Albert Edwards says policymakers are f**kikng it up, plus a look at gold, silver and the US dollar.
F**cking It Up
December 29 (King World News) – Albert Edwards, Former Global Strategist at Société Générale: I think I prefer to remain what Summers terms “an Outsider”, especially when it’s people like him who are on the inside. They can sit in a room together and marvel at their own genius, shaping policy but f**king it up time and time again with zero consequences for themselves.
Gold
Ole Hansen, Head of Commodity Strategy at SaxoBank: Gold looks a bit tired as it continues to challenge the support line from the early December low, currently at $1873/oz. Upside limited to the band of resistance above $1900/oz
Gold Looking Tired?
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US Dollar Bets
Eric Pomboy: US Dollar bets… Leveraged Funds: biggest net short since April 2018 Asset Managers: record net short (see chart below).
CAUTION: Asset Managers Record Short US Dollar
1964 Wages In Silver
Highheat: Minimum wage in 1964 of $1.25 was convertible into 90% Silver at bank. The equivalent to 1 Silver Dollar & 1 Washington Quarter is over $35 today. So when people say they can’t live on $7.25, they mean it. We need a new monetary system that is fair to the poor.
1970 Wages In Gold
Sound Money: A little inflation math using gold and minimum wage since Nixon closed the gold window. Solid metrics of the Federal Minimum Wage and Gold. If Gold has held its purchasing power, the USD minimum wage would need to be $72.60 to have the same purchasing power as it did in 1970.
Hours Of Work To Earn One Ounce Of Gold
1970: 25.93 Hours
2020: 259.67 Hours
Also Just Released: Look At What Is Hitting Record Highs CLICK HERE.
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