A World of Balanced Trade Would Mean the End of the Fiat Dollar.
In this report I cover the early market action from London on Monday, June 18th, 2018. I look briefly at the precious metals, the stock market and the dollar.
I also talk about Triffin's Paradox and how it relates to the dollar as a reserve currency. Triffin was an American Belgian economist from the 1960s who said that under a reserve currency system based on fiat money there would be huge trade imbalances and that countries would need to try and undersell U.S. products in order to build reserves of fiat dollars ot the reserve currency. This, of course, has taken place as we have seen the U.S. run huge trade deficits as other countries have built up huge dollar reserves.
In a recent article published in several outlets Hugo Salinas Price argues that President Trump's trade wars and his intention of eliminating trade deficites could very well take the world to the sanity of a gold standard which would result in balanced trade between nations as gold extinguishes debt and is not irredeemable fiat money that can be printed out of thin air.
Salinas Price concludes that Trump's "madness" could actually be the road back to a gold standard.
Salinas Price article: Salinas Price Aricle: https://www.zerohedge.com/news/2018-06-17/donald-trumps-madness-new-gold-standard
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Thank you for pointing that out about the gold markets. I remember moves in these markets related to when Eastern markets are closed. Definitely something to keep an eye on - for those looking to pick up metal for a bit of a bargain.
How long can this go on?
I would say not much longer.
I only began paying attention to silver in earnest March 2017. I know people like yourself have been watching much longer so I hope you're right.
Do you know the @rtd youtube channel? I think you both would benefit from a public dialogue if you haven't already. You are both great silver and sound money champions for the people.
I always appreciate the daily morning tidbits. Thanks.
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There is something interesting from your writing and review this time that Trifin paradox, I am trying to find the term, and I find that Triffin's Dilemma or Triffin's paradox is an emerging economic conflict between short-term and target domestic targetslong-term international market for countries whose currency acts as a global reserve currency. .This dilemma was first identified in the 1960s by Belgian-US economist Robert Triffin. He pointed out that countries whose currencies other countries want to hold must be willing to supply their currency to meet foreign reserves demand in other countries. this excess supply triggered a trade deficit
This is awesome video at the precious metals, the stock market and the dollar...I like it,,You are a good mentor..Thanks for sharing @maneco64
Nice sharing on Market trending policy on London!!!
Definitely a nice possibility to think about, the gold standard might just be the whole reason trump was elected. King of bankruptcy
Sir your content is really good.Thanks for sharing gold market value
Like it! I looked into writing promissory notes for real but it looked overly complicated. But technically they should still work. I do feel a collapse is coming all the signs are there, the bear market, big companies going under, prices rocketing. Either they are just doing a sterling job of covering it up or a re waiting to announce the recession for some reason. Just wish I had more capital to buy some more silver an gold but alas I don't. 💯🐒