Gold- It’s More Than An Impressive Bull Market!
Gold and the Dollar are Facing Off
As far as bull markets go, this gold market is impressive! But it is much more that just another bull market.
This is a global monetary reset!
This is more like a showdown. The endgame for a monetary system that is no longer sustainable. As we have noted, when fiat (unbacked, irredeemable, made-up) paper or digital money goes toe-to-toe with gold, gold always wins.
That is gold’s strength. It is on display now as the global monetary system re-sets. Gold and the US dollar are facing off. The dollar has had its worst first half of the year since 1973. The world is turning away from the dollar. It is turning to gold.
That is why gold is making one new high after another.
A couple of details: In the month of June, 27 percent of federal revenue went to pay interest on the national debt. Stated differently, the US is borrowing $6 billion additional dollars a day just to keep the wolf away from the door. Beef prices are up nine percent since January. Inflation has been above the Fed’s (arbitrary) two percent target for four years.
Things are growing grim. Oh well, historically reserve currencies have an average lifespan of around 94 years. France has a run of 95 years followed by the British empire. The British pound sterling lasted in the starring role for 104 years, finally undone by war and socialism.
The US dollar took the inside lane in 1920; its preeminence became official with the Bretton Woods agreement which was launched in 1944. But Washington couldn’t resist money printing, war, and socialism. So the world is starting to beat feet away from the dollar as a dependable store of wealth.
In other words, we are in a global monetary reset. That is why gold is in a bull market, but not ordinary bull market. The accounting for gold’s success will be complete when people stop talking about how many dollars’ worth of gold they have. They will just cut to the chase, measuring their wealth in ounces of gold. Who needs a middleman?
Like those who decided a century or so ago to move out of the British pound and into what was then the “good as gold” US dollar, we hope you will position yourself wisely for the end-of empire global monetary reset that is underway now.
At Republic Monetary Exchange, we can be of help.
It’s what we do.