Why We Think Gold Companies Can Go 10X In The Coming Boom...
Why We Think Gold Companies Can Go 10X In The Coming Boom...
Notes From the Field By Simon Black
With a current annual budget deficit of $1.6 TRILLION – set to hit $2 trillion by the time the fiscal year ends in September – the US Federal Government is putting drunken sailors everywhere to shame.
At the end of the 2019 fiscal year (just before Covid-1984 hit), the US national debt was $22.7 trillion. Today, it’s nearly 50% greater: $32.7 trillion. And it keeps growing each year.
Just yesterday, our founder, Simon Black, explained that most of the US national debt was accumulated over the past ~15 years, when interest rates were super low. The Treasury Department got accustomed to being able to borrow for less than 1%.
Why We Think Gold Companies Can Go 10X In The Coming Boom...
Notes From the Field By Simon Black
With a current annual budget deficit of $1.6 TRILLION – set to hit $2 trillion by the time the fiscal year ends in September – the US Federal Government is putting drunken sailors everywhere to shame.
At the end of the 2019 fiscal year (just before Covid-1984 hit), the US national debt was $22.7 trillion. Today, it’s nearly 50% greater: $32.7 trillion. And it keeps growing each year.
Just yesterday, our founder, Simon Black, explained that most of the US national debt was accumulated over the past ~15 years, when interest rates were super low. The Treasury Department got accustomed to being able to borrow for less than 1%.
In fact, as late as August 2021, the average interest rate that the US government was paying on its national debt was just 1.45%.
But now interest rates are MUCH higher. The government is now paying an average interest rate of 2.8%, almost twice as high as just two years ago.
The national debt is so high, though, that even 2.8% is too expensive for the US government.
This fiscal year (which ends on September 30, 2023), the Treasury expects to spend a whopping $864 billion just paying interest on the national debt. Again, that’s with an average rate of just 2.8%.
The real problem for the federal government is that roughly 75% of the debt will mature over the next five years. And as their current debt comes due, they’ll pay it back by issuing NEW debt at a HIGHER interest rate.
This means that the government’s average interest rate that it pays on the national debt could rise to 5% over the next five years.
Including all the new debt they project to accumulate over that period of time, this means that the government would have to spend $2 TRILLION of taxpayer money, each year, just to pay interest.
And frankly, paying an average 5% interest on the national debt is still pretty low given US financial history.
The average rate was 5% as recently as 2007. In 2001 it was nearly 7%. And throughout much of the 1980s, rates were in the double digits. So forecasting a 5% average interest rate on the national debt within five years is totally reasonable.
Remember too that, in addition to paying interest, “mandatory” spending on entitlement programs like Social Security and Medicare will hit $3 trillion in a few years.
This means that Social Security, Medicare, and Interest on National Debt could soon exceed 100% of the US government’s tax revenue.
This looming fiscal crisis will fast become a mainstream issue. And politicians will predictably react by raising your taxes sky high to pay for their incompetence.
Simon anticipates the Federal Reserve to try to bail out the government… by slashing interest rates back to 0% and printing trillions of dollars to buy US Treasury bonds.
The consequence, of course, will likely be more inflation.
Why buying gold – and gaining portfolio exposure to it – makes a lot of sense in 2023
As longtime readers of Sovereign Man will know, all of the above is exceptionally bullish for gold.
Now, gold can be a lot of things. It can be a great asset protection tool. It can be a great speculation. It can be a great way to pass on wealth to your kids.
But gold also has a 5,000 year track record as a reliable hedge against inflation and a range of systemic risks.
Most people suffer to some degree from normalcy bias; this is the belief that tomorrow will be very similar to today. Yet the past few years have shown that the world can become radically different… overnight.
And it is precisely during these kinds of Black Swan events and sudden system shocks that physical gold can be an invaluable asset. This is one of the reasons why gold predictably went through the roof during the pandemic.
Yet now that the dust has settled on the pandemic, few people are thinking about buying gold.
In fact, gold prices have remained pretty flat since 2022. An even better example is that many gold-related businesses (including mining companies) are currently trading at ludicrously cheap levels.
But when you consider the obvious risk of a major financial crisis in the US over the next five years, you don’t need to be a gold bug to appreciate gold’s significant potential upside…
It should also be noted that central banks were extremely active buyers of the metal in 2022, buying at a speed not seen since 1967. (Central banks’ purchasing behaviors are a key driver of gold price increases.)
Karl Bagga, the editor of our investment newsletter The 4th Pillar, (which is focused on real assets) believes that we are in the early stages of a significant bull market for gold.
Simon agrees. In fact, he’s argued a few times why gold could trade at $5,000+ in the coming years, up from around $1,900 per ounce today.
How YOU Can Cash In On The Coming “Gold Rush”...
Many investors who consider investing in gold automatically buy into an ETF (exchange-traded fund). Simon has written before that these gold ETFs carry substantial hidden risk which most investors won’t notice… unless they do what Simon does, and actually read all the legal disclosures.
