The Wall Street Journal published an in-depth story recently about an armed drug cartel that’s illegally mining gold from a China-owned mine in Colombia.
Cortez and Zang agree that without a shift to sound money practices, America’s monetary system is at risk of continued devaluation and loss of purchasing power.
Given the pace at which central banks keep buying gold since the war in Ukraine, we may conclude they foresee the end of the dollar hegemony is nearing.
While gold and silver are experiencing a temporary pullback, history shows that all major bull markets have corrections along the way—and they often emerge stronger.
Interest rates are the price of money and are shaped by a variety of constantly changing factors. When the Fed manipulates interest rates, it distorts the signals sent to investors. The result is the boom-bust business cycle.
India has brought more of its gold home. Last spring, the Reserve Bank of India repatriated 100 tons of gold, moving it from the UK to vaults within India's borders.
Countries outside the eurozone but in the EU, like Poland, Hungary, and the Czech Republic, are positioning for a new gold standard, potentially joining the eurozone in the future.
