Nothing to see here! Central Banks are buying a lot more gold. Under Bidenistas, nations worldwide are de-dollarizing or planning it. The US days of the dollar as the reserve currency are ending.
The problem is gold is no bargain either.
Additionally, the debt-to-income ratio on FHA loans is 44%. That’s not good.
Here’s a chart of Central Bank gold purchases back to 1950.
Even during the historically high inflation in the 1980s, Central Banks did not purchase gold.
There’s a clear shift in sentiment over the last 10 years.
Follow us @KobeissiLetter for more analysis as this develops. pic.twitter.com/xudIZ2i6DE
— The Kobeissi Letter (@KobeissiLetter) April 7, 2023
Texas is looking to go to the gold standard, but the economy is great. Just ask Joe Biden.
Is the Gold Standard Coming Back in Texas? Legislators Propose Gold-Backed Digital Currency
This may be legal. The US Constitution does provide that states can “coin” #gold. The courts would have to recognize a digital gold currency as a “stable coin” within that. pic.twitter.com/FQMrzb4acQ
— Wall Street Silver (@WallStreetSilv) April 7, 2023
Down payments on FHA loans are under 5% while monthly payments take nearly 50% of income.
These loans have massive balances outstanding while wage growth is not outpacing inflation.
Foreclosures are likely next.
Follow us @Kobeissiletter for more analysis as this develops.
— The Kobeissi Letter (@KobeissiLetter) April 7, 2023
We also don’t save any longer, we can’t afford to, and the money blown to help the economy was a disaster. By the way, does anyone know how much gold is in Fort Knox? It hasn’t been audtied in a very long time.
Here is a chart visualizing this data.
The massive spike in 2020 was due to $4 trillion in stimulus which was printed and handed out.
This money quickly disappeared as inflation soared.
Again, there’s no such thing as “free” money.
Follow us @KobeissiLetter for more analysis. pic.twitter.com/QD321J1oOp
— The Kobeissi Letter (@KobeissiLetter) April 5, 2023
We NEED to use money which governments and banks do not control, WHATEVER that is. Currently, those are gold, silver, and cryptocurrency. 1. Gold and silver payments over long distance are not practical. 2. Most cryptos, including Bitcoin, reveal your balances, purchases, and to whom you are donating, to whole world. So, Bitcoins, Ethereum, etc, are crap. They fulfill government… Read more »
Crypto will be gone if the Government shuts down the Internet. You can’t eat Gold and just as in the Depression the Government will confiscate Gold. Those who Farm and Ranch will have the most power in the coming Collapse. People will defend them against the Government because they don’t want to starve.
…and then they’ll artificially undervalue it. Just watch.
This why people are depleting their savings, Biden is turning cash into trash! In Big Blue Cities houses will be worthless when the War breaks out. Urban homes can’t be defended against the mobs who will pillage and plunder and Democrats have disarmed most Big Blue Cities. When the USD collapses, Red States will be forced Coin Money to stabilize… Read more »
Curious. Does TX have a mint? Just checking, because if they do, that might be my option.
Yes
Saving is just another tradition being rejected by so many who have never learned common sense.
Imagine raising the federal debt limit to $50t. Insanity!
When the Manure hits the fan you can’t eat Gold.
If people take your food you wont eat that either.
Constitutional carry came online last week, there’s been a “nervous” silence from south of Daytona…
Lead, worth more than gold if applied correctly.
In rural America we learned that Lead is King a long time ago. I just bought a few more thousand rounds. Monday we will be back out on the skeet range. A shotgun trumps an AR-15 in wooded areas or in urban warfare. A .338 lapua magnum trumps a AR-15 at 1000 yards. A Slug or a .338 lapua magnum… Read more »