The net result is that if Bank of America did borrow and sell short 30 million oz of gold, as I contend, the roughly $50 billion in cash proceeds and derivatives position that BofA ended up with as a result...
This is the inflation feed-back loop or vortex I’ve described in the past where inflation feeds shortages, which create more inflation as people bid up the price of goods that are more scarce.
The importance of these sound money efforts should not be underestimated. After all, taxes on the purchase and/or sale of the monetary metals are real disincentives against their ownership and use.
The United States still lags behind both China and Europe when it comes to the production and domestic uptake of EVs, and the world’s biggest economy has made it loud and clear it wants to challenge its rivals’ dominance.
China is more than four times larger than the US. So is India. Together they represent about 36% of humanity, the US only about 4%. We aren’t in the same league, population-wise.
Your secretary/treasurer believes that it is hard enough these days to discern what government is doing and so it is impossible to know what government will do, beyond its general objective of cheating people.
With the Consumer Price Index running at its highest rate in 40 years, inflation is becoming the most pressing economic issue of our time. While federal policymakers are exacerbating the problem, some states..
