Kitco News
(Kitco News) – The COVID-19 panic triggered a resurgence of physical gold and silver buying, but can this surge in sales last as mints and refineries across the world are temporarily shutting down production in an attempt to fight the spread of the virus?
The post Can surging demand for gold and silver last? COVID-19 lockdowns threaten sales, prices appeared first on WorldSilverNews.
Reuters/Paul Arnold and John Revill/3-24-2020
“Gold dealers in Switzerland are rushing to keep up with a surge in demand as worried investors seek out lower risk investments in precious metals with financial markets roiled by the coronavirus pandemic. Some sellers are seeing a ten-fold increase in sales of gold bars, coins and other pieces as existing buyers increase their holdings and newcomers enter the market.”
USAGOLD note: As mentioned previously, we at USAGOLD are experiencing a similar rush for the yellow metal. We recently sold out of our historic Swiss 20 franc gold coin inventory.
Image: A pile of pre-1933 Swiss 20 franc gold coins (Helvetia)
Project Syndicate/Noriel Roubini/3-24-2020
“But these deficit-financed interventions must be fully monetized. If they are financed through standard government debt, interest rates would rise sharply, and the recovery would be smothered in its cradle. Given the circumstances, interventions long proposed by leftists of the Modern Monetary Theory school, including helicopter drops, have become mainstream.”
USAGOLD note: Doctor Doom outdoes himself in this one. He warns at one point that even if the coronavirus is contained his year, it could potentially return next flu season and cause markets to crash again. The engame? …… a “persistent depression and a runaway financial-market meltdown,” he says.
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Financial Times/Martin Sandbu
“Some economists now call openly for explicit helicopter money in the sense that central banks should directly fund government deficits. ‘I do think the time is right for monetary finance,’ says Lord [Adair] Turner. [the former head of the UK’s Financial Services Authority]. ‘There would be a clarity of assuring people that there is no limit on the money available.’”
USAGOLD note: Not to throw cold water on the increasingly popular idea of helicopter money, but nowhere in this article are the potential consequences of its implementation addressed. Not even a passing mention …… Funny how crisis always brings out the apologists for running the money printing presses. Helicopter money is quantitative easing on amphetamines.
Repost from 3-23-2020
