As the ECB states… “Since 1999 the global gold market has developed considerably in terms of maturity, liquidity and investor base. The gold price has increased around five-fold over the same period. The signatories have not sold significant amounts of gold for nearly a decade, and central banks and other official institutions in general have become net buyers of gold.” As market matures central banks … Continue reading Why Have a Gold Sales Agreement if You’re Not Selling Gold?
Draghi Expands ECB Stimulus With More QE and Lower Rates Listen to these guys call the play by play (article link and videos)… The average sports fan pays ridiculous prices for parking, beer, coke and 4 hot dogs for his family to be entertained by multi-millionaires playing games. The average stock market casino patron is also entertained by multi-millionaires playing games. They are calling this … Continue reading Attn. Sports Fans & Casino Patrons: ECB Play-by-Play
It is beyond me how conventional market participants can continue to play this game without having already completely lost confidence in the Central Bankers of the developed world, save for a US Fed temporarily speaking out of both sides of its mouth, at once firm on raising the Funds rate and considering NIRP. Among the developed world, the US looks relatively sound with its massive … Continue reading The Draghi Down the Rabbit Hole