GOLDBUG: What if all the gold in Fort Know has long since left the country

The Extinction Of Gold Derivatives
SATURDAY, AUG 07, 2021 – 07:00 AM
Authored by Alasdair Macleod via,

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The escape route of digital currencies probably explains why reducing the role of commercial banks in financial markets by curtailing their derivative activities is not raising serious concerns at the central bank level, let alone over the likely impact on the gold price. We can only conclude that at the highest levels of government the authorities are no longer concerned that a rising gold price is a challenge to fiat currencies and can be simply dismissed — in which case they will have underestimated the likely consequences of reversing a fifty-year tide of gold suppression.

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All fiat currencies fail; it’s just a question of when.

In the pre-Fed pre-FDR days, one could save gold and silver coins as a “store of value”.  Since then “everyone” believes in the good old U$D.

I don’t.  

Catholic high school, taught by grizzly vets of WWII and Korea turned into religious, we learned Roman history.  Often struggling over the Latin. “nequam” stuck in my mind about the amount of silver in the Roman denarii.  

On a visit to the Smithsonian, I saw a display of the French franc of Louis I to Louis XVII which went from a hockey puck of gold to a paper thin shirt button.

At least in those cases, you could see the only shrink.  Now the FRB “greenbacks” look the same but their value has shrunk to next to nothing.

I don’t know when this very ugly chicken will come home to roost, but it will come.

Anyone not saving some silver and gold coins will have a rude awakening.


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