The surging gold price was likely a factor in the slowing central bank gold accumulation. As the World Gold Council put it, the higher price prompted “a more cautious approach.”
We walk through what actually happened, why London rather than somewhere closer to home became the destination, and what a 1930s precedent tells us about the weight behind this decision.
The Russia-Ukraine war has reached a dynamic and unpredictable moment. This is not like the ongoing US-Iran war in the Middle East, which is becoming a farce.
Maharrey compared the Fed’s predicament to missing an exit on a highway. The longer a driver is forced to keep going in the wrong direction, the more difficult and frustrating the eventual turnaround becomes.
Given that nobody is willing to do what it takes to “deal with the debt situation,” gold prices will ostensibly go up forever, or until the fiat system finally implodes.
For now, the metals are giving back a portion of their impressive August gains – but the larger monetary, fiscal, and geopolitical forces that drove that rally haven’t gone away...
