by Egon Von Greyerz, Gold Switzerland:
We are now in the very final stages of the most remarkable era of alchemy in the history of finance. This cycle started in 1913 with the creation of the Fed and had its death knell in 1971 when Nixon took away the gold backing of the dollar. It has been a long and slow 50 year death of the world economy and the patient has only been kept alive due to the creation of fake money, fake assets, fake (paper) gold, fake wealth, fake valuations, fake balance sheets, fake bankers, fake politicians all built on a colossal mountain of fake debt.
What will be the trigger for the coming biggest financial crisis in history? There are so many time bombs around the globe that it really doesn’t matter where and how it starts. Because when it starts, there will be a chain reaction that will lead to the most spectacular economic fireworks in history.
by Byron King, Daily Reckoning:
You need to own gold; and you need to own shares in companies that find and mine it. I lay out seven reasons below, in what I’m calling the “Seven Pillars of Gold.”
Each “pillar” reinforces the argument for holding gold.
There’s some overlap between each of the pillars. In fact, it’s fair to say that many of the reasons to own gold actually segue back and forth, bumping into each other. But it’s possible to lay out seven distinct ideas. Here they are:
Pillar One: Oil prices are rising. Doubtless, you’ve noticed it if you’ve filled the fuel tank in your car with gasoline in the past nine months. From 2015 to late 2017, we enjoyed a three year respite from the olden days of $100 oil; but now, oil has decided to get up off the mat.
by Chris Powell, Gold Seek:
Dear Friend of GATA and Gold:
Now that China seems to have seized control of the gold price, capping and suppressing it to knock commodity prices down, thereby easing the de-facto devaluation of the yuan in China’s trade war with the United States, the gold sector is more demoralized than ever. The only pulses left in the sector seem to belong to mining executives and internet sites touting shares to an ever-diminishing audience.
by Keith Weiner, Sprott Money:
We will take another break from capital destruction, to treat a topic which has come up this week. On March 11, we said:
“…central bankers do not think about gold.
Granted, they once did. In the 1960’s, there was the now-infamous London Gold Pool to keep the price of gold at $35. This is endlessly cited as evidence of current central bank price suppression, without bothering to mention that until 1971 the official US policy was to maintain the dollar to gold exchange rate of $35 to the ounce. …
But today? We see no sign that central bankers care about the price of gold.”