In Aug 1971, President Nixon ended the dollar convertibility to gold announcing the collapse of the gold standard which was created after WW2. Two years later, petrodollar system came into existence in 1973 to maintain the global demand for U.S. dollars as all oil sales will be transacted in US dollar. The United States dollar […]
Adam Smith, the father of capitalist theory and modern economics, proposed in his book “The Wealth of Nations” in 1776 a different capitalism that could work for the common good if the market was left to regulate itself without government interference. Since its inception, capitalism has never worked as Smith envisioned. It has been just […]
Romans kept the amounts of gold and silver in the minted coins unchanged, they would not have been able to increase spending and wage more wars.
Close the planet for three months and you get a massive global economic downturn. You should not be a Nobel laureate in economics to understand this.
I do not think that I would add up much to the precious conversation about the importance of gold in good and bad times. However, I strongly believe that the power of questions raises awareness which is always needed. Why humans throughout history never swayed from gold? Why do all the central banks hoard and preserve gold? Why do all investors diversify […]
Naive are those who think that the world would experience something similar to the great depression in 1929. It is going to be worse. In 1929, the planet earth did not shut down like in 2020.
They always go in tandem. Democracy promoters always choose the world’s oil and gas rich countries to spread their democracy. This secret love between oil and democracy should not stay in disguise. Wherever they smell oil, democracy promoters run fast, and they get faster if they smell both oil and gas. Libya, Venezuela, Iraq and […]