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Alasdair Macleod: Value destruction as the financial bubble collapses
By Alasdair Macleod
Thursday, April 21, 2022
In recent articles I have argued that the era of a financialised fiat dollar standard is ending. This article takes my hypothesis further and explains that it is not just the emergence of new commodity backed currencies in Asia that will threaten the dominance of Western currencies, but the Federal Reserve's failing monetary policies and those of the other major central banks.
An unstoppable rise in interest rates will in large part be responsible for their demise.
... Dispatch continues below ...
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Reyna Gold Drives 7.85 Meters of 3.95 grams per tonne
and 30.6 meters of 0.51 g/t gold, both from surface
Wednesday, April 20, 2022
Reyna Gold Corp. (TSXV: REYG. OTCQB: REYGF) announces initial results from the first eight holes totaling 710 meters of its ongoing 10,000-meter drill program at its 24,215-hectares flagship La Gloria Property in Sonora, Mexico.
Reyna has achieved the two primary objectives from these holes -- extending the breccia zone at Big Pit and establishing quartz veining of grade and size at Pique Viejo. All eight holes hit gold mineralized structures in initial exploration drilling across the 160 hectares Main Zone target area. ...
"These are great initial results. We are really pleased to have hit a substantial vein at Pique Viejo with the first two drill holes there and to have hit high-grade gold from surface at Big Pit,” Reyna Gold CEO Michael Wood CEO said. "The Las Amarillas vein is a just one of many new targets the geological team has identified on our 24,215 hectares property. ..."
... For the remainder of the announcement:
Financial markets in thrall to the state underestimate the forces collapsing the financial bubble. Even the existence of the bubble is disputed by those within its envelope. But financial assets represent most of the collateral securing the banking system, and their collapse triggered by higher interest rates will take out businesses, banks, and even central banks and make financing of soaring government deficits impossible without accelerated currency debasement.
Will central banks try to preserve financial asset values to stop the West's financial system from imploding? Keynesian theory demands increased deficit spending to counteract the contraction of bank credit.
As long as this is the case, the planners will destroy their currencies -- confirmed by the John Law episode in 1715-1720 France.
It is from this fate that China, Russia, and the architects planning a new central Asian trade currency are planning their escape. ...
... For the remainder of the analysis:
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