That’s why, at Sovereign Man, we far prefer owning physical gold over ETFs. But more on that another time.
Rising gold prices also present tremendous upside for mining companies and related businesses, including:
Mining royalty companies
Mining financial services providers
Gold millers and refiners
Mining services companies
As well as technology and service providers for mining and complementary sectors…
These are the exact kinds of companies that regularly feature in the page of The 4th Pillar (4P), our real asset focused investment letter.
For example:
One of the recently featured companies from Karl’s research in The 4th Pillar is a gold-related business that specializes in drilling, site work, and processing.
It’s a “picks and shovels” business rather than a mine itself. So the company makes money from a gold mining boom, but without the same downside risk.
The business has been performing exceptionally well, has very little debt, and is generating record revenue with very strong profitability. And yet, with a price-to-earnings ratio (PE) of just 4.5, the stock is incredibly cheap right now.
Another example from Karl’s research is a gold ore processor; this is a company that purchases raw gold (i.e. rock ore) from small miners, processes it in bulk, then sells the processed gold to a large refiner.
Being an ore processor will position them for enormous gains in the coming gold boom; their business – already very profitable – will likely grow even more dramatically over the next few years, resulting in a big win for investors.
In the meantime, the company is already paying its investors a healthy dividend. Plus, they have zero debt and tons of cash on the balance sheet. Yet it also currently trades at a laughable 5.5x valuation.
The Bottom Line
Gold miners and gold production companies offer excellent opportunities to make serious profits from the coming boom in gold prices. And that opportunity exists right now because, for whatever reason, investors are largely ignoring the entire sector.
That’s probably not going to last.
Good investing,
Simon Black & Sovereign Man Editorial Team
To find out more, click here.
I’m Rooting For Gold To Go To Zero. Too Bad It Won’t
I’m Rooting For Gold To Go To Zero. Too Bad It Won’t
Notes From the Field By Simon Black August 15, 2023
By the time Wang Mang seized the imperial throne of China’s Han dynasty in the year 9 AD, he had already been a long-standing politician and government bureaucrat with decades of experience.
Not that Wang’s experience was especially helpful to the people of China.
As a seasoned politician, Wang’s biggest skills were setting up his opponents, cheating his way to the throne, and coming up with terrible ideas to destroy prosperity.
I’m Rooting For Gold To Go To Zero. Too Bad It Won’t
Notes From the Field By Simon Black August 15, 2023
By the time Wang Mang seized the imperial throne of China’s Han dynasty in the year 9 AD, he had already been a long-standing politician and government bureaucrat with decades of experience.
Not that Wang’s experience was especially helpful to the people of China.
As a seasoned politician, Wang’s biggest skills were setting up his opponents, cheating his way to the throne, and coming up with terrible ideas to destroy prosperity.
China’s Han dynasty had once been the pinnacle of civilization, most likely even surpassing the grandeur and wealth of the Roman Republic and ancient Greece. But Wang was one of the key figures who helped tear it down.
As emperor he was a total disaster. Wang had a thing for social and economic justice… so he imposed a bunch of idiotic land reforms to reduce inequality and form a more egalitarian society.
Instead of the ‘justice’ that he had envisioned, agricultural production plummeted and a lot of people went hungry.
Failing to see his error in judgment, Wang Mang doubled down by nationalizing entire industries, which only stifled investment and entrepreneurship.
Soon the Chinese economy was in the dumps. Prices soared. So the Emperor then (naturally) hatched the genius idea of imposing severe price controls… resulting in even more shortages and economic hardship.
He then tried to fix the shortages by taking over the labor market and essentially try to control what everyone did and where they worked.
But Emperor Wang wasn’t quite finished with his crusade for justice. He tried to pay for his mistakes by severely debasing the currency… which caused even more inflation and social unrest.
Wang Mang’s story is one of how complete and total incompetence results in disastrous consequences for an entire nation. History has witnessed countless other examples… and we’re seeing it play out again in our own time.
Today’s incompetent leadership is just as bad as Wang Mang; as I spelled out in yesterday’s missive, the US government has lost all ability to live within its means. They have spent trillions of dollars on their perverted ‘justice’ programs and environmental crusades.
Spending has gotten so bad that a $2 trillion yearly deficit is NOTHING anymore. Yet the continued accumulation of these deficits has created a gargantuan national debt.
As I mentioned yesterday, MOST of US national debt will mature over the next several years. Since the Treasury Department clearly does not have the money to pay back $25+ trillion in debt, their only option will be to issue NEW debt to pay off the old debt.
The problem, of course, is that the new debt comes with MUCH higher interest rates… and I explained that simply paying interest on the debt could exceed $2 trillion within the next five years.
On top of that, mandatory entitlement spending like Social Security and Medicare will hit $3 trillion. This means that just paying for Social Security/Medicare, and interest on the debt, could exceed 100% of tax revenue.
This scenario is potentially just five years away. At that point, it will be almost impossible for investors to have confidence in US government bonds.
