Spot Gold Soars To Record High As Dollar Freefall Accelerates
Sun, 07/26/2020 – 23:04
Spot Gold is surging in Asian trading as the dollar is dumped.
Spot Gold traded above $1930, taking out the $1921 highs from 2011…
The dollar has crashed to 19 month lows…
Gold appears to be more and more in favor as an alternative place to allocate wealth amid the growing pile of negative-yielding debt (and note that cryptos are starting to get a bid for the same reason)…
The Fed wants us to believe that we should believe that there will be no inflation out of all this and to me that is a vast unknown. We have America’s fasted peacetime money-growth coexisting with the all-time 4,000-year record lows in interest rates. It’s a most curious and troubling juxtaposition there.”
Grant said aggressive moves by governments and central banks are unwise.
I think what we have is a monetary moment that is unprecedented and therefore calls for extreme caution and great humility on the parts of all of us.”
So is the “monetary moment” sparking a loss of faith in fiat?