Here are the latest 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 JWR. (SurvivalBlog’s Founder and Senior Editor.) Today’s focus is on National Digital Currencies.
Precious Metals (National Digital Currencies):
To start, there is this at Barron’s: Is gold on the verge of breaking out?
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Anyone serious about precious metals investing should consider the impact of the upcoming advent of national digital currencies. Some reports suggest that it will either be Israel or Norway to be the first to announce going cashless. The new digital currencies will probably use blockchain variants. I predict that once the first national announcement is made with a firm transition date, then it will immediately cause gold, silver, and to a lesser extent platinum to jump in price. The cryptocurrencies will also greatly benefit.
It all comes down to the huge amount of cash presently circulating in the gray and black markets. The national digital currencies will create 100% transparency for taxing and law enforcement agencies to exploit. Those desiring to remain private/opaque in their transactions will surely seek alternatives. And it won’t just be criminals who’ll want privacy. Even Regular Joes will desire privacy. Once the first nation braves an announcement, then country after country will announce going digital. As each domino falls, there will be another wave of buying in precious metals, cryptos, and various tangible investments. (The more liquid and fungible, the better.) Be ready, folks. If you wait until after the national digital currencies replacing printed cash are announced, then you will be buying your metals at a premium. Panic now, and beat the rush.
Forex:
Forex Trends: Will USD Fall to New Lows in 2018?
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The last time I checked the US Dollar Index (USDI), it was at 88.585. So it appears that I was corerct in my prediction of a Trump Weak Dollar policy. I expect it to continue. Plan (and hedge!), accordingly.
Commodities:
Reuters had this exclusive: U.S. small refiners make surge of biofuel waiver requests – sources