US government bonds have long been considered the safest asset in the world. But if the Treasury Department has to blow $2 trillion just to pay interest, investors will quickly start looking for other safe havens. And one of those will be gold.
Think about it: there’s (currently) $32+ trillion in total US government bonds. This is MUCH larger than the gold market. So if even a small fraction of that US debt were to flow into gold instead, the gold price would go through the roof.
But there’s another scenario to consider, which frankly I think is more likely: the Fed steps in to save the US government.
One of the key reasons why the US government is in trouble (aside from their horrific spending habits) is that interest rates are so much higher than they used to be.
So the Fed can help the government out by slashing interest rates back down to 0%, which will make it affordable for the US government to finance its debt.
But this would come at a consequence; if the Fed slashes rates back down to zero, this would almost certainly result in another nasty bout of inflation… which would also mean higher gold prices.
So either scenario is bullish for gold.
Of course these two scenarios don’t even scratch the surface of all the political, financial, and economic problems in the US.
For example, there are still major risks lurking in the US banking system, including the fact that the Federal Reserve itself is hopelessly insolvent.
Social Security has less than a decade until it needs a bailout to the tune of tens of trillions of dollars.
And there’s also the likely possibility of the US dollar losing its dominance as the global reserve currency, likely this decade.
Gold should perform extremely well in any of these scenarios.
So in what scenario does gold NOT do well?
Well, gold does poorly in the “everything is just fine” scenario.
The war ends. Sensible politicians reign in spending. China plays nice and stops threatening to invade Taiwan. Economic growth goes through the roof. Inflation falls due to high levels of productivity and relative peace. Global trade booms.
As I’ve written before, this scenario is completely achievable, presuming competent leaders were in charge. And I’m really rooting for it.
In this scenario, gold would become a pointless relic… but I would happily welcome that outcome because everything else would be fantastic.
Unfortunately that scenario is unlikely… because the world is being run by a bunch of morons like Wang Mang.
If you feel like the trend in the world is more stupidity, more war, more socialism, more bad leadership, then you really ought to consider owning gold. In my view, a $5,000+ gold price is a pretty conservative estimate of where things go from here.
To your freedom, Simon Black, Founder Sovereign Man
https://www.sovereignman.com/trends/im-rooting-for-gold-to-go-to-zero-too-bad-it-wont-148054/
Economic Thoughts from The Atlantis Report and Heresy Financial 8-4-2023
Will The BRICS Currency Take Down The US Dollar?
Atlantis Report: 8-3-2023
With the dollar making up 58% of the world’s foreign exchange funds and being used in 88% of overseas deals, it is clear that the dollar is the most important currency in the world.
Yet, since Russia invaded Ukraine, de-dollarization, which means lowering an economy’s dependence on the U.S. dollar for foreign trade and banking, has been speeding up.
The BRICS countries have been working on many projects to reduce their dollar reliance. Over the past year, Russia, China, and Brazil have used non-dollar assets like the yuan more often when doing business across borders.
Iraq, Saudi Arabia, and the United Arab Emirates are all looking for ways to avoid using the dollar.
Will The BRICS Currency Take Down The US Dollar?
Atlantis Report: 8-3-2023
With the dollar making up 58% of the world’s foreign exchange funds and being used in 88% of overseas deals, it is clear that the dollar is the most important currency in the world.
Yet, since Russia invaded Ukraine, de-dollarization, which means lowering an economy’s dependence on the U.S. dollar for foreign trade and banking, has been speeding up.
The BRICS countries have been working on many projects to reduce their dollar reliance. Over the past year, Russia, China, and Brazil have used non-dollar assets like the yuan more often when doing business across borders.
Iraq, Saudi Arabia, and the United Arab Emirates are all looking for ways to avoid using the dollar.
And central banks have tried to put more of their savings into gold instead of the dollar.
The End of Japan's Yield Curve Control
Heresy Financial: 8-4-2023
The Bank of Japan shocked markets with a surprise change to its yield curve control. The biggest shock being this is not a standard change to yield curve control where they say, hey, instead of interest rates being capped at half a percent, we'll let them go up to 1%.
In this case, it's a mash-up that leaves investors wondering what the Bank of Japan will do.
TIMECODES
0:00 BOJ Shocked the Markets
0:46 What is QE?
5:36 What is YCC
8:12 Japan's Prior Policy
8:59 Japan's Move to QE
10:38 What This Means for US
BRICS Nations JUST STUNNED Everyone With Massive Gold Buying Spree | Huge Threat To The Dollar
BRICS Nations JUST STUNNED Everyone With Massive Gold Buying Spree | Huge Threat To The Dollar
Tech Revolution: 7-27-2023
In a rapidly changing global economy, a new financial powerhouse emerges, reshaping the dynamics of international trade and monetary policy. The BRICS, an alliance of five major emerging economies - Brazil, Russia, India, China, and South Africa, are paving the way towards a bold economic future.
As the world's leading economies, the BRICS have been making strategic moves to secure their financial sovereignty. Join us as we delve deeper into the rise of the BRICS and their quest to shape a new financial frontier.
