Growth Rate of US Dollar Gone Vertical
Macroeconomic analyst Rob Kirby has one burning question for the U.S. Treasury selling record amounts of debt to finance the federal government. Kirby asks, “The question is . . . and more and more people are asking, with the traditional financiers absent from the game, so they are not buying the new debt . . . The question is who is buying it? The only credible answer is the debt is being monetized. This $21 trillion . . . in “missing money” . . . is being mobilized to monetize the debt. It’s memory holed, but this is not a game that can go on forever. This is not a sustainable practice.”
This may be a good reason why the Bank of England is not giving Venezuela’s gold back after it asked for it. It is also holding on tightly to Australia’s gold. Is the Bank of England afraid the global debt balloon is going to pop soon? Kirby contends, “This balloon will pop, and at some point in time, the price of gold is going to go bananas up.”…
Question for any MU readers out there: presumably the pension fund manager has some percentage of the fund in precious metals. But is it in “allocated” metal, with individually serialized bars inventoried and allocated to the fund, or is it in paper “metal”? You’d better find out and soon. This is a pyramid scheme and its implosion is approaching fast. If enough faculty and staff call his office and request a meeting, his eyes might be opened.
They don’t advertise it (they basically hide it), but most investment companies do have allocated gold and silver accounts. It’s my understanding that some universities like UT have already made this switch.