You are here
Neil Newman: It's time to ditch the crashing U.S. dollar and buy groceries with gold. Here's how
By Neil Newman
South China Morning Post, Hong Kong
Monday, August 17, 2020
I was having a beer the other week with an esteemed former colleague and superb commodities commentator, Tom Holland, who was saying that he kept hearing from people thinking the U.S. dollar would "crash" and that he thought they might be right.
For the past four years at least, currency analysts and commentators were saying the U.S. dollar was too strong and would correct. The same would go for the Hong Kong dollar, with the Hong Kong Monetary Authority's peg in place. And indeed, if you compare it with the sterling or the euro, the US dollar is strong.
... Dispatch continues below ...
Buy metals at GoldMoney and enjoy international storage
GoldMoney was established in 2001 by James and Geoff Turk and is safeguarding more than $1.7 billion in metals and currencies. Buy gold, silver, platinum, and palladium from GoldMoney over the Internet and store them in vaults in Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom, taking advantage of GoldMoney's low storage rates, among the most competitive in the industry. GoldMoney also offers delivery of 100-gram and 1-kilogram gold bars and 1-kilogram silver bars. To learn more, please visit:
But as Tom pointed out, what would it crash against?
Sterling? Unlikely, with the British economy in its present state.
The euro? No, for the same reason.
The Japanese yen? Also unlikely, as it seems to reliably trade in a Y105-Y110 range against the dollar -- and even if the dollar crashed against the yen, would anyone but the Americans care? Probably not.
The more likely case would be for the dollar to generally decline against all the major currencies, and of course take the Hong Kong dollar with it. I suggested to Tom that a sharp dollar decline may already have occurred, but that it happened against gold. ...
... For the remainder of the report:
Toast to a free gold market
with great GATA-label wine
Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express.
Here's what the bottles look like:
Buyers can compose their case by choosing as many as four varietals from the list here:
GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals?
To order a case of GATA-label wine, please e-mail Fay J Winery at email@example.com.
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon --
-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at firstname.lastname@example.org.
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit: