Business Insider has a piece from Dylan Grice about gold and whether it is money. I’ve talked about this recently, but I keep seeing the topic come up a lot so I thought I’d reiterate what seems (at least to me!) like a pretty logical position. Basically, gold is money, but it’s a crappy form of money:
Read more: http://tinyurl.com/l8weelq
Money – it’s something we all use every day, but rarely think about, except to lament that we don’t have enough of it.
Read more: http://tinyurl.com/mhy768b
The Euro has plummeted dropping to 12900 zone. Our Daily Bearish on the spot lies at 12940. Portugal interest rates have jumped to 8% and will move higher.Austria has closed 25% of all the branches of their bank in crisis, and we are waiting for the first crack in German banks. The EU Commission is waiting for the German Elections and will thereafter begin to look at issuing Euro-Bills to cover debts for the Union. But this is likely to be too little too late. Portugal is at great risk of just being forced into outright default and may be unable to wait for the German elections.
Read more: http://tinyurl.com/k25yp5m
“Water, water everywhere, nor any drop to drink… There is a similar situation with regard to fiat paper everywhere, but not a gold delivery to be made. The delirium cast by central bankers issuing unlimited fiat has kept so many people in a fiat-induced fog, unable to see clearly. The fog has lifted. It is all a game. See the fraudulent scheme for what it is and then fear no more. It is just a matter of time before everything unravels, as it surely is.”
Read more: http://tinyurl.com/pav269t
QUESTION: Hello Mr. Armstrong,
In a recent post you write, “HYPERINFLATION takes place not because of any threshold in the quantity of money that has been crossed. It is a matter of confidence.”
Is there any historical precedence for a people losing confidence in a currency, where it is being restricted, i.e., not printed in vast amounts?
In other words – Has a population lost confidence in fiat, that then leads to hyperinflation, where there is no monetary expansion?
Your thoughts would be appreciated.
Thanks.
Read more: http://tinyurl.com/lk2a452
With the Canadian dollar expected to continue its downward spiral well into the summer, Canadians may find themselves out of luck when it comes to bargain hunting south of the border.
Read more: http://tinyurl.com/lzc45me
TORONTO (Reuters) – The Canadian dollar is forecast to hold near current levels against the greenback in the year ahead, a Reuters poll showed on Wednesday, with the outlook for the U.S. economy and the risk its central bank will curb stimulus seen driving global currency moves.
Read more: http://tinyurl.com/lk5lfvf
Despite widespread market sentiment that the Canadian dollar is overvalued and overdue for a fall, the loonie continues to move higher against its U.S. counterpart and is within spitting distance of returning to parity.
Read more: http://tinyurl.com/chv8yh9
OTTAWA – Chris Hadfield phoned home to help unveil Canada’s new plastic money.
The Canadian astronaut commanding the International Space Station made a cameo via satellite Tuesday as outgoing Bank of Canada governor Mark Carney and Finance Minister Jim Flaherty introduced the latest in polymer currency.
Read more: http://tinyurl.com/bp8jepp
The new U.S. $100 bill is set to debut in October. Along with a sleeker, more high-tech look, the new bill has new security features designed to thwart counterfeiters. For instance, the new $100 has color-shifting ink that would be difficult for counterfeiters to duplicate. The Liberty Bell on the note will shift from copper to green when the bill is tilted.
Read more: http://tinyurl.com/bv7cbbc