In this report, I cover the early market action from London on Monday, March 25th, 2019. I look briefly at the precious metals, the stock market, the dollar, the bond market and the price of WTI and Brent crude oil.
Today I focus my attention on gold and how it is much more than just a commodity but a form of monetary insurance against a world of Central Banking and governments gone mad. I recommend "A Pocketbook of Gold" by James Sinclair and Peter Carlin and go through some of the passages in the book.
It is important to look at history and the fact that the current monetary policy of Central Banks is not normal nor sustainable in the long term and that our monetary authorities have dug themselves into a hole they will never be able to dig themselves out of.
My conclusion is that gold will act as insurance for the eventual collapse of the current unprecedented credit bubble that was supposed to save the system after the Crisis of 2008.
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Good morning mario, thanks for the update, yes hold not fold always been the long game precious metals, have a great day :)
Thanks, have a great rest of the day too.
How do you define silver?
Hi @sryutaro, I would also say silver is a monetary commodity and has been money and currency with great success until the mid to late 1960s. Unlike gold, though it also has plenty of industrial uses. I would say it is also more of a circulating currency than gold as it allows for small and less valuable transactions.
Getting harder and harder to afford silver much less gold!
But I believe either buy 10 eagles of go for 1/4 ounce eagle, either way your a winner!