China or US?

By Alasdair Macleod – Re-Blogged From Gold Money

China has made some silly errors in its conflict with the US, reflecting the arrogance that often afflicts every state actor. But the appearance that China is being backed into a corner over Huawei, trade tariffs and Hong Kong is misleading. China is progressing her own plans, and they do not require an accommodation with America. With Russia in tow, she is now the chief foreign influencer for up to three-quarters of the world’s population, so it is American hegemony that’s being backed into a corner.  One day, this will be reflected in a currency shoot-out. This article concludes that the dollar is more at risk than the yuan, the opposite of perceptions in western capital markets.

Introduction

In the undeclared war between the US and China, the focus has been on the obvious battles. Huawei has been badly wounded but looks like surviving. The trade tariff battle continues and the battle in Hong Kong is ongoing and yet to be resolved.

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Buy Greenland?

By Dan E. Way – Re-Blogged From Liberty Headline

‘The negotiated acquisition of sovereignty is a longstanding and perfectly legitimate tool of statecraft…’

Former Alaska governor Sarah Palin, who knows a little something about the geographic and historical illiteracy of Americans, supports President Donald Trump’s interest in buying Greenland.

“The media would do well to learn some U.S. history. Our country’s desire to purchase Greenland predates the purchase of Alaska,” Palin wrote in a column for Breitbart News.

Palin reminded that in 1867 Secretary of State William Seward, first appointed by President Abraham Lincoln, attempted to buy Greenland.

Then, as now, Denmark refused to sell.

Appeals Court Revives Sarah Palin Defamation Suit Against NYTimes

Sarah Palin/Photo by Gage Skidmore (CC)

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German Gold In World War-II

By Larry LaBorde – Re-Blogged From Gold Eagle

During WWII the Germans were in need of money to buy foreign materials to conduct the war. It is estimated they stole almost 500 metric tons (around 16 million troy oz equal to $23 billion USD @ $1,450 / oz) from various governments. Most was taken from Belgium, the Netherlands, Austria and Czechoslovakia. The French gold (about 2,500 metric tons or 80 million troy oz) was saved from the Germans in a rather interesting story that I will save for later.

It is very roughly estimated that around 100 tons were passed through Switzerland and then sent to neutral countries to purchase goods. There are stories of the Vatican bank helping Germany to launder and store gold as well as the German gold train buried in a tunnel in Poland and secret gold transfers to Argentina. Those stories are undocumented and have been the subjects of speculation for decades.

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US, EU And China To Revalue Gold In New ‘De Facto’ Gold Standard

By Mark O’Byrne – Re-Blogged From Gold Eagle

US, EU and China could pursue joint revaluation of precious metal

Last year 22 central banks, situated largely to the east of Germany, bought the largest amount of gold since 1967, the year the London Gold Pool collapsed. The gold repatriations by many European countries of the last few years are another sign that we are reaching the end of four decades of monetary calm.

The OMFIF is an independent think tank for central banking, economic policy and public investment

This could bring about the largest monetary changes since the closing of the gold window by U.S. President Richard Nixon in 1971.

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Europe Circumvents U.S. Sanctions On Iran

By Frances Coppota – Re-Blogged From Forbes

Europe has found a way of circumventing U.S. sanctions on Iran. The governments of France, Germany and the United Kingdom have developed a special purpose vehicle (SPV) to enable European businesses to maintain non-dollar trade with Iran without breaking U.S. sanctions. That SPV, known as INSTEX, is now up and running.

The three governments announced the successful implementation of INSTEX at a meeting of the Joint Commission of the Joint Comprehensive Plan of Action (JCPOA) on June 28, 2019. The meeting was chaired on behalf of the EU by the Secretary General of the European External Action Service (EEAS), Helga Schmid, and was attended by representatives of China, France, Germany, Russia, the United Kingdom, and Iran.

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Russia Will Be Ruined by the Clean Energy Transition

By Eric Worrall – Re-Blogged From WUWT

According to Forbes, when renewable energy programmes like Germany’s Energiewende mature, demand for Russian fossil fuel will collapse.

Will Russia Survive The Coming Energy Transition?

Jun 27, 2019, 10:35am
Ariel Cohen Contributor

A new global energy reality is emerging. The era of the hydrocarbon – which propelled mankind through the second stage of the industrial revolution, beyond coal and into outer space – is drawing to a close. The stone age ended not because we ran out of stones. The same with oil and gas.

World Energy Consumption
World Energy Consumption. By Con-structBP Statistical Review of World Energy 2017, CC BY-SA 3.0, Link

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For Those Who Don’t Understand Inflation

By Alasdair Macleod– Re-Blogged From GoldMoney

This article is a wake-up call for those who do not understand the true purpose of monetary inflation, and do not realise they are the suckers being robbed by monetary policy. With the world facing a deepening recession, monetary inflation will accelerate again. It is time for everyone to recognise the consequences.

Introduction

All this year I have been warning in a series of Goldmoney Insight articles that the turn of the credit cycle and the rise of American protectionism was the same combination that led to the Wall Street crash in 1929-32 and the depression that both accompanied and followed it. Those who follow statistics are now seeing the depressing evidence that history is rhyming, though they have yet to connect the dots. Understandably, their own experience is more relevant to them than the empirical evidence in history books.

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