BRICS Nations JUST STUNNED Everyone With Massive Gold Buying Spree | Huge Threat To The Dollar
Tech Revolution: 7-27-2023
In a rapidly changing global economy, a new financial powerhouse emerges, reshaping the dynamics of international trade and monetary policy. The BRICS, an alliance of five major emerging economies - Brazil, Russia, India, China, and South Africa, are paving the way towards a bold economic future.
As the world's leading economies, the BRICS have been making strategic moves to secure their financial sovereignty. Join us as we delve deeper into the rise of the BRICS and their quest to shape a new financial frontier.
Russia's been telling them how crucial it is to tie their shiny new currency to gold, which could shake things up for the U.S. dollar. They're aiming to challenge its dominance and global reserve status.
The news is that they're already busy hoarding gold like there's no tomorrow! In just 18 months, these BRICS nations have ramped up their gold buying like nobody's business. And China is leading the bloc, snagging a whopping 102 tonnes! Russia doesn’t fall behind either, with 31.1 tonnes in the past six months, and India finally jumped back on the gold train, adding 2.8 tonnes to their reserves after more than a year.
That's some serious gold-stacking action! So why all this gold fuss? Well, it turns out gold is considered a pretty safe investment, way more reliable than the unpredictable U.S. dollar with all its debt-related risks.
The BRICS are probably thinking, "Why rely on the dollar when we can back our new currency with gold?" Smart move, I'd say! This whole BRICS gold-backed currency situation might just give the U.S. dollar a run for its money.
If more countries jump on board the BRICS train, their currency could become the top choice for international transactions! Imagine that.
So, the BRICS are cooking up something exciting for their August summit in South Africa. Things are getting pretty interesting, don't you think? So with all these happening around Gold, the entire precious metals gang is soaring to new heights like superheroes, with eye-popping gains that are making heads spin.
And guess what? It's just the beginning of these precious metals. As we’ve mentioned, the tensions between some big Western economies and Russia, along with other BRICS countries like Brazil, India, China, and South Africa, are reaching a boiling point.
They've decided to step up and challenge the almighty U.S. dollar's dominance. That's like the cool squad joining forces against the big boss! Now, let's rewind a bit.
Remember those crazy money-printing schemes after the pandemic hit? Well, they caused global inflation to skyrocket and unleashed a cost-of-living crisis like never before. As a result, there's a movement gaining steam called "de-dollarization," where folks are trying to reduce their reliance on the mighty dollar.
These emerging market economies are feeling the pressure, facing rising inflation, weakening currencies, and getting all jittery about U.S. interest rates. So, they're like, "Hey, let's diversify our money game!" And what's their secret weapon? Gold!
Since 2022, central banks worldwide have been on a gold-buying spree like never before. Russia, China, and India, representing the BRICS gang, are leading the charge. They've got plans to stack up a whopping 700 metric tons of gold, worth a staggering $49 billion by the end of the year. Seriously, it's gold fever out there.
In 2022, central banks bought over double the amount of gold compared to the previous year, setting a record high in demand. And guess what? They're about to do it all over again this year! Gold is like their secret weapon against the dollar's domination.
And what about the other metals? So, get this, silver prices have shot up a whopping nine percent this week. Can you believe it? And that's not all. Gold has broken out to six-week highs, oil prices are at a two-month high, and even Palladium joined the party with a six percent breakout. Copper prices are up eight percent, and platinum decided to jump on the bandwagon too with a seven percent breakout.
It's like a Commodities Fiesta. Oil is not missing the party either, rocking at two-month highs with over 5% gain. In the coming days though, we've got a heads-up for you—the FED is going into a blackout period.
More Details In The Video
Will It Really Be Gold-Backed? | Dr. Edwin Vieira Part 1 and 2
Will It Really Be Gold-Backed? | Dr. Edwin Vieira
Liberty and Finance: 7-20-2023
How might a BRICS gold-backed currency work? Dr. Edwin Vieira discusses how a gold-backed currency can be enforced and how the BRICS currency may have issues
. In following segments, Dr. Vieira will discuss the future of the U.S. dollar amid this new reserve currency.
INTERVIEW TIMELINE:
0:00 Intro
2:00 Gold BRICS Currency
Will It Really Be Gold-Backed? | Dr. Edwin Vieira
Liberty and Finance: 7-20-2023
How might a BRICS gold-backed currency work? Dr. Edwin Vieira discusses how a gold-backed currency can be enforced and how the BRICS currency may have issues
. In following segments, Dr. Vieira will discuss the future of the U.S. dollar amid this new reserve currency.
INTERVIEW TIMELINE:
0:00 Intro
2:00 Gold BRICS Currency
A Currency War Between US & BRICS | Dr. Vieira (Part 2)
Liberty and Finance: 7-23-2023
Dr. Vieira discusses how a honest gold-backed currency system could work. The BRICS nations looking to develop a new reserve currency which they claim it will be gold-backed. He says the US may fight back against the BRICS.
