Recently, several major banks were unable to process hundreds of thousands of payments for days. The issues were a technical glitch with the Federal Reserve System.
The US government seized full control of gold within the US during the Great Depression; it made owning gold illegal from 1933 to 1974. So, consider no asset assuredly safe.
Manipulation of the gold market also manipulates other markets insofar as the price of gold powerfully influences interest rates and the price of everything else.
We used to worry that someday the deficit would hit a trillion dollars a year, and then it did that and worse for each of the last four years. We’re snowed in!
Stocks are perched very precariously right now with no fundamental means of support from the economy and not a lot of immediate chart-dynamic support either.
All too often the blame on coins, especially pennies and nickels, is misplaced. This certainly is not the first dispute over payment with coins, and it probably won’t be the last.
The next 2-3 weeks will likely tell us if the market is going to set up a crash, or if we are going to still rally to the 4800SPX region before a major bear market takes hold.
