In this report, I cover the early market action from London on Friday, June 28th, 2019. I look briefly at the precious metals, the stock market, the dollar, the bond market and the price of WTI and Brent crude oil.
Today I revisit one of my old articles back in the day when I kept a blog called forsoundmoney. I have talked about how even the so-called hard currencies which really are just irredeemable pieces of paper have and will continue to sink versus real money or gold.
As we are at the halfway juncture for the financial year I will go through what is like a report card for all the major fiat currencies of the world versus gold and I will also look at upside down charts of gold versus these currencies which basically graphically illustrates how they have been sinking for over a decade.
My conclusion is that moving away from paper or fiat currencies is a must as I do not envisage the process of currency debasement to end anytime soon. These are my views and opinions and I always advise viewers to do their own homework and make their own decisions.
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BITCOIN: 1AkNoKzbZXJ75BbeGkD2ekUDJQNWDrBgMA
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Currencies, They Are All Sinking! Part II http://www.marketoracle.co.uk/Article850.html
The Irredeemable Currencies: They Are All Sinking. Part 1.:
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Could this be why gold has risen recently - someone noted that the dollar index does not look too good and they have started get into gold.
A point of interest:
I came across this article from The Telegraph about the banks reckless lending, quite shocking.
Concerns mount over reckless 2008-style lending in the $52 trillion shadow banking sector.
The hunt for higher yield has led to a surge in leveraged loans, collateralised loan obligations (CLOs), and other arcane high-risk instruments with echoes of the Lehman crisis.
While banks have been forced to raise their capital buffers and are deemed much safer than in 2008, the hazards have migrated to dark pockets of the vast non-bank sector. This now makes up 62pc of the $97 trillion assets of the financial industry.
Good morning mario, the meneco fix! very interesting perspective thanks, makes good sense to me! have a great weekend my friend :)