So, here’s a little nugget I dug out of the deep, dark depths of the internet this week.
A truck driving along a major highway in South Africa lost its load. This caused a major frenzy, not to mention a horrendous Los Angeles-style traffic jam. And what did this truck dump that resulted in such chaos?
Peter Schiff recently appeared on Ivan on Tech for a wide-ranging interview. Ivan and Peter talked cryptocurrency, gold, government debt, fiat currency, the dollar and more.
Ivan is one of the foremost experts on cryptocurrency. He is an international speaker, blockchain educator, software developer and data scientist.
Ivan and Peter don’t see eye-to-eye on everything, but they did manage to find some common ground. If you are interested in cryptocurrencies and gold, you will find their friendly debate both entertaining and informative.
Gold supply plateaued last year. Global mine output rose just a paltry 5.7 tons in 2017, according to data compiled by the World Gold Council. That represented the smallest increase since 2008.
There are certain things I see and I automatically think, “That’s a bad plan, dude.”
Gold-backed ETFs added 27.6 tons last month, growing assets by 5%. Global gold-backed ETFs collectively held 2,396 tons of the yellow metal at the end of January with a value of about $103.6 billion.
Remember the golden rule: He who has the gold makes the rules.”
And the Russians have the gold. Or at least they are in the process of getting it.
It turns out Friday’s 666-point Dow Jones plunge was just a prelude. On Monday, the Dow suffered its largest-ever drop in terms of points. It was down 1,600 at one point and ultimately lost 1,175.21 points, a 4.6% decline. According to Reuters, declines for the benchmark S&P 500 index and the Dow Jones Industrial Average were the biggest single-day percentage drops since August 2011. Monday’s crash ranks in the top-20 of all time Dow Jones drops in percentage terms.
Peter Schiff actually predicted a Monday crash in his podcast last Friday. Yesterday, he took to the microphone again, noting that even with the precipitous fall in the stock markets, the mainstream “fake financial news” remains clueless.