Kitco News
(Kitco News) – Non-fungible tokens, or NFTs, are minting new millionaires overnight, and this brand new asset class is not only here to stay, but on the way to revolutionizing commerce as we know it, said Ian Rogers, chief experience officer of Ledger.
The post What are NFTs and why pay millions for them? ‘Certainly a bubble’ says Ian Rogers appeared first on WorldSilverNews.
Yahoo! Finance: SI=F News
Mexico could revoke a concession held by Canadian miner Americas Gold and Silver Corp in northern Mexico if it does not accept its new trade union representation there, President Andres Manuel Lopez Obrador said on Wednesday. Speaking at a regular news conference, Lopez Obrador said he would direct his foreign minister to speak to Canadian officials about the dispute playing out at Toronto-based Americas Gold and Silver’s San Rafael mine, located in Sinaloa state.
The post UPDATE 1-Mexican president pressures Canadian miner over union dispute appeared first on WorldSilverNews.
Kitco News
(Kitco News) – The silver squeeze movement is still ongoing, said Ivan Bayoukhi, founder of WallStreetSilver, whose number one goal is to wake up “billions of people to getting silver.”
The post Why is the #SilverSqueeze still happening? WallStreetSilver founder reveals motives appeared first on WorldSilverNews.
Kitco News
(Kitco News) – The Agreement amends the 2003 Transfer Agreement and provides a modernised legal and financial framework.
The post Greece ratifies amended investment agreement with Eldorado Gold appeared first on WorldSilverNews.
Stefan Gleason
Wed, 03/17/2021 – 11:39
CoinDeslDamanick Dantes/3-15-2021
“Everything old is new again, and that includes investor complacency when it comes to inflation. Ian Shepherdson, chief U.S. economist for the forecasting firm Pantheon, thinks that complacency is due to the anemic pace of price increases in recent years. The same thing happened in the early 1960s – just before the double-digit inflation that spilled into the 1970s, he wrote in a report Monday.”
USAGOLD note: Inflation snuck up on the country in the 1960s, then exploded in the 1970s. Gold, after two U.S. dollar devaluations and a decade of runaway inflation, went from $35 to $650 using the London Fix as a reference.
Gold Price
(1965-1980, LBMA)
Sources: St. Louis Federal Reserve, ICE Benchmark Administration
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The Mises Institute/Joseph T. Salerno/3-15-2021
“The first step in theorizing correctly about money is to understand that the value of money, like that of commodities, is never fixed and unchanging. Chinese philosophers who published the earlier Mohist Canons(468 B.C.~376 B.C.) grasped this crucial point. They recognized that metallic money, such as the “knife coins” then in wide circulation, was valued and exchanged by weight and argued that the real value of money, despite its fixed face value, was not stable but fluctuated inversely with the prices of commodities. When commodity prices were high, money was “light” or its purchasing power low; when prices were low, money was “heavy” or its purchasing power high. Thus, if monetary conditions were such that the nominal prices of commodities were abnormally high, the real prices of commodities were not high but rather money was “light” or depreciated.”
USAGOLD note: According to Salerno, much of what we understand about sound money was first explored in ancient China centuries where metallic coinage was first introduced in the 12th century BC or earlier. This article serves as an interesting introduction to Chinese monetary theory and philosophy. We recall that China was also the first country to experiment with paper money as an alternative to coins made from precious metals. As might be expected, those experiments led to several instances of runaway inflation.
Image: Ancient Chinese spade money made from mostly copper. Tchou dynasty – 1558-1050 BC., British Museum Collection from Catalogue of Chinese Coins by Terrien De Lacouperie (1892), Black and white rendering, public domain.
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