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In order to beat back the boredom invoked by this so-called “market” of ours, I have YouTube on quite regularly, playing music of one kind or another. I have noticed that lately I have been inundated with ads from eToro, featuring a getting-really-old Alec Baldwin touting the benefits of depositing money into a cryptocurrency trading account.
I’ve pointed out before that the most positive thing for gold, in my opinion, would be for the USD/JPY to break down. It is still – – ever so slowly – – continuing to shape up that way.
After Chair Dickhead’s rah-rah speech yesterday, pledging that inflation would be allowed to run wild here in our once great republic, the US dollar rose smartly. Well, that didn’t last. This is what’s been happening to the US dollar versus the Japanese Yen overnight…………
My general “dollar down, precious up” continues to pan out nicely. Let’s take a fresh look at the USD/JPY to see how the dollar is, lower high by lower high, winning the Charmin Single-Ply Race compared to the Yen:
At the time of writing, the S&P 500 was flat, and jobless claims fell far below official expectations. Secondly, the Federal interest rate was turning negative. Also, the measurement of Money Velocity reported that people are saving money more than spending it. As a result, this can adversely impact the US dollar and the GDP, creating the problem of inflation.
On the other hand, the gold price continues to grow and reaches new highs seemingly every day. Why is this happening? Basically, the gold price rises for the same reasons it usually does. Geopolitical unrest and events, waning faith in fiat currency, and the coronavirus are all major factors.
Currently, the gold price already grew 30% this year, so now it is on track for a great year similar to 1979. But if you are an investor in the stock market, hearing that inflation fears are driving up the precious metals prices might not put you in the best of spirits. Many new investors are entering the precious metals scene as a result, but many also lack direction. Are you worried about inflation and want to buy gold, but the gold price is off-putting? One solution is the Utah Goldback.
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