In this report I cover the early market action from London on Tuesday, June 19th, 2018. I look briefly at the precious metals, the stock market, the dollar and the bond market.
I also report on on President Trumps announcement that he will impose another 10% in tariffs on $200 billion worth of Chinese goods being exported into the United States. China has responded by saying they will retaliate. The financial markets have reacted adversily and will probably remain under pressure for the foreseeable future.
My conclusion is that this Trade War has been brewing for almost fifty years and is a result of the anchorless fiat money system we have had since President Nixon suspended temporarily the redemprion of gold for Federal Reserve Notes or the paper dollar.
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really very good update of market you showing in your blog.. I like videos and love to watch and comment on your videos, because you are very quick to respond to a comment that I give, so I always give you support. thank you for sharing knowledge.sir @maneco64
I understand what's good about commodity backed money. But it's not without problems, either.
What do you think about the future potential of cryptocurrency to replace fiat?
I think cryptos have a future as a free market currencies. Fiat could survive alongside cryptos but would not survive if gold and silver make a comeback.
It's hard to imagine a world without some kind of commonly used currency as a measure of value be it precious metal backed or fiat. I'm guessing cryptos will best suit the machine economy, that is, payments between machines through lightning networks. They could have a role, possibly a large one as payment and settlement methods. For long-terms loans they are far too volatile and very likely will be for the foreseeable future.
Good morning maneco64, yes they say currency wars trade wars hot wars! will we get to the last one? well history (or herstory?) overwhelmingly say's yes! guess we will find out! thank you for the important updates my friend :)
Hi Andrew, Here is my new mouse pad.
nice one maneco looks great! :)
I admit, you are very productive and also interactive, I like your reviews and your analisys, are you an academic or an economic observer?
Observer.
Oh okay thank for your response
Thanks for this report my friend! Is very useful! Have a great day
This video was really interesting.Trade war threats started a month ago when Mr Trump announced tariffs on steel ... Mr Mullarkey thinks the market can absorb some of this turbulence.Thanks for sharing sir.
Thank you for the update!
haahahaha nice video dude keep it up and dont forget to follow me back