Back in 1971, Nixon severed the last of the ties of gold to the after that fiat currencies. After the Nixon shock, the dollar stopped being as good as gold. And because all other currencies were backed by the dollar, it being the world reserve currency, that decision did not only create a fiat dollar but in effect made all currencies worthless. Worthless in the sense that where they used to represent value, they now represent the promise of value and therefore are debt!... »
Why gold is money and why money matters
October 24 2019
Industry figures the worst in 10 years, QE 4 is a fact and the number of retail bankruptcies shows an implosion of the sector. What implications does it have for the wider economy and is gold an alternative?
October 4 2019
If we are to believe the rhetoric of policymakers, the economy is running smoothly. In the various capitals, politicians, perhaps sincerely, think there are few indicators to worry about. But what do the numbers show?... »
You can not print gold.
September 13 2019
The ECB announced a new package of measures to stimulate a supposedly strong economy and boost inflation on Thursday the 12th. At the time of writing, it has just been decided to further lower the interest rate from -0.4% to -0.5% and that from November a new round of quantitative easing of 20... »
The war on cash, negative interest and the flight in gold
August 29 2019
The visitor to this website will not have missed it. Governments worldwide are going further and further in their restrictions on cash transactions. The proposal in the Netherlands is to ban cash transactions in excess of 3000 euros per transaction. In other countries the amounts are different but the principle and the arguments mentioned are the same. Cash transactions above an arbitrarily chosen amount are prohibited to reduce the "laundering" of drug and criminal money.... »