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Keyword: goldbugs

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  • Iran and Russia Discuss Transacting in Crypto to Avoid International Sanctions

    05/18/2018 9:19:49 PM PDT · by TigerLikesRooster · 11 replies
    Coin Telegraph ^ | 2018-05-18 | Molly Jane Zuckerman
    Iran and Russia Discuss Transacting in Crypto to Avoid International Sanctions Molly Jane Zuckerman Iran and Russia could start using cryptocurrencies to avoid Western sanctions, Russian news portal RBC reported yesterday, May 17. Mohammad Reza Pourebrahimi, the head of the Iranian Parliamentary Commission for Economic Affairs, referred to cryptocurrencies as a promising way for both countries to avoid US dollar transactions, as well as a possible replacement of the SWIFT interbank payment system. At a meeting with Dmitry Mezentsev, the Chair of the Federation Council Committee on Economic Policy, Pourebrahimi said that they have “engaged the Central Bank of Iran...
  • Sound Money Bill in Congress Would Define Dollar as Unit of Gold

    04/05/2018 9:08:42 PM PDT · by WisconsinRep · 40 replies
    The New American ^ | 05 April 2018 | Alex Newman
    Legislation introduced in Congress recently would define the U.S. dollar as a fixed amount of gold, a move that supporters say would help stabilize the monetary system while protecting savers, workers, and investors from the ravages of inflation. If signed into law, the bill would also restrict the ability of the controversial Federal Reserve System to confiscate the American people's wealth and manipulate the economy by expanding the currency supply. President Donald Trump has publicly supported the idea of returning to a gold-backed dollar, but the prospects for the new legislation remain uncertain. The legislation, H.R. 5404, would “define the...
  • We Never Could Have Imagined (Or Prepped For) What Actually Happened In Venezuela

    03/11/2018 10:40:19 AM PDT · by blam · 106 replies
    SHTF Plan ^ | 3-11-2018 | JG Martinez D.
    Can we prepare for everything? We never could have imagined…or prepped for…what happened in Venezuela. In this article, I wanted to analyze my preps, and the nature of the apocalypse we have been forced to face. I don’t know about you, but anything that kicks you out of your place, of your warm bed, your pets, kids, wife, and the rest of your family, for me does not have another better word to describe it. My comfort bubble was destroyed, my work of an entire life was thrown out by the window, my family insurance full coverage policy is gone...
  • It's Time to Create New Republics

    03/01/2018 11:42:46 AM PST · by Brian Griffin · 4 replies
    03/01/2018 | Brian Griffin
    Article IV, Section 3 of our Constitution provides that "The Congress shall have the power to dispose of and make all needful rules and regulations respecting the territory or other property belonging to the United States." A Republican-run state might buy up a few square miles of unoccupied land and sell it and the state sovereignty over it to the federal government. The federal government might then sell it off to a state-authorized private party who promises to create a new republic on it with: 1. limits on taxation/governmental fees/fines/licensing, and 2. no foreign military force, and 3. no governmental...
  • Opinion: Investors who believe in a free lunch are about to get a very expensive bill

    02/21/2018 9:00:38 PM PST · by cba123 · 7 replies
    Marketwatch ^ | February 21, 2018 | Nigam Arora
    Martketwatch -- (and now, for a contrarian column) -- More and more investors believe there is a free lunch. That is, you get something for nothing. In investing, people have been getting a free lunch: Stocks (and bonds) have been rising for years without a bad turnout. Will there ever be consequences of massive money printing by central banks, $20 trillion in national debt, a high trade deficit, underfunded social-program liabilities and higher deficits resulting from tax reform? One would think so. In theory, gold is supposed to be a hedge against the supposed free lunch investors are enjoying. In...
  • How Ending The Gold Standard Impacted The US Economy

    02/15/2018 1:40:13 PM PST · by davikkm · 59 replies
    IWB ^ | Daniel Carter
    Politicians, economic “experts” and the talking heads in mainstream media will never tell you that monetary policy is the most important issue facing the United States. Whether you realize it or not, monetary policy has a direct and significant impact on all our lives. When the US abandoned the gold standard in the early 1970’s, it steered our economy toward a cliff that we are closer than ever to driving over. Once the gold standard ended, the Nixon administration went to Saudi Arabia to strike up a deal that would give immense power to the US’s rent-seeking elites for many...
  • South Africa gold mine: About 950 workers trapped [stranded] underground

