Currency Wars – Let’s Welcome Japan; More Gold Standard Talk; Fake Gold Bar(s) in NYC
Let’s welcome Japan to the desperate Central Bank party.
Bloomberg: BOJ follows Fed to expand easing in effort to prevent rising yen from undermining recovery | http://bloom.bg/RqHWxk
Welcome to what shall become a nasty race to the bottom for fiat currencies on a global basis. Some call it currency wars. After action by the ECB and the Fed, surely the BOJ can’t sit and twiddle its collective thumbs and allow its currency to fall versus other currencies in the FOREX. The tit for tat in the end will lead to mutually assured destruction of paper money.
Thanks, BOJ, for yet another example of why metals are THE assets to turn to escape the skirmishes of the Central Banks.
While gold is off the highs of the day, stock futures have creeped a bit higher. Bottom line, QE is supportive for both the metals and the stock market.
Gold Standard Talk
Deutsche Bank: Here’s How A Gold Standard Could Actually Work In Today’s Economy http://read.bi/QmA1yY
Interesting. However, there still needs to be a massive political shift in thinking to return to better managing economies. Reliance on Central Bank monetary policy has clearly not worked, but is still being embraced. It enabled those in power to hold on to power and to not have to address the hard work of structural reforms. I see the status quo for now. Unfortunately, the gold standard will have to wait until it is forced upon the banking cabal. The banksters will eventually have no choice and until that day comes (assuming their power does not become absolute), they are not going to cede to a power sapping (their power) gold standard.
Here’s how mainstream local media likes to cover gold:
From MyFoxNY… Fake Gold Bars:
Fake gold bars turn up in Manhattan – New York News | NYC Breaking News http://www.myfoxny.com/story/19578206/fake-gold-bars-turn-up-in-manhattan#.UFm0s3I9pzw.twitter
Yesterday it was the guy out west who died with a $7 mln gold hoard hidden in his house that grabbed some of the spotlight. Aside from some serious reporting on the financial pages, the regular media still sees gold as an oddity.
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Author Jim Kingsland
Market commentator with focus on Gold and Silver after long broadcast career at FNN, Bloomberg, and Fox. #RandomHouse published author on PMs. Jim has also been involved in projects for CAC and Coinplex.
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