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| Australian, South African and British Sovereigns |
Tuesday, February 12, 2013
Once upon a time there was such a thing as Real Money
Yes Virginia, once upon a time there was such a thing as "real money". People would transact in gold in silver coins who's weight and fineness were strictly controlled. They would keep them in their pockets, waistcoats and purses. They exchanged them endlessly for non-GM organic foods and hand made goods and in turn received them in for their labour. Alas such times are only a distant memory for even the oldest amongst us, as such items of golden beauty were taken from general circulation in 1931 in exchange for filthy paper. As a result the world has been searching for a constant measure of value ever since.
Ron Paul - Are We in a Currency War?
Feb. 8 (Bloomberg) -- Former U.S. Representative from Texas Ron Paul weighs in on the currency war. He speaks on Bloomberg Television's "Lunch Money." (Source: Bloomberg)
Asteroid Wranglers: Chasing Billions in Deep Space
Feb. 11 (Bloomberg) -- Bloomberg's Matt Miller takes a look at the new space race, a sprint by a few young companies to mine asteroids for precious metals worth billions here on Earth.
G-7 Said to Discuss Statement to Calm Currency War Concern
Original Source
The Group of Seven nations are considering saying they won’t target exchange rates when setting policy as they try to calm concern the world is on the brink of a currency war, two officials from G-7 countries said.
Japanese Prime Minister Shinzo Abe’s push for more aggressive monetary policy has raised concern abroad that his government is directly seeking to weaken the yen, something it denies. In the talks, Japan has questioned the statement’s contents -- which would mark a strengthening in rhetoric from the G-7’s last joint comment in 2011 -- as it doesn’t want to be singled out for criticism, another official from a G-7 nation said, also on the basis they not be named.
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Of course gold knows a currency war when it sees one, even if politicians cannot, and revalues itself accordingly.
Putin Turns Black Gold into Bullion
Original source
When Vladimir Putin says the U.S. is endangering the global economy by abusing its dollar monopoly, he’s not just talking. He’s betting on it.
Not only has Putin made Russia the world’s largest oil producer, he’s also made it the biggest gold buyer. His central bank has added 570 metric tons of the metal in the past decade, a quarter more than runner-up China, according to IMF data compiled by Bloomberg. The added gold is also almost triple the weight of the Statue of Liberty.
“The more gold a country has, the more sovereignty it will have if there’s a cataclysm with the dollar, the euro, the pound or any other reserve currency,” Evgeny Fedorov, a lawmaker for Putin’s United Russia party in the lower house of parliament, said in a telephone interview in Moscow.
Gold, coveted by Russian rulers including Tsar Nicholas II and the Bolshevik leader whose forces assassinated him, Vladimir Lenin, has soared almost 400 percent in the period of Putin’s purchases. Central banks around the world have printed money to escape the global financial crisis, sapping investor appetite for dollars and euros and setting off a scramble for safety.
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Worlds Biggest Gold Buyers
From Bloomberg: The World Gold Council has released its latest list of the world's biggest gold holders. But who bought the most in the past decade? The answer may surprise you.
Lifting the Cloak on the Papal Portfolio
Feb. 11 (Bloomberg) -- Su Keenan reports on the Vatican's economy. She speaks on Bloomberg Television's "Money Moves." (Source: Bloomberg)
Americans ignoring financial ammunition
Whilst Americans crowd gun shows, clearing the tables of ammunition it seems very few are stocking up on financial ammunition for the currency war. Whilst both are important which are you more likely to have to deploy during a currency collapse? A silver eagle to buy food for your family or a rifle round?
From SGTbull07
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