lack of commentary. Maybe everyone’s focused too much on the election, and good news form the SM and gold. But gold shooting up and bonds falling, yields rising, when the fed is screaming that all is soooo good that we have cut and will cut again is ringing many bells. Just nobody is listening.
Merely confirmation that the fed has no influence. Follow the market, not the fed.
Weeks back so starting 11 minutes in that were in a long historic gold bull market. What he thinks will happen economically if Trump and Harris gets in or interference.
If rates go higher they might start buying bonds. Maybe they need to sell bonds. Shorter term still higher than longer term. Need to justify lowering interest rates? Like that’s going to help in the face of inflation.
Browsed the CNN market page and noticed that rates on the 10 yr. closed up at 4.393% at 5 pm EST on Friday. That’s a big jump after the SM close where I think rates were 4.31% or so?
Usually, I’ll check on Bitcoin over the weekend since it trades 24/7.
Just wondering why no one in the financial news – even ZH – is talking about the bond market. Seems like there’s a problem there. I don’t doubt that “nobody will see it coming.” That’s roughly a full point jump since the Fed cut 1/2%. The Fed meets this week, the pullback in the metals may make sense now. They love to put pressure on pm’s the week before a meeting. Seems they almost have to cut another 1/2%, but what if rates continue to move higher?
Good article. It doesn’t seem as though any of these countries want to give up the dollar system, just protect themselves in case it’s used against them.
Not sure what impact this has on gold going forward, we still have plenty of dollar problems and reasons for gold to move higher.
BRICS is balancing between reforming the Western-centric world order and creating alternative institutions, and it’s the latter which excites the group’s enthusiasts the most…
Mass corruption including enabling illegal voting. Just finished watching it. Must see. Massive corruption they don’t even get to hide stupid. From masks to spelling Trump’s name wrong on the ballots.
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