Interesting Take on Gold
This is a key paragraph from a piece written a week ago by someone called “The Great O’Neil”. “Gold looks like it wants to go higher. It is signaling an end to American geopolitical dominance. The US Dollar is critical to international commerce and US power. The Americans are wrecking the Dollar by using it as a coercion tool against its perceived enemies. Major and minor geopolitical rivals are searching for an alternative to the US Dollar. Ideally, each country wants to replace US fiat currency with their own home grown fiat currency. They have had very little success so far. Mother Nature’s solution to fiat currency is Gold. No political power wants to use Gold as a currency, and yet they are increasingly doing so. That is what the Gold price is telling us.” So like he says, countries don’t want to use the US dollar and they don’t really like using gold but there is no alternative, so they continue to buy gold. That in the end and the long run, is all you need to know.