INTERVIEW TIMELINE:
0:00 Intro
1:45 Gold-backed currency
29:00 US retaliation
More News, Rumors and Opinions Thursday PM 7-20-2023
KTFA:
Get1Later: All the articles today from Allaq telling :
The Iraqi Trade Bank to provide all services quickly and accurately to their customers
A N D Informing the rest of the Banks to do business in DINARS ONLY (multiple articles) .....
Sounds to me that Allaq's ready to "Flip the Switch" ..... ASAP !!......Just my opinion !!
Margarita: Fednow just launched today as well....it is a system that makes payments much easier....
July 20 (Reuters) - The U.S. Federal Reserve has launched a long-awaited service which will aim to modernize the country's payment system by eventually allowing everyday Americans to send and receive funds in seconds, 24 hours a day, seven days a week, the central bank announced on Thursday.
The "FedNow" service, which has been in the works since 2019, will seek to eliminate the several-day lag it commonly takes cash transfers to settle, bringing the U.S. in line with countries including the United Kingdom, India, Brazil, as well as the European Union, where similar services have existed for years.
KTFA:
Get1Later: All the articles today from Allaq telling :The Iraqi Trade Bank to provide all services quickly and accurately to their customers A N D Informing the rest of the Banks to do business in DINARS ONLY (multiple articles) .....Sounds to me that Allaq's ready to "Flip the Switch" ..... ASAP !!......Just my opinion !!
Margarita: Fednow just launched today as well....it is a system that makes payments much easier....
July 20 (Reuters) - The U.S. Federal Reserve has launched a long-awaited service which will aim to modernize the country's payment system by eventually allowing everyday Americans to send and receive funds in seconds, 24 hours a day, seven days a week, the central bank announced on Thursday.
The "FedNow" service, which has been in the works since 2019, will seek to eliminate the several-day lag it commonly takes cash transfers to settle, bringing the U.S. in line with countries including the United Kingdom, India, Brazil, as well as the European Union, where similar services have existed for years.
Clare: Fed launches long-awaited instant payments service, modernizing system
By Hannah Lang July 20, 2023
July 20 (Reuters) - The U.S. Federal Reserve has launched a long-awaited service which will aim to modernize the country's payment system by eventually allowing everyday Americans to send and receive funds in seconds, 24 hours a day, seven days a week, the central bank announced on Thursday.
The "FedNow" service, which has been in the works since 2019, will seek to eliminate the several-day lag it commonly takes cash transfers to settle, bringing the U.S. in line with countries including the United Kingdom, India, Brazil, as well as the European Union, where similar services have existed for years.
FedNow is launching with 41 banks and 15 service providers certified to use the service, including community banks and large lenders like JPMorgan Chase (JPM.N), Bank of New York Mellon (BK.N), and US Bancorp (USB.N), but the Fed plans to onboard more banks and credit unions this year.
The Fed said on Thursday in a statement that 35 banks and credit unions were currently utilizing the service, as well as the Treasury Department's Bureau of Fiscal Service.
The service will compete with private sector real-time payments systems, including The Clearing House's RTP network, and was initially opposed by big banks who said it was redundant. But many have since agreed to participate on the basis FedNow will allow them to expand the services they can offer clients.
"For us, FedNow really is a wonderful way of expanding reach," said Anu Somani, head of global payables and embedded payments at U.S. Bank.
Unlike peer-to-peer payments services like Venmo or PayPal, which act as intermediaries between banks, payments made via FedNow will settle directly in central bank accounts.
The Fed also operates a real-time payments system called FedWire, but that's reserved for large-scale, mostly corporate payments and is only operational during business hours. While the new FedNow system is for everyone, it's likely to benefit consumers and small businesses the most, analysts have said.
"We want our clients to benefit from these capabilities, and we want that to be a competitive edge for us,” said Carl Slabicki, global co-head of payments for BNY Mellon’s Treasury Services.
Smaller banks, which often connect to FedWire via larger lenders, encouraged the Fed to develop FedNow, arguing that it would allow them access to real-time payments without having to pay larger competitors for the service.
“Having the Fed in the space makes our members feel more comfortable that their needs will be met, that they will be treated fairly for pricing,” said Lance Noggle, senior vice president of operations and senior regulatory counsel at the Independent Community Bankers of America, a trade group.
FedNow will not charge consumers, although it's unclear whether or how participating banks will pass on any costs associated with the service.
Democratic Senator Chris Van Hollen, who had urged the Fed to develop a real-time payments system, said in a statement the launch of FedNow is "good news for American consumers and our economy."
"The launch of FedNow will help connect Americans with their money – when they need it, immediately, in real-time – and will save consumers billions of dollars annually," he said.
Some market participants have raised concerns that FedNow could super-charge a potential bank run by facilitating fast outflows from financial institutions, a fear that was amplified after the failure of Silicon Valley Bank earlier this year.
But Fed officials have downplayed those concerns, arguing that banks have tools available to mitigate a wave of outflows.
