Bill Holter Blog | In The News Today | Talkmarkets
Financial Commentator and Former Stockbroker
Contributor's Links: Jim Sinclair's MineSet

Bill Holter writes and is partnered with Jim Sinclair at the newly formed Holter/Sinclair collaboration. Prior, he wrote for Miles Franklin from 2012-15. Bill worked as a retail stockbroker for 23 years, including 12 as a branch manager at A.G. Edwards. He left Wall Street in late 2006 to avoid ... more

In The News Today

Date: Sunday, August 12, 2018 10:32 PM EDT

Bill Holter’s Commentary

Dave spoke of this yesterday on our weekly call for subscribers.

Following The Golden Rule: Iran & Venezuela Prime Examples Of Intrinsic Value Of Money Vs. Gold
August 11, 2018

Once again, gold has proved itself to be the most reliable safe haven as more and more citizens in countries hit by US sanctions are hoarding the metal in an effort to protect their savings from collapsing national currencies.

Rising demand for gold in Iran and Venezuela has sent prices for the precious metal to unprecedented levels while local currencies depreciate daily.

As of the end of July, gold prices in the struggling Latin American state saw a 3.1-million-percent increase against the beginning of the year, with an ounce of the yellow metal surging to 211 million bolivars ($1019,45). Venezuela is currently fighting the worst economic crisis ever, with the International Monetary Fund (IMF) expecting inflation to reach a colossal one-million percent by the end of 2018. The skyrocketing inflation that is unavoidably dragging down the Venezuelan bolivar is forcing people to buy up gold to keep their savings from disappearing.

Venezuela is currently the subject of various penalties imposed by the White House over alleged violations of human rights and of undermining democracy. Americans are banned from investing in newly issued Venezuelan bonds and the country’s state-run corporations. Caracas sees this “economic war” as one of the key reasons for longstanding crisis in the country.

At the same time, the latest decision by the US to partially re-impose sanctions on Iran has boosted demand for gold in that country, as its citizens are looking to protect their wealth against the devaluation of the national currency.

More…

Bill Holter’s Commentary

It only took a moment for this article to click in mentally. I guess they will probably also study global warming on this mission…and make a stopover on the moon?

1 2
View single page >> |
Disclaimer: This and other personal blog posts are not reviewed, monitored or endorsed by TalkMarkets. The content is solely the view of the author and TalkMarkets is not responsible for the content of this post in any way. Our curated content which is handpicked by our editorial team may be viewed here.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.