On a day when the Dow tumbled over 600 points and the NASDAQ plunged 5%, it appears things are tough all over, plus a fascinating email about BIS intervention in the gold market.
BIS Intervening In The Gold Market
September 8 (King World News) – Fascinating email from KWN reader Bill G: The latest BIS financial statement, comparing August, 2020 to March 2020, shows an approximate 23% increase in its gold and gold loans account item (from $31 billion to $44 billion). That equates to the rise in its balance sheet over the 5 month period, and the cost to the BIS of gold price suppression. A similar check on IMF and the major central reserve banks’ charge for this account item will probably reveal similar gold price suppression indicators by, what I term, the central bank cartel. It confirms further debasement of fiat currencies and points to the cartel’s reluctance for a reset of the physical gold price. Behind the cartel’s dilemma is their worst fear that, at any moment, the full faith and credit in paper money will evaporate and the present financial crisis will topple their system. All it takes is increased private investor realization of the true state of things. That is now happening…
Billionaire Eric Sprott Buying
To find out which company billionaire Eric Sprott just bought a 12% stake in click here.
Tough Times
Ian Bremmer: % of 18-to-29-year-olds in US living with a parent
1920 42%
1930 43%
1940 48%
1950 35%
1960 29%
1970 31%
1980 32%
1990 36%
2000 38%
2010 44%
2020 52% (this is too many)
Some Things Never Change
***ALSO JUST RELEASED: Some Things Never Change CLICK HERE.
***To listen to the powerful audio interview with former US Treasury Secretary Dr. Paul Craig Roberts where he discusses the coming crisis, gold, silver, the everything bubble and how it will end and more click here or on the image below.
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