At the outset, FedNow will have a maximum payment limit of $500,000, but banks can choose to lower that cap if need be.
Reporting by Hannah Lang in Washington; Editing by Michelle Price and Andrea Ricci LINK
************
Courtesy of Dinar Guru
Frank26 [Iraq boots-on-the-ground report] FIREFLY: Bank friends says the key to everything that we're looking for is within the oil and gas because we all know here in Iraq that when they present to us the oil and gas law it will be with a new rate because how are you gonna decide to divide up what everybody gets if you don't know what the rate is? FRANK: The key to everything is in that HCL, that's in the budget, that is waiting for the new exchange rate...
Bruce [via WiserNow] Regarding windows when would it start? ...all the bankers, all the heads of banks have been contacted. This is to go and to let their people know, it's real and it's starting. And we're underway. ...So I'm excited about where we stand right now, you guys. I think this is the closest we've ever been to having it actually manifest. And I'm excited about that.
Economic Collapse: ‘All Banks To Fail’, Fed’s Powell To Resign | Peter Schiff & David Hay
7-19-2023
ALERT! JP Morgan's $60 Trillion "Weapon of Mass Financial Destruction" is PRIMED & READY!
(Bix Weir) 7-20-2023
There's talk of a "New Monetary System" using gold because all the central banks, commercial banks and most countries have MASSIVE AMOUNTS OF GOLD. It makes sense that a return to a gold standard should be one of the alternatives.
But what about Silver? Silver has been used as money for much longer than gold but there is ZERO talk of using Silver in the new monetary SYSTEM...WHY? That's simple... because those who want to continue to control our lives DON'T HAVE ANY SILVER!
What should "We the People" choose for our new monetary system? It seems obvious that Gold will help maintain the status quo but Silver would destroy the Current Monetary Masters! If we get to vote on it After the Crash...I choose SILVER!!
Mike Mahoney, Robert Kiyosaki and Andy Schectman 7-19-2023
S-Curve Rejection of US Dollar Is Here NOW
Mike Mahoney: 7-19-2023
Over the last two months we have seen an unprecedented acceleration of what Mike Maloney refers to as ‘The Death of the Global US dollar Standard’.
With over 41 nations around the world now looking to join BRICS and seeking alternatives to the U.S. dollar, the pace of change is faster than ever.
We could very well be witnessing the early stages of a new monetary shift that will impact everyone on the planet.
Have you ever wondered what this means for the United States? Or how these shifts could impact your financial future?
S-Curve Rejection of US Dollar Is Here NOW
Mike Mahoney: 7-19-2023
Over the last two months we have seen an unprecedented acceleration of what Mike Maloney refers to as ‘The Death of the Global US dollar Standard’.
With over 41 nations around the world now looking to join BRICS and seeking alternatives to the U.S. dollar, the pace of change is faster than ever.
We could very well be witnessing the early stages of a new monetary shift that will impact everyone on the planet.
Have you ever wondered what this means for the United States? Or how these shifts could impact your financial future?
Join Mike in his latest video as he delves into the latest news and data, exploring the implications of these massive global changes and how you can navigate them. He describes a fascinating picture of where the U.S. might be headed in the coming years...
Gold-backed Currency Launching Aug. 22nd - Robert Kiyosaki, Andy Schectman
Robert Kiyosaki: 7-19-2023
In this highly informative podcast episode, Robert Kiyosaki and Andy Schectman provide a comprehensive analysis of the current economic landscape and shed light on its potential implications for the US dollar.
They delve deep into a range of crucial topics, leaving no stone unturned. One of the key issues they address is the ever-increasing debt burden faced by the United States. They highlight the alarming consequences of this mounting debt and its potential to destabilize the economy.
Additionally, they discuss the removal of the debt ceiling and the potential ramifications of this decision. Furthermore, Kiyosaki and Schectman draw attention to the upcoming announcement by the BRICS nations regarding a new gold-backed currency.
They explore the potential impact of this development on the global financial system and its implications for the US dollar's status as the world's reserve currency.
Golden Currency or Golden Propaganda? | Rick Rule
Golden Currency or Golden Propaganda? | Rick Rule
Liberty and Finance: 7-15-2023
The BRICS announcement of a gold-backed currency is "propaganda," says legendary investor Rick Rule.
He says the currency is likely to not be gold-backed, but if it is, will only be partially backed.
But the best days of the U.S. dollar are over, he says. "We're seeing the beginning of the end of U.S. hegemony."
Golden Currency or Golden Propaganda? | Rick Rule
Liberty and Finance: 7-15-2023
The BRICS announcement of a gold-backed currency is "propaganda," says legendary investor Rick Rule.
He says the currency is likely to not be gold-backed, but if it is, will only be partially backed.
But the best days of the U.S. dollar are over, he says. "We're seeing the beginning of the end of U.S. hegemony."