    02/01/2018 10:21:57 AM PST · by BenLurkin · 8 replies
    [A] storm caused a power cut and blocked their way out. Without electricity, the lifts could not bring night shift workers to the surface, but they "appear to be fine", a spokesman for their employer said. He said about 65 miners have so far been rescued and all are accounted for. South Africa is a leading gold producer, but the industry has often been accused of a poor safety record. The Beatrix mine is in Welkom town, about 290km (180 miles) south-west of Johannesburg. It is owned by Sibanye-Stillwater mining firm. It has 23 levels, going down to 1,000 metres...
  • ISIS introduces ‘Golden Dinar’ currency, Hopes it will collapse U.S. dollar

    07/06/2016 5:12:05 PM PDT · by Fali_G · 45 replies
    The Foreign Desk ^ | 07/06/2016 | Lisa Daftari
    ISIS is now issuing its own currency referred to as the ‘Golden Dinar,’ with engravings bearing the words “Islamic State.” The coins, currently being released in limited quantity, are to primarily be used by traders in the oil industry in areas under Islamic State control, according to reports on jihadi online forums. Activists in Deir ez-Zor, Syria reported oil traders have been ordered to use the new Dinar when purchasing from ISIS-held oil fields. Reports from the Iraqi city of Mosul have indicated the Golden Dinar is being introduced to the currency market as part of a serious attempt to...
  • April 16, 2012 Vilnius, Lithuania : $7 Gasoline. Thanks Ben.

    07/05/2016 4:36:48 PM PDT · by vannrox · 23 replies
    SovereignMan.com ^ | April 16, 2012 | simon black
    The consistent theme from my travels so far in Europe– the UK, Scandinavia, Lithuania– has been noticeably higher prices. Shockingly so, in some instances. London, where I spent a rather pleasant and rare sunny weekend with friends and colleagues, has gone from being ‘stupid’ pricey, to just plain absurd. Tube prices, taxi fares, food prices, restaurant bills, train fares… it all keeps going up. And to cap it all off, the British government’s VAT increases have ensured that absolutely everyone is paying a little bit more. Here in Lithuania, the buzz around town is the spiraling gasoline prices, which have...
  • How Fiat Money Destroys Culture

    06/21/2016 2:38:18 PM PDT · by Lorianne · 17 replies
    Mises Wire ^ | 07 June 2016 | Jörg Guido Hülsmann
    It may seem unusual that an economist would talk about culture. Usually, we talk about prices and production, quantities produced, employment, the structure of production, scarce resources, and entrepreneurship. But there are certain things that economists can say about the culture, and more precisely, that economists can say about the transformation of the culture. So what is culture? Well, to put it simply, it is the way we do things. This can include the way we eat — whether or not we dine with family members on a regular basis, for example — how we sleep, and how we use...
  • Potential Political, Market Fallout From Brexit (video)

    06/20/2016 7:28:48 AM PDT · by SunkenCiv · 14 replies
    Fox Business ^ | June 17, 2016 | Mornings with Maria (Bartiromo)
    Fairfax Global Markets CEO Paul Dietrich on the potential market implications of a British exit from the European Union, the state of the U.S. economy and the 2016 presidential race.
  • Saudi Authorities Panic As Speculators Drive Currency Down

    06/06/2016 1:26:43 PM PDT · by bananaman22 · 19 replies
    Oilprice.com ^ | 06-06-2016 | ZH
    With Saudi Riyal forwards plunging back below 3.81, dramatically weaker than the current peg, Bloomberg reports that Saudi authorities are cracking down on currency traders as speculation mounts that the world’s biggest oil exporter won’t be able to maintain the riyal’s peg to the dollar as revenue plunges. Saudi Arabia ordered banks in the kingdom to stop selling some products that allow speculators to bet against its currency peg just days after demanding information from lenders on the offerings, according to people with knowledge of the matter. The Saudi Arabia Monetary Agency sent a circular to banks this week saying...
  • Saudi central bank bans use of options against riyal: executive

    06/06/2016 1:22:30 PM PDT · by Lorianne · 3 replies
    Reuters ^ | 05 June 2016 | Faisal Al Nasser
    Saudi Arabia's central bank has told banks it is banning the use of options and other derivatives to speculate against the riyal, in a new effort to reduce pressure on its currency peg, a senior executive at a Saudi bank told Reuters on Sunday. The Saudi Arabian Monetary Agency "wants to make sure that there is no snowball effect against the riyal in the forwards markets", the executive said, declining to be named because of commercial sensitivities. "So now banks in the country are banned from accepting any options against the riyal." Non-speculative trade in the riyal forwards market is...
  • Donald Trump, The Gold Standard, Maynard Keynes, And Our Madmen In Authority

