Russian billionaire Dmitry Rybolovlev paid €54 million or $85 million for a landscape by Paul Gauguin in a private transaction in June 2008. Yesterday, he incurred a whopping 74% loss on his store of value "investment."
Russian Billionaire Takes 74% Loss On “Investment.” $85 Million Gauguin Bought By Dmitry Rybolovlev in 2008. China soon to dominates global art and gold market. Art price volumes doubled since 2009. Gold half it’s real price in 1980
Gold does not necessarily rise and fall with interest rates, jewelry demand in India, or any other widely believed nonsense. Rather, gold has moved in conjunction with perceptions as to whether or not the Fed and central banks have everything under control.
"Today we are starting a new chapter of radical socioeconomic transformation," South Africa president Jacob Zuma said last week, as he pledged to break up white ownership of business and land to reduce inequality.
Economic tensions are tipping over into military ones. Warships have sailed, aircraft have had close encounters, and the rhetoric of Trump’s officials has shifted dramatically from the previous era. The larger threat to the petrodollar and the continuance of U.S. hegemony has been put face-to-face with a China gaining in power and confidence, and ready to depose American dominance.
They’ve threatened to throw anyone in jail who’s caught trading bond notes at anything other than the official 1:1 exchange rate. Naturally these threats have only spurred the creation of a black market where Zimbabwe’s bond notes are bought and sold at their real values. Right now the bond notes are trading at 5% to 10% below the US dollar. But this is just the beginning.
Recep Tayyip Erdogan’s carefully planned move to become legal dictator of Turkey is in its final stages. In the wake of a foiled coup, Erdogan removed or imprisoned every judge not on his side, shut down all opposition newspapers, and jailed all of his political opponents. After his hand-picked court approved the changes Erdogan wanted, all that remains is a Public Referendum which Erdogan will win simply because he gets to count the votes...