Loading ...Did the Democrats just Outlaw Gold?
On November 8th Gold dropped 6%. Today Gold is down 6.86% from its high on Tuesday, January 5th. And the Dollar is up only a fraction above 1% from its low.
Have I missed some very important news? Is there a massive flight from Gold to Bitcoin? Has “Bribe Me” Biden dropped dead and Kamala been made Empress?
I dunno about their stimulus plans, probably enact some law forcing the public to go green . Cashola for NY and California a guarantee. Oil up with dollar up, ‘All she wants to do is dance” song comes to mind.
It’s bond yields “spiking.”
A this point I could care less where they take gold. the whole financial system is farcical.
It helps to remember that bond yields were “spiking” in 1979-80 as Gold ran from $500 to $875. I was there and remember it well.
If the FED decides to buy ALL of the $Trillions in T-Bonds these Democrats decide to spend, the risk is a deflationary cave-in by MASSIVE bond liquidation BEFORE the inflation sets off a collapse in the Dollar. That could happen – by the insurance companies, retirement systems and also by foreign holders of US Bonds – and if it does we’re better off holding $50 Dollar bills. There is no “easy” bet or “sure thing” in what you describe as a “farcical” monetary system.
(And yes, you’re absolutely correct…farcical it is!)