More News, Rumors and Opinions Tuesday PM 7-11-2023
KTFA:
Clare: A government delegation from the Kurdistan Region visits Baghdad to implement the provisions of the budget law
7/11/2023
A delegation from the Kurdistan Regional Government is scheduled to visit the capital, Baghdad, in the next few days, in order to proceed with the implementation of the provisions of the general financial budget law for Iraq.
Omid Sabah, head of the regional cabinet office, said that the relationship between the regional government and the federal government is at a good level.
KTFA:
Clare: A government delegation from the Kurdistan Region visits Baghdad to implement the provisions of the budget law
7/11/2023
A delegation from the Kurdistan Regional Government is scheduled to visit the capital, Baghdad, in the next few days, in order to proceed with the implementation of the provisions of the general financial budget law for Iraq.
Omid Sabah, head of the regional cabinet office, said that the relationship between the regional government and the federal government is at a good level.
Regarding the existence of constitutional observations related to the budget law, Sabah said in his statement to the "Kurdistan 24" satellite channel, which is close to the Kurdistan Regional Government, that the Prime Minister of the region, Masrour Barzani, and the Prime Minister of the Federal Council formed two high-level teams, each separately, to implement the articles of the budget law.
According to the Kurdish government official, the delegation of the Kurdistan Regional Government is scheduled to visit Baghdad at the end of this week or the beginning of next week to proceed, in a practical way, to implement the provisions and articles of the Federal Budget Law. LINK
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Clare: Parliament Finance Announces The Date Of Launching The Provincial Allocations From The Budget
7/11/2023
The Parliamentary Finance Committee announced today, Tuesday, the date for the start of the governorates’ allocations from the budget.
Committee member Mueen Al-Kadhimi told Earth News, “Through our follow-up with the Ministry of Finance, next Sunday, allocations to the governorates and ministries will be launched to implement the 2023 budget and send instructions for implementing the budget, its schedules, texts and agreed items.
And he added, “The House of Representatives will have a serious follow-up to implement this budget, starting with the presidency of the Council and the heads of committees, each according to its competence and according to the relevant ministry,”
Pointing out that “the Finance Committee is the first concerned with following up on the implementation of the budget, and it will also include the allocations of the Emergency Support Law, amounting to 25 trillion, which were allocated in 2022 and act in 2023 in order to ensure the proper implementation of the budget and its provisions, and to stand up to any cases of penetration or corruption. LINK
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Clare: The Governor of the Central Bank of Iraq presides over a meeting with bank departments in Erbil
July 10, 2023
Today, Monday, His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, chaired a meeting with bank departments located in the Kurdistan region of Iraq.
During the meeting, they discussed the affairs of the banking sector in the region and upgrading its work to keep pace with developments, enhance financial inclusion and spread the culture of electronic transactions.
What was presented by the Association of Iraqi Private Banks about the procedures related to the projects put forward by the Central Bank of Iraq during the past weeks, represented by the establishment of the Al-Riyadah Bank for Small Projects and the Loan Guarantee Company and the establishment of the Finance and Business Center, was also reviewed, praising the positive steps and progress made in them.
His Excellency had, on the sidelines of his visit to the region, visited the branch of the Central Bank in Erbil, and held a meeting with the General Manager of the branch, Mr. Kazem Namik Ahmed, and department officials, listening to the mechanism of the branch's work and the challenges facing its work.
His Excellency urged the branch's employees to work diligently, and to provide the best banking services to the residents of the geographical area that the branch supervises, directing the need to strengthen the supervisory and oversight position of the Central Bank over banks operating within its jurisdiction.
Central Bank of Iraq
Media Office
10 - July - 2023
Courtesy of Dinar Guru
Nader From The Mid East You see Iran try to switch and try to pay Iraq or...paid from Iraq with the Iraqi dinars. They know something is going on. They know they're gonna make money off it. They know something that's happening...If everyone decide tomorrow to get paid with the dinar instead of a dollar from Iraq, they're not stupid. They know they're gonna triple their money...Why would somebody get paid with an Iraqi dinar? Why? Not only Iran, Turkey...Qatar...many countries are going to do the same thing...that's how it is. Good news...
Walkingstick There is a meeting the CBI is doing right now. This meeting is very important. It is about the HCL...Iraqi Stock Exchange and the Erbil Stock Exchange. Basically it's the marriage between Kurdistan and Baghdad...The CBI is also now involved with another set of meetings...to start tomorrow [Today]. You'll be able to sense it if you see articles talking about the CBI meeting with IMF, AMF, WB...If I was in charge of that meeting...I would tell them...I want to disclose to you...the date of the launching of our new national currency...This is just my opinion...If there's any value to it you're going to be looking for an article from the CBI that has these three entities [in it].
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ALERT! Silver Riggers Panicking as the Control Mechanisms are Failing! BUY SILVER TODAY!
(Bix Weir) 7-11-2023
With the Announcement of a new BRICS Gold-Backed currency being introduced in August the Silver Price Riggers have been given a DEADLINE as to WHEN the Game Ends. Have you made your final purchases yet?!
