Author Archives: pmontesdeoca

The U.S. Dollar, Obama And The Gold Standard

“The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit… In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value…” (Alan Greenspan, former Chairman of the Federal Reserve)

The continual and increasing issuance of U.S. dollars has steadily eroded its value. This has been particularly pronounced since abandoning the final vestige of the Gold Standard some forty years ago.

John Maynard Keynes, perhaps the single most influential economist of the 20th century, said that, “by a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens.”

The following chart shows the value of the U.S. dollar in terms of gold.

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Global Investment In Exchange-Traded Gold Funds Jumped 56% From The Prior Year

Follow the Trade, Silver with Steve Roy 11-16-12

Global Investment In Exchange-Traded Gold Funds Jumped 56% From The Prior Year

“We have a system that increasingly taxes work and subsidizes non-work.” Milton Friedman

The last World Council Gold report published on November 15, indicated that the global demand for gold weakened in the third quarter. As a result, the price of the yellow metal fell 1% after Thursday’s announcement.

Selling sentiment in gold keyed off “a weak demand summary from the World Gold Council partly influenced by very tough year-over-year comparisons to the big run-up in gold demand associated with the U.S. budget fiasco in August 2011,” said Steve Roy, Chief Technical Analyst for Equity Management Academy.

To read more click here.


Follow the Trade Silver with Steve Roy 11-12-2013

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