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POSTED ON August 30, 2023  - POSTED IN Guest Commentaries

At its recent summit, the BRICS economic bloc announced it will add six new members, including Saudi Arabia. Many people believe the growing influence of BRICS could ultimately dent Western economic power and undermine the dollar’s role as the world’s reserve currency.

Many people frame the rise of BRICS as a battle between East and West, but economist Patrick Barron said it’s more fundamental than that. It’s actually a war between diametrically opposed economic ideas.

POSTED ON August 29, 2023  - POSTED IN Key Gold Headlines

The federal government has added $1.3 trillion to the national debt in just three months.

When the fake debt ceiling fight ended and Congress suspended the federal government’s borrowing limit for two years in June, the national debt stood at $31.46 trillion. As of Aug. 26, the debt had surged to $32.81 trillion.

And with the Biden administration running massive deficits month after month, there’s no reason to think the borrowing is going to slow down anytime soon.

POSTED ON August 29, 2023  - POSTED IN Original Analysis

There is a growing consensus that the Federal Reserve can slay price inflation while guiding the economy to a “soft landing.” In fact, Fed economists now project the US economy will not spin into a recession. Other mainstream pundits and prognosticators have taken up this narrative. But there are plenty of reasons to doubt it.

POSTED ON August 28, 2023  - POSTED IN Original Analysis

Gov. Ron DeSantis issued a state of emergency for 33 Florida counties on Saturday in anticipation of Hurricane Idalia, thus activating one of the most misguided and counterproductive economic policies imaginable.

Yes, with the sweep of his pen, DeSantis banned “price gouging.”

POSTED ON August 25, 2023  - POSTED IN Market Brief

Gold and silver rallied from the lows of last week in quiet Comex trade for gold, but more active trade in silver. In Europe this morning, gold was at $1916, up $27 from last Friday’s close, and silver was up $1.30 at $24.14.

POSTED ON August 25, 2023  - POSTED IN Friday Gold Wrap

The BRICS economic bloc announced it will add six new members, including Saudi Arabia. The growing influence of BRICS could ultimately dent Western economic power and undermine the dollar’s role as the world’s reserve currency. In this episode of the Friday Gold Wrap, host Mike Maharrey talks about the ramifications of BRICS expansion, de-dollarization, and the possibility of a BRICS currency. He also talks about how silver is inexcusably low.

POSTED ON August 24, 2023  - POSTED IN Alasdair Macleod Commentary

It is slowly coming clear that the fiat dollar’s hegemony is drawing to a close. That’s what the BRICS summit in Johannesburg is all about — rats, if you like, deserting the dollar’s ship. With the dollar’s backing being no more than a precarious faith in it, it is bound to be sold down by foreign holders. Being only fiat, it could even become valueless, threatening to take down the other western alliance fiat currencies as well.

How do you protect your paper wealth from this outcome? Some swear by bitcoin and others by gold.

This article looks at what is likely to emerge as a replacement currency system, and concludes that from practical and legal aspects, bitcoin and the entire cryptocurrency industry will fail with fiat, while mankind will return to gold, as it has always done in the past when state control over currency fails

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