Yahoo! Finance: SI=F News
Oil stocks took yet another beating this morning following President Trump’s announcement to ban travel to Europe from the United States
The post Energy Stocks Battered As Market Meltdown Continues appeared first on WorldSilverNews.
Kitco News
(Kitco News) – When asked about details on public gatherings, de Blasio said his office is “…balancing the need to keep as much normalcy in society as possible while reducing the gatherings that are causing concern.”
The post State of emergency declared in New York City appeared first on WorldSilverNews.
Kitco News
(Kitco News) – Mobius said gold will go up because the money supply is “going through the roof” as central banks react to the downturn.
The post Gold will go up because money supply is ‘going through the roof’ — Mobius appeared first on WorldSilverNews.
Kitco News
(Kitco News) – The bank’s public financial records show that on Dec. 30 the reserves’ value dropped by $800 million to $6.63 billion that day. A third source familiar with the bank’s reserves said this was, in part, due to a “withdrawal of monetary gold,” without detailing providing further details.
The post Exclusive: Venezuela removed six tonnes of central bank gold at turn of year – sources appeared first on WorldSilverNews.
CNBC/Jeff Cox/3-12-2020
“‘These changes are being made to address highly unusual disruptions in Treasury financing markets associated with the coronavirus outbreak,’ the New York Fed said in an early afternoon announcement amid a washout on Wall Street that was heading toward the worst day since 1987.”
USAGOLD note: There is obviously something more going on in financial markets than just a stock market meltdown and that “something” apparently involves the bond market. CNBC tells us that the Fed will be purchasing Treasuries across the range of maturities. By its own definition, the Fed appears to have just launched QE4.
GLINT/3-4-2020
“So while in general Covid-19 so far seems only moderately lethal, it has nevertheless prompted a knee-jerk selling of most assets and a shift into gold. It is an ill wind that does no-one any good and disease and death are never cause for celebration, but it needs to be accepted that gold in these uncertain times is proving its merit.”
USAGOLD note: Well said……Glint echoes precisely the way we feel about the situation with gold and Covid-19, and that is why we posted a link to this article even though it is a bit dated.
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The National Interest/Neil McInnes
“In fact, Hayek said, central planning led, via cumulative attempts to mend its inevitable failures, to ‘a servile state’ (he recalled Hilaire Belloc’s 1913 book of that name). It led to serfdom, to a condition ‘scarcely distinguishable from slavery.’ Moreover, any attempt at getting a little bit pregnant in this domain, by toying with moderate planning and a ‘middle way’ between capitalism and socialism, would set the democracies on a slippery slope that would end, more slowly but just as surely, in that same serfdom. The free market was not only more efficient economically but indispensable for political and cultural freedom. Its enemies were intellectuals, meddling politicians–and unbridled democracy, which is to say, oppression and spoilation by demagogues invoking the unrestricted will of the majority.”
USAGOLD note: Given the developments in American politics over the past several months, including the left’s sudden embrace of Modern Monetary Theory, it might be worthwhile to revisit the thinking of Frederich von Hayek and, in particular, his book, The Road to Serfdom. Von Hayek was awarded the Nobel Prize for Economics in 1974. The article linked is a review of that book and highlights many of von Hayek’s principles. He memorably dedicated the book to “The socialists of all parties”.
Repost from 4-23-2019, article publication date = 3-1-1998