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Money Is Gold, confidence in dollar is lost

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News Date: October 23, 2020

Confidence in the dollar is lost completely, central bankers need to restore confidence, and they turn to some type of gold standard to do so.
John Pierpont Morgan: Money is gold, and nothing else.
The peak gold production is already here. There are no new goldfields of any significance waiting to be discovered.
As confidence in the dollar erodes due to Fed money printing and congressional super-deficits, investors gradually look for alternative stores of wealth, including gold. The time to go for the gold is now.
Sources:www.zerohedge.com, www.silverdoctors.com, www.zerohedge.com

PayPal, Venmo to Roll Out Crypto Buying and Selling

Fintech giant PayPal plans to roll out direct sales of cryptocurrency to its 325 million users, according to three people familiar with the matter.
Currently, PayPal can be used as an alternative means for withdrawing funds from exchanges such as Coinbase, but this would be a first in terms of offering direct sales of crypto.
Source:coindesk.com

Gold is real money, store of value, alternative to cash

Schiff: Because I think they are also underestimating just how much inflation global central banks are going to create - in particular the Federal Reserve - and how much value the US dollar is going to lose against other fiat currencies, but in particular against real money, which is gold.
I don't even look at gold bullion as an investment. I look at it as a store of value - as an alternative to cash.
I think gold is going to make a much bigger rise against these fiat currencies. But as an investment, I think investors should be at gold mining stocks. Fed is not winning a long-term game. They continue to print money, devalue the currency, and continue to essentially run the American currency into the ground.
Peter responded saying that just because blockchain technology has value doesn't mean bitcoin itself does.
Sources:www.zerohedge.com

The FEDs independence Days Are Numbered

Sometime back in March, the Federal Reserve began quarantining cash bills arriving from Asia. The move was meant to protect Americans from the coronavirus, but it was not entirely necessary. Cash usage was already at an all-time low.
The Fed is going to buy stocks. I do not know precisely when , but it will happen, and probably soon. It does not want to buy stocks but knows it is too dangerous to rule out. Since financial markets are like teenagers - continually testing boundaries - expect the Fed to keep getting pressed on this issue.
Sources:www.forbes.com, www.barrons.com

Trump nominee Judy Shelton to pass Senate next week

Judy Shelton, President Trumps nominee to the Federal Reserve, will receive a vote on the Senate floor next week and is expected to pass.
Her support appears enough to get Shelton through the Senate, where Republicans control 53 seats. Every Democrat is expected to vote against her.
Her beliefs:
> eliminating the Feds independence and federal deposit insurance
> returning the U.S. to a gold standard
Sources: thehill.com

Best Stimulus Package

Trump Promises Best Stimulus Package You Have Ever Seen, After Election. Trumps announcement put his stamp of approval on a new timetable that came to the fore earlier in the day after Senators left Washington, D.C., for a pre-election break.
Sources: www.newsmax.com

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