Here are the latest news items and commentary on current economics news, market trends, stocks, investing opportunities, and the precious metals markets. We also cover hedges, derivatives, and obscura. And it bears mention that most of these items are from the “tangibles heavy” contrarian perspective of SurvivalBlog’s Founder and Senior Editor, JWR. Today, we look at the prospect of a One World Currency.
Precious Metals:
Will Basel III Send Gold To The Moon?
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Arkadiusz Sieroń: Will Global Slowdown Support Gold…Or Is It Just Temporary?
Economy & Finance (One World Currency):
Fed’s QE Unwind Reaches $535 Billion, Balance Sheet Drops to $3.94 Trillion, Old Autopilot Still Engaged. JWR’s Comments: As I’ve mentioned before: The Money Multiplier Effect of QE also works in reverse, as QE is backed off. (So-called “Unwinding.”) The net effects on the economy will be painful, stifling credit and economic growth. But perhaps a deep recession is what The Powers That Be want, to make certain that DJT is not re-elected in 2020.
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BIS General Manager Outlines Vision For Central Bank Digital Currencies. JWR’s Comment: As I’ve written before, The Powers That Be only want cryptocurrencies that they can control, can fully track their use, and can use to tax the citizenry. It is all about control.
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At Wolf Street: Q1 Carmageddon for GM, Fiat-Chrysler, Toyota, Nissan, Mercedes, Mazda…
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It Begins: Former UN Under-Secretary-General Calls For One World Currency. Here is a quote:
“The best alternative would be to turn the IMF into an institution fully financed and managed in its own global currency – a proposal made several decades ago by Jacques Polak, then the Fund’s leading economist. One simple option would be to consider the SDRs that countries hold but have not used as “deposits” at the IMF, which the Fund can use to finance its lending to countries. This would require a change in the Articles of Agreement, because SDRs currently are not held in regular IMF accounts.
The Fund could then issue SDRs regularly or, better still, during crises, as in 2009. In the long term, the amount issued must be related to the demand for foreign-exchange reserves. Various economists and the IMF itself have estimated that the Fund could issue $200-300 billion in SDRs per year. Moreover, this would spread the financial benefits (seigniorage) of issuing the global currency across all countries. At present, these benefits accrue only to issuers of national or regional currencies that are used internationally – particularly the US dollar and the euro.”
Taxes:
“Breathtakingly Terrible Idea”: Top Democrat Proposes Taxing Unrealized Capital Gains
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April 2019 Tax Season Filing Tips
Commodities:
The Five Year Copper Price Chart is interesting. With recession looming, I expect copper to fall, in the next few months.
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The World’s Cheapest Natural Gas
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Is This The End Of Colorado’s Shale Boom?
Tangibles Investing:
Used-Car Market Profits from Carmageddon
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Magazine sellers across the country are presently facing short supplies due to the dramatic effect of California’s de-ban and then surprise re-ban, after only six days. Many millions of magazines were shipped into California, creating an enormous sucking sound in the market. Prices briefly spiked. And it may be a few months before things get back to normal. I hope that folks everywhere in the U.S. took my advice and stocked up before supplies got short, and prices jumped.
Cryptos:
Bitcoin Cash Explodes 50% As Asian Algos Continue Crypto Buying-Spree
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The Media’s Cringeworthy Coverage of Bitcoin’s Latest Price Surge
Provisos:
SurvivalBlog and its Editors are not paid investment counselors or advisers. Please see our Provisos page for our detailed disclaimers.
News Tips:
Please send your economics and investing news tips to JWR. (Either via e-mail of via our Contact form.) These are often especially relevant, because they come from folks who particularly watch individual markets. And due to their diligence and focus, we benefit from fresh “on target” investing news. We often get the scoop on economic and investing news that is probably ignored (or reported late) by mainstream American news outlets. Thanks!
Wow, excellent broad coverage of the markets today.
Of course the State Banks will want control of the ledger for any digital coin. How could they not? They are their own god.
Giving the IMF control of a (the) single world currency would effectively remove all sovereignty of the member countries. They know this but again, now could they not? They are their own god.
Taxing unrealized Capital Gains will end that dirty capitalist profit problem once and for all. They are communists. Period.
Yep, watch copper. It’s been as reliable as the yield curve or Dow Theory if not a little more so.
The cycles of the car market can be invested. New cars down, used cars and parts stores up. Then the cycle inverts when the economy turns up. Don’t buy the wrong side of this trade. Once it’s in the general news that the new car market is down is not necessarily the time to jump on the other side of the trade. Accumulating shares of the part of the cycle that is at the bottom is the way to go, if a bit scary. But as JWR says; buy low, sell high. Right?
Will Basel III send gold and silver prices to the moon ? Not directly, or we would have seen it on April 1st. However, it will gradually tend to increase upward pressure on gold prices, along with other factors, as the coming recession gets nearer, and as it unfolds. I believe that 1) a recession is coming, or has already started 2) it will be a deep and very long recession, and 3) during this recession, the whole economic world will fall apart.
The price of gold, and even more so silver, is a HUGE bargain right now. I don’t own any gold, but I stack as many silver coins as I can afford EVERY MONTH. Do yourself a favor, and get some while it is dirt cheap.
I do not think it will be a recession either by natural market forces or engineered one that dooms DJT 2020 re-election bid but will be his incompetence and malfeasance on the border.
The President has the tools and power to stop it and he lets the invasion of tens of thousands per month to enter the US.
And he’s a gun controller, the NRA’s love affair with him not withstanding.
Skip- DJT will win 49 states. You heard it here first.
27 democrat candidates, each one crazier than the last, will insure it. Oh, yeah, campaigning on
70% income tax rates, the abolition of ICE, elimination of air travel- laying railroad tracks across the Atlantic and Pacific (!), allowing prison inmates to vote and lowering the voting age to 16, the elimination of all borders, reparations to blacks for slavery, and the rest of the democrat agenda- that will surely win the White House for the dems. LOL.
Nathan your prediction could come true with the clown car of DNC candidates and it’s insane agenda.
However what do you think an additional 2-3 million illegal voters will do to Texas or other Southern States in 2020?
President Trump ran in securing the border and killing Obamacare and not tax reform and he has to dated failed the two most pressing items that are damaging the US.
And as James Rawles has asked: Will President Trump cave on the 2nd Amendment In up coming Bills from the House?
Time will tell but time is not on the President’s side. And add a brutal recession and Trump is toast.
@ Skip- We shall see…