Recently, I told you I was working on a special world currency report, with profit recommendations for a large basket of currencies.
The simplest way to do this is to start with the Big Five. These major currencies serve as the “drivers” for the minor ones. In my upcoming Part 2, I’ll tell you which of the minor currencies (like the Aussie dollar or the Swiss franc) are tied to which of the major ones, how that impacts their direction, and how you can profit.
Please see the source for the video.
Following the biggest one-day surge in the price of gold since 2009, it is understandable that suddenly everyone who until recently was predicting the price of gold in the triple digits, or laughably explaining why “gold is doomed” wants to talk about the “pet rock.” As we showed earlier, already Goldman and Bank of America have opined with new and upwardly mobile “price targets”, while the scramble to obtain gold in a world drowning not only in negative rates but soon, cash bans, has already been unleashed. Continue reading
Getting rid of paper money may help fight terrorism and even help prop up the banks—but is there a more sinister reason for these new financial controls?
Germany is considering abolishing the €500 note and introducing a €5,000 (us$5,600) limit on cash transactions. It is part of a plan proposed by Chancellor Angela Merkel’s partners in the Social Democratic Party to cut off terrorist financing in Europe. Banning the bills will supposedly help make people safer. In reality, it will do the exact opposite.
German Deputy Finance Minister Michael Meister told Deutsche Welle on February 3 that Germany would push these reforms at the European level. “Since money laundering and terrorism financing are cross-border threats,” it makes sense to adopt a European Union-wide “solution,” he said. But “if a European solution isn’t possible, Germany will move ahead on its own” (emphasis added throughout).
The Dow is back under 18,000 points after yesterday’s 178-point – or 1% – drop.
Gold continues to wander around, apparently lost. More on that below…
Our long-term stock market indicator, developed for us by our chief researcher and former ValueLine stock market analyst Stephen Jones, is flashing a warning. Continue reading
The European Union is indeed on the ropes and their arrogance as lawyers cannot see the reality of economics. They view the world only through the power of their pen to write a law and DEMAND under threat of penalty we do as they command. This group of super–heroes lack the comprehension that people will not follow laws that make no sense or go against human nature.
These super–heroes command that everyone shall abide by austerity can only lead to the Grexit and the beginning of a period of unprecedented levels-destruction in Europe along with rising civil unrest across the continent. Anyone who has EVER worked on a foreign exchange desk knows far more about the market flows than they will ever think about with all their law degrees. Based upon the botched job they have mastered so far, the EU will descend into the final destruction phase. The idea that one government would end European wars is producing rising civil unrest and the very finger-pointing that creates war.
The ultimate consequences of this wrong policy from the outset to create a single currency without consolidating the debts of member states, has led to this crisis in the monetary system for the entire world. The consequences will certainly still be felt for many decades to come if not 112 years impacting generations of Europeans. However, the destruction unleashed in Europe will contribute to taking down the United States from its lofty perch and shift the entire new economic age to those nations who were once in the firm grip of Marxism. Continue reading
In 1971, the US abruptly went off the gold standard, and in making the public announcement, US President Richard Nixon looked into the television camera and said, “We’re all Keynesians now.”
I was a young man at the time and had previously bought gold, albeit on a very small scale, but I recall looking into the face of this delusional man and thinking, “This is not good.”
However, the world at large apparently agreed with Mister Nixon, and within a few years, the other countries also went off the gold standard, which meant that, from that point on, no currency was backed by anything other than a promise.
Party Time Continue reading
Could negative interest rates create an existential crisis for money itself?
JPMorgan Chase recently sent a letter to some of its large depositors telling them it didn’t want their stinking money anymore. Well, not in those words. The bank coined a euphemism: Beginning on May 1, it said, it will charge certain customers a “balance sheet utilization fee” of 1 percent a year on deposits in excess of the money they need for their operations. That amounts to a negative interest rate on deposits. The targeted customers—mostly other financial institutions—are already snatching their money out of the bank. Which is exactly what Chief Executive Officer Jamie Dimon wants. The goal is to shed $100 billion in deposits, and he’s about 20 percent of the way there so far. Continue reading