First India wages a war on cash. Next, the government is priming the people to hand over their gold. They call it ‘improving financial literacy’.
I argued for some time now that there is a war on cash. That the government is ushering us to digitise our assets to lock us into the banking system.
When it comes to precious metals, most people only think to buy gold. On this particular day, I was after topping up my silver holdings.
Today I’m going to take a look at the gold price. It’s dropped off the radar a bit lately, despite the yellow metal having a pretty good run so far in 2017.
China has been buying thousands of tons of gold even as they sell US Treasury bonds to pay offshore creditors and prop-up their currency.
If you’ve ever traded gold, you know how wild the price swings are. Here, Jim has laid out the key events behind the gold price for 2017.
If we see a gold price bounce towards the US$1,205 level, expect the promoters to shout that ‘the gold correction is over’. Don’t believe them!
When the price of gold is measured not in dollars but in rubles, yuan or rials, the percentage price increase in gold is even more impressive.
It may not seem important, but where the gold price goes next could provide a major clue on the health (or otherwise) of the world’s economy.
Gold falls 5% and the anti-gold mainstream commentators crawl out from the woodwork. So, gold is nothing but fashion according to one author.