BRICS Gold Backed Currency News - Saturday 7-8-2023
BRICS Gold Plan Confirmed by Russian Sources
SD Bullion: 7-8-2023
Today a Russian state-run media channel with one of its foreign embassies as the source, added to building speculation and reports that Brazil, Russia, India, China, and South Africa, also known as BRICS nations, will introduce a new trading currency linked to gold shortly.
Ongoing claims are that an announcement is expected to be made during the BRICS summit this coming August 22-24th in South Africa.
Yet this same week, the BRICS Bank Vice President and acting CFO Leslie Maasdorp, publicly stated on Bloomberg that the group doesn't have any immediate plans to create a common currency:
BRICS Gold Plan Confirmed by Russian Sources
SD Bullion: 7-8-2023
Today a Russian state-run media channel with one of its foreign embassies as the source, added to building speculation and reports that Brazil, Russia, India, China, and South Africa, also known as BRICS nations, will introduce a new trading currency linked to gold shortly.
Ongoing claims are that an announcement is expected to be made during the BRICS summit this coming August 22-24th in South Africa.
Yet this same week, the BRICS Bank Vice President and acting CFO Leslie Maasdorp, publicly stated on Bloomberg that the group doesn't have any immediate plans to create a common currency:
Eight months in a row now China has added official gold to its reserves, adding 21 tons in June 2023 bringing its official sum to now 2,113 metric tonnes.
Of course, China also holds a lot of unofficially not yet reported gold bullion reserves with its military and state-run banks and sovereign wealth funds.
Throughout this 21st Century and especially since the 2008 global financial crisis, physical gold bullion exports have increasingly gone east to major developing economies like India and China key leading nations in the BRICS.
As well, Russia, Turkey, and other nations BRICS aligned are major players in the modern physical gold world. So it makes sense that the BRICS may want a significant impartial settlement value unit to help develop and foster a more multipolar world order ahead.
Russia Confirms BRICS Gold Backed Currency (Coming This August)
Smart Silver Stacker: 7-8-2023
Kitco reported today that Russia has confirmed a gold backed BRICS currency will be launched in August.
Is this true? What effect will it have in the gold price?
Lets dive in...
Stefan Gleason: "Is the US Returning to a Gold Standard?"
Stefan Gleason: Is the US Returning to a Gold Standard?
Palisades Gold Radio: 7-7-2023
Tom welcomes Stefan Gleason, president of Money Metals Exchange back to the show. They discuss the legalities and intricacies of purchasing and owning precious metals, as well as the taxation issues surrounding them.
Stephen explains the importance of sound money and how it can be achieved through buying and storing gold and silver. He also highlights the legislative victories of the Sound Money Defense League, such as sales tax exemptions for precious metals in several states.
Stephen then goes on to explain the difficulty of getting sales tax exemptions passed due to anticipated loss of revenue. He also explains that five states do not have income tax on gold and silver, and that Arkansas and Arizona recently passed laws exempting precious metals from income tax.
Stefan Gleason: Is the US Returning to a Gold Standard?
Palisades Gold Radio: 7-7-2023
Tom welcomes Stefan Gleason, president of Money Metals Exchange back to the show. They discuss the legalities and intricacies of purchasing and owning precious metals, as well as the taxation issues surrounding them.
Stephen explains the importance of sound money and how it can be achieved through buying and storing gold and silver. He also highlights the legislative victories of the Sound Money Defense League, such as sales tax exemptions for precious metals in several states.
Stephen then goes on to explain the difficulty of getting sales tax exemptions passed due to anticipated loss of revenue. He also explains that five states do not have income tax on gold and silver, and that Arkansas and Arizona recently passed laws exempting precious metals from income tax.
Stephen then moves on to discuss Congressman Mooney's bill which requires an audit of the Federal Reserve's gold holdings and prohibits the Fed from doing research or development of a Central Bank Digital Currency.
Finally, he discusses the idea of spending gold and silver and making it legal tender, as well as the difficulties in making it a viable option.
Stephen acknowledges that people are mainly doing it out of ideological reasons, but suggests that it may gain more traction when it becomes the only payment method someone will accept. Time Stamp References:
0:00 - Introduction
0:50 - State Tax Reform
5:30 - Sales Tax Exemptions
12:23 - Partisan Politics
15:06 - Threshold States
22:43 - Sales & Use Taxes
25:16 - Taxation Reasons
29:45 - Dollar Re-Peg?
35:33 - Treasury Gold Audits
37:59 - Secrecy & Gold Holdings
39:40 - FedNow Purpose
44:47 - Digital Gold
49:47 - Concluding Thoughts
Talking Points From This Episode
- The legislative successes of the Sound Money Defense League, which has successfully passed sales tax exemptions on precious metals in several states this year.
- Stephen highlights the progress made this year in Kentucky, Maine, Vermont, Wisconsin, and New Jersey.
- Congressman Mooney's bill requiring an audit of the Federal Reserve's gold holdings could help constrain government spending and curb inflation, and his bill prohibiting the Fed from doing research or development of a CBDC.