Negative Dollar Rates Would Lead to a Run on the Fiat Currency System.

#steemleo

In this report, I cover the early market action from London on Tuesday, September 3rd, 2019. I look briefly at the precious metals, the stock market, the dollar, the bond market and the price of WTI and Brent crude oil.

Today I look into the topic of backwardation and contango in the commodity futures market and reference the work of Professor Antal Fekete. According to Professor Fekete, a permanent state of backwardation in the gold futures market would mean a run on the current fiat dollar system.

I will go over what backwardation means and why with the dollar being the world's reserve currency negative interest rates would mean a permanent state of backwardation not only gold and silver but also all other tangible commodities.

"MY CRUSADE TO FEND OFF PERMANENT GOLD BACKWARDATION" by Professor Antal Fekete: https://silkthreads.press/2019/01/02/the-dangers-of-permanent-gold-backwardation-professor-antal-e-fekete/

3-month SOFR Futures: https://www.cmegroup.com/trading/interest-rates/stir/three-month-sofr.html

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