This Week In 3 Minutes: Denial Is Golden

Video length: 00:03:46

Summary:

  • There were bumpy markets again this week with the equity markets all over the place; we had about a 3% drop just the other day.
  • Gold is maintaining a floor around the 1200 range and can't seem to get below that or, if it dips its toe in, it springs back up. So I'm confident that 1200 is very solid floor or support line for gold.
  • We'll also touch on the de-dollarization trend:
  • Russia is giving tax breaks to those who use the ruble.
  • Japan and India have signed a $75 billion bilateral currency swap arrangement so these two companies can do business in their own currencies, effectively eliminating the need for the US dollar.
  • JP Morgan and the Bank of France have started doing business in bullion together. 
  • Venezuela is seeking to repatriate about $550 million in gold bars from the Bank of England which is going to be very troubling for other central banks.The Bank of England is refusing to return this gold, will this cause a scramble for the precious metal?
  • Allen Greenspan in the German press making a push for gold.
  • Lastly I discuss my recent, widely published article, Gold Re-Monetization Is Much Closer Than Many Realize.
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