    06/06/2016 4:56:40 AM PDT · by expat_panama · 41 replies
    Forbes ^ | Jun 5, 2016 | Ralph Benko
    Today, June 5th, is the anniversary of the birth of John Maynard Keynes, once upon a time the great foe of the gold standard. Today also, coincidentally, happens to be the anniversary of the date celebrated of FDR’s “taking America off the gold standard.” These events are not mere historical curios. The current presidential campaign, and underlying political climate, shows we are finally, maybe definitively, emerging from the academic economists’ anathema on the gold standard... ...Trump, the presumptive GOP presidential nominee, is on record as strongly appreciating the gold standard... ...The “interwar gold standard” in fact was a barbarous relic....
  • Today, June 5, 1933: FDR Ends Gold Standard, Bans Private Ownership of Gold [VIDEO]

    06/05/2016 4:03:57 PM PDT · by Tolerance Sucks Rocks · 32 replies
    Constitution.com ^ | June 5, 2016 | Dave Jolly
    Prior to the election of AmericaÂ’s longest serving socialist president, our money was backed by gold. Anyone holding our paper currency could demand to exchange it for gold at a set price. In 1913, the gold standard was officially made part of the Federal Reserve and the price of gold was fixed at $20.67 per ounce. The same law mandated that the Federal Reserve kept enough gold on hand to equal 40% of the currency issued at the time.On March 4, 1933, Franklin Delano Roosevelt was sworn into office for the first time. The day after his inauguration, Roosevelt closed...
  • Alan Greenspan Warns That Venezuelan Style Martial Law Will Soon Come To The US

    05/31/2016 10:32:00 AM PDT · by blam · 70 replies
    The Market Oracle ^ | 5-31-2016 | Jeff_Berwick
    May 31, 2016 Jeff_Berwick It seems barely a day passes now without some big name person warning of imminent collapse. The latest is Alan Greenspan. In an interview on Thursday he told Fox News that Venezuela is now under martial law and that “America is next.” He said that what was happening in Venezuela was inevitably going to take place in the US. I agree with this. In fact, we said this exact thing just last week with our article, “Venezuela Descends Into Chaos… Europe and US Next.” Funny enough, a few brainwashed sheeple said we were crazy for saying...
  • Video: Ron Paul confirms he is NOT supporting Donald Trump for U.S. president

    05/29/2016 4:18:40 PM PDT · by 2ndDivisionVet · 43 replies
    Economic Collapse News ^ | May 23, 2016 | Andrew Moran
    Former Texas Republican Congressman and three-time presidential candidate Ron Paul confirmed in an interview with the Fox Business Network that he will not be supporting Donald Trump for United States president. He said in jest that he’s waiting for Trump to become a libertarian. When asked if there’s anything that Trump could say that would help change his mind, Paul replied that he wouldn’t know what to believe since “he’s all over the map.” The entire four-minute interview is embedded below: (VIDEO-AT-LINK) This is different from his son, Kentucky Senator Rand Paul, who said he will support the GOP nominee,...
  • “Print the Money”: Trump’s “Reckless” Proposal Echoes Franklin and Lincoln

    05/16/2016 2:25:04 PM PDT · by Lorianne · 27 replies
    Source material cannot be posted to FR | 14 May 2016 | Ellen Brown
    Another left publication seemingly vetting some of Trumps positions. Yesterday I saw Steve Keen on the Keiser report reluctantly agreeing with Trump on financial issues.
  • This Is The End: Venezuela Runs Out Of Money To Print New Money

    04/27/2016 5:29:50 PM PDT · by SeekAndFind · 54 replies
    Zero Hedge ^ | 04/27/2016 | Tyler Durden
    Back in February, when we commented on the unprecedented hyperinflation about the be unleashed in the Latin American country whose president just announced that he would expand the "weekend" for public workers to 5 days...... we joked that it is unclear just where the country will find all the paper banknotes it needs for all its new physical currency. After all, central-bank data shows Venezuela more than doubled the supply of 100-, 50- and 2-bolivar notes in 2015 as it doubled monetary liquidity including bank deposits. Supply has grown even as Venezuela has fewer U.S. dollars to support new...
  • Venezuela is shipping gold to pay debt

    02/25/2016 5:44:22 PM PST · by BenLurkin · 24 replies
    krcrtv ^ | 02/25/2016 | Patrick Gillespie
    Venezuela sent $1.3 billion worth of gold bars to Switzerland in mid-January, according to data from the Swiss Federal Customs Administration. That gold was shipped out just weeks before two big debt payments due this month, totaling $2.3 billion. On Friday alone, Venezuela has to pay bondholders $1.5 billion. Venezuela is running out of cash and many experts believe there's a high chance it will default by this fall when a string of big debt payments are due. "It's a question of when Venezuela will default, not if," says Russ Dallen, managing partner at LatInvest, a firm that invests in...