BIS Just Intervened in The Gold Market Because All Hell Is about to Break Loose in Financial Markets
The comments below are an edited and abridged synopsis of an article by Egon von Greyerz
Donald Trump is probably the luckiest person in history to have lost an election. He doesn’t realize it yet, nor does President Biden realize how unlucky he is to have won.But that will soon change, as Biden’s presidency goes from crisis to crisis in all areas from monetary to fiscal to social and political.
The next four years could easily be four years of hell for Biden, for the US, and for the world (if Biden stays the course for the whole four years).
Up for discussion: Trump obliged as predicted; debt up 31x and tax revenue up 6x; banana republic; history—history; Biden only has one trick up his sleeve; problems in the financial system—not Covid—started the crisis; when the music stops; markets; stocks; gold; and the gold Maginot line.
“The state of the world necessitates holding gold as life insurance.Whether gold reaches $2,000, $20,000 or $200 trillion has nothing to do with the value of gold, but all to do with a bankrupt financial system and worthless fiat currencies.”