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Ominous signs - Rogoff and The Economist recommending gold

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#1
I think this is an ominous sign. In the fallout of the 2007/2008 crisis, there was all kinds of talk amongst the Davos/G20 crowd about different ideas/plans for a NWO monetary system. That talk seems to have faded away as ZIRP (and, in some places, NIRP) seemed to stabilize the system.

Today, we have credit bubbles/stresses growing everywhere - zombie firms/junk bonds, consumer credit debt, headwinds for future treasury issuances, etc. The main global financial institutions (BIS, IMF, Fed, etc.) have all published warnings about the lack of powder to manage the next financial crisis. Still, we don't see chatter about any NWO monetary systems. Has the issue been decided? Or is the world too polarized now with all the nationalist political movements?

In any event, I woke today to find two items published by pillars of the financial establishment promoting gold to weather the next crisis. First, Rogoff wrote a piece for the World Gold Council. And the following was published in The Economist:
...
Now imagine the world economy goes into a tailspin. There is panic selling of risky assets. Where should you seek safety? Cash is the most liquid asset; but which kind? The dollar is a natural focal point. Yet America’s fiscal indiscipline and its sizeable current-account deficit might give pause. Other currencies have their faults, too. There is one other destination you might consider, if only because others are starting to think the same way. And that is gold.
...
https://www.economist.com/finance-a...rikes-where-should-you-hide-the-case-for-gold

Maybe I missed something, but it really seems like they are getting the word out - the next crisis will be unmanaged, protect yourself with gold. It's going to be a bumpy ride.
 

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#2
from the article:
Net purchases of gold by central banks rose by 74% last year to the highest since 1971, the year the dollar’s peg to the gold price broke.
 

Ebie

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#3
Did they distinguish between physical and paper? I doubt it.
 

nickndfl

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#4
Pre-65' US silver coins are good for buying essentials.

My crystal ball is a bit cloudy. Back in the 1970s we watched the price of gasoline and cars inflate rapidly. Now gas is down and car prices are stable and a bit lower when you consider mileage efficiency, safety and technology. Could the price of meat and dairy be what goes up first?
 

Joe King

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#5
Pre-65' US silver coins are good for buying essentials.
Only if the one(s) you are buying from actually understand the difference.
....and you'd best hope they do, because if they don't they'll never believe you that they're worth more. If you're standing there trying to convince them that your quarter dollars are really worth $xx dollars, good luck. They'll think you're tryin' to scam 'em.
 

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#6
convince them that your quarter dollars are really worth
And that's the reason you hold onto that jar of clad quarters. They will spend just fine for a little while, probably a lot longer that the paper will hold up.
 

Thecrensh

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#7
And that's the reason you hold onto that jar of clad quarters. They will spend just fine for a little while, probably a lot longer that the paper will hold up.
I think many of us assume that people actually know the value of silver/gold...and "clad" or pre-64 coins. The younger people today have very little exposure to cash...everything is debit, credit, paypal, digital, etc. If TSHTF, they may migrate to cash, but won't know the value of coin...and when they do learn, TPTB will begin moving to confiscate and go straight digital.
 
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#8
... In the fallout of the 2007/2008 crisis, there was all kinds of talk amongst the Davos/G20 crowd about different ideas/plans for a NWO monetary system. That talk seems to have faded away ...
I should probably have just included the following in this thread instead of starting a new one, but whatever:
Harvard’s recent two-day conference, “Money as a Democratic Medium,” challenged its participants to re-examine the history of money in America, and to redefine its future ...
https://www.goldismoney2.com/thread...folks-to-redefine-the-future-of-money.242221/