Chris Marcus
Tue, 12/29/2020 – 10:36
MarketWatch/Shawn Langlois/12-26-2020
“‘[A] 25% reduction in our standard of living’ could take place if the dollar loses its reserve status, which he says is a very real possibility. ‘Unlimited debt and irresponsible activity don’t lead to positive outcomes,” the billionaire real-estate mogul added. ‘That’s a disastrous kind of scenario.’”
USAGOLD note: Coincident with Zell’s warning, the IMF, according to a Reuters article, reports that the dollar’s share of global reserves dropped from 61.2% to 60.4% in the third quarter – its second straight quarterly decline. The drop is not an earthquake by most standards but indicates the trend about which Zell and a good many prominent money managers and economists have warned over the past year. Zell sees the dollar’s demise as ten to fifteen years away. Still, we should keep in mind that even if the process is gradual (as most foresee), it is likely to have a pronounced psychological impact in the investment arena that logically would accrue to gold’s benefit. In early 2019, Zell announced that he had purchased gold for the first time because “it is a good hedge.”
The post Sam Zell: ‘Single greatest risk’ is dollar losing status as the reserve currency first appeared on Today’s top gold news and opinion.
Financial Times/Gavyn Davies/12-27-2020
“The direction of secular stagnation after the pandemic passes into history will be crucial for asset prices.”
USAGOLD note: Liberal economists, like former Treasury Secretary Lawrence Summers, are calling upon the Biden administration to launch an “economic Marshall Plan”, according to Davies. At the same time, he warns that such a policy direction might have an adverse effect on financial markets. “Investors,” he says, “should be careful what they wish for.” Few, if any, on the Biden administration’s economic team will oppose what Summers & Company is pushing.
The post The response to secular stagnation will drive markets post-Covid first appeared on Today’s top gold news and opinion.
Welcome newcomers!
When the USAGOLD website was established in 1997, there was no Google, no Facebook, no I-Tunes, no Amazon. Instead there was just a handful of scattered websites trying to figure what this new technology was all about and how it could be used to some advantage. We were among that group. Our idea of innovation in those early days was two spinning globes on either side of the USAGOLD logo. We marveled at it; considered it state of the art.
But being among the first on the internet to have spinning globes was not our only achievement. We were also among the first to sponsor a Daily Market Report (1996), a Discussion Group (1997), Live Prices and Charts (2007) and a Mobile Website (2011) – to mention just a few of our ground-breaking internet ventures. We await the next wave of innovation so that we can offer even more value to our regular visitors.
Through our 23-year presence on the world wide web, the philosophy underlying our website has always been a simple one – to act as a guiding light for our current and prospective clientele by providing a state of the art information portal coupled with a reliable and competitive brokerage service. We had and still have no aspirations beyond that, and that pinpoint focus has paid dividends beyond anything we would have imagined in 1996.
From a humble beginning, we have grown to almost 800,000 visitors per month currently and there have been times when that count has been significantly higher. USAGOLD today remains one of the most highly referenced and visited web portals in the gold business. We once had a client tell us of visiting the Gold Souk in Dubai and being surprised that so many merchant stalls had USAGOLD on their computer screens.
If you would like to gain a better understanding of what USAGOLD has to offer to you as a current or prospective client, the menu at the top of the page is a good place to start.
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The post The USAGOLD Website – A guiding light for current and would-be clientele since 1997 first appeared on Today’s top gold news and opinion.
Peter Schiff has been driving home the fact that the Fed’s extraordinary monetary policy isn’t helping the economy. In fact, it’s setting the stage to destroy it. Peter points out that the Fed seems to think inflation is the cure for what ails us. That means the monetary and fiscal policies that resulted from COVID […]
The post Blog first appeared on SchiffGold.
The Federal Reserve has increased the money supply by an astounding amount. This is by definition inflation. But the mainstream insists this isn’t a problem because we haven’t seen a big jump in the consumer price index. CPI has been creeping up, but it hasn’t reached the mythical 2% level. The Fed has signaled it […]
The post Blog first appeared on SchiffGold.
