Who Are You Going to Trust? PhD Economists or Gold.

In this report, I cover the early market action from London on Friday, August 23rd, 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 at the Federal Reserve's track record throughout the years and all the crises it helped foment and compare the performance of the currency it issues to the performance of the currency of kings or gold. I also ask the question of why we should trust a bunch of bureaucrats in a board room to decide what the price of money or interest rates should be set at.

Unfortunately, the general public everywhere around that world is now forced through legal tender laws to use Central Bank unbacked currency to transact in everyday commercial transactions. Gold and silver have been money and currency for thousands of years and did not need the government to decree that it was money.

My conclusion is that one would do better to hold gold or anything else that isn't decreed money like PhD notes or Federal Reserve Notes as history shows that unbacked fiat currency always reverts to its intrinsic value of zero.

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