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Alasdair Macleod: The journey to monetary gold and silver
By Alasdair Macleod
GoldMoney, St. Helier, Jersey, Channel Islands
Thursday, March 12, 2020
Markets are just beginning to latch on to the economic consequences of the coronavirus. Central banks are slashing interest rates and beginning to throw new money into the mix and governments are increasing deficit spending.
Few analysts have yet to understand the enormous consequences of the coronavirus for missed payments and accumulating current debt, which is rapidly draining liquidity from wholesale money markets. It is increasingly likely that the eurozone's banking system will require rescuing from insolvency with consequences for the global monetary system.
Concern over the consequences for the $640 trillion over-the-counter notional derivative market, particularly for $26 trillion of foreign exchange swaps, is so far absent.
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Continuing on our theme that the fates of the dollar and U.S. Treasury values are closely bound, the extraordinary overvaluation of the bond market will translate into a collapse for both.
This article charts how the collapse of the dollar and financial asset values is likely to progress and concludes that we are witnessing the end of the neo-Keynesian fiat currency fantasy, which will be done and dusted with surprising rapidity.
Only then will sound money, after varying time periods for different nations, return. ...
... For the remainder of the analysis:
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