Founder @Goldmoney | @Mene | Natural Philosophy
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Roy Sebag retweeted
This 2,000-Year-Old Sapphire Ring Has an Incredibly Detailed Portrait Carved Into It.
mymodernmet.com/caligula-sap…
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Roy Sebag retweeted
The German Const Court rules today that the ECB's QE programme has not been legally justified, and compels the ECB to consider, inter alia, the "risk of losses for private savings" and "consequences for (private) pension schemes and the returns they generate". 1/10
Euro drops as #Germany's Constitutional Court ECB PSPP ruling is likely to give President Lagarde a headache. ECB needs to show measures taken for PSPP were proportionate. Judges give ECB 3 mths to demonstrate PSPP is not disproportionate or Bundesbank will no longer participate
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Roy Sebag retweeted
> @nic_carter on #bitcoin
> @StephenPiment on fiat
> @roysebag on #gold
> @Will_Duffield on @urbit
the future of finance is just beginning
americanmind.org/features/on…
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The price of oil reminds us of natural limits which cannot be conquered or vanquished by man. No demand, no physical place to store, price must decline. Cost of storage is an attribute of monetary fitness. Oil fails this basic test and that’s why it can’t be a store of value.
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Features of our modern world with troubling signs of virulence for which there is no desire to "flatten the curve":
1) Fiat monetary debasement
2) Social Media usage
3) Wealth Gap
Can you think of more examples that poison society just as a virus does?
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Four weeks ago the US National debt was $23.5 Trillion. As of yesterday it is $24.4 Trillion. So $900B of new debt issued directly to the Fed "for the people". The other $1.1 Trillion went to bail out billionaires. Alas, the entire $2 Trillion = inflation. All in just 4 weeks!!!
Fed balance sheet moved up to $6.368 trillion, a new high. In the last 4 weeks it has increased over $2 trillion.
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6 Books 6 People - Finance/Gold version by popular request:
Raven of Zurich
Money and Magic
Margin of Safety
Reminiscences of a Stock Operator
Confusion de Confusiones
A World in Debt
@ButlerGoldRevo @MacleodFinance @RonStoeferle @LibertyBlitz @ttmygh @S_Mikhailovich you're it!
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We built a jewelry brand that does a better job at wealth management than profesional asset managers.
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It’s not possible to understand the gold price action right now by studying charts. The charts are disguising what’s going on. Here’s an alternative framework: there’s a Pac-Man like short that needs to accumulate as much physical metal as possible before the end of May.
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Don't trust billionaires who humble you with their piety by lamenting the airline/PE bailouts. Remember, their own companies/wealth are borne of the same injustice. There's no distinction between TSLA,BA,SPCE,FB. All feed parasitically off fiat debasement in an illusory economy.
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While this scheme isn't perfect as the bonds are not backed by physical metal, we see here further evidence that gold is being remonetized into the global financial system. Good first step for India.
The Government of India, in consultation with the Reserve Bank of India, has decided to issue Sovereign Gold Bonds. The Sovereign Gold Bonds will be issued in six tranches from April 2020 to September 2020 as per the calendar specified below: Ministry of Finance
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1) Buy Comex April Sell Comex June (Gold Future).
2) Demand delivery on April until you obtain a warrant.
3) allocate warrant to short thereby collapsing it.
4) earn a risk-free 2-3% in <30 days. Min. size is 1 contract (100 oz).
That's how broken Comex is right now.
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The entire fiat money theory rests on the perversion of Say's Law. Keynes > Powell believe that demand creates supply. If that were true why do we see the flaring of natural gas and the dumping of milk while CB's go Brrrr like mad to stimulate demand? Because Keynes was wrong.
We are dumping milk in South Florida because there is no home for it. We still have to feed and care for our cows, and our farmers are still milking cows, in hopes that we can sell that milk in the future... #stillfarming
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Incredible how people who do not understand basic thermodynamics can be awarded a nobel prize in *economics*. Note how the abstraction of the term "capital" leads Krugman towards misunderstanding the primacy of energy generation and flow upon which all activities depend.
If you look at it more closely, it's even worse than it appears on casual observation. Why? Because oil&gas extraction is extremely capital-intensive, so almost none of the benefits flow to workers. 2/
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In all of this, something feels very wrong. The whole world locked down, unprecedented escalation in government control, and a complete destruction of the social contract (money). Where are our strong leaders?
The Fed’s balance sheet has ballooned by $1.771T in the past 4 weeks, driven primarily by $1.111T in purchases of U.S. Treasury securities. Its total size of $6.083T is now +$1.567T since the 2015 apex, and +$2.323T since the trough in August.
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Kissinger couldn’t be more wrong about geopolitics post Covid. The new normal will be countries and individuals looking out for themselves. A fertile environment for revolutions and war.
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Spot gold/USD is going to close at the highest price in 8 years. Real gold is trading at or near an all-time high in USD. And yes, I know that gold/USD touched $1,900 for a few days in 2011 but the majority of the VWAP in 11-12 was lower than real price of physical gold today.
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Helicopter Money is officially here. The UK will be funding emergency coronavirus programs with new pounds printed by the BoE. Sir Isaac Newton is turning in his grave.
reuters.com/article/us-healt…
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