While the government response to the coronavirus may serve as a catalyst for the next crisis, it is the irresponsible actions of central bankers, governments, and globalist institutions that will make the pain so much more intense...
...you are not holding gold to measure the gains in debased paper money. Instead you are holding physical gold as insurance against a broken financial system that is unlikely to be repaired for a very long time...
...an unimaginable sum. Central banks are on course to destroy their currencies through unlimited monetary expansion, lethal for bullion banks with fractionally reserved unallocated gold accounts...
Ash Bennington hosts Ed Harrison, Real Vision’s Managing Editor, to break down the week’s events. The pair cover the U.S. banking sector, risks to the commercial real estate market, Russian central bank policy action, and compare and contrast the timing and trajectory of the COVID Crisis to the GFC. Bennington and Harrison end on a discussion of the changing role of China in the global political and financial system in the wake of the current crisis. In the opening section, Jack Farley looks at finance stories that you might have missed, scrutinizing the extreme price action in a small cap stock, and exploring the significance of gold's recent trend towards backwardation.
"...the banks are even more exposed today than they were in 2008. This is an even bigger crisis now than it was in 2008 because we have a lot more debt... this is a financial crisis just like the last one, except it’s bigger..."
The tapering continues, and after purchasing as much as $650BN in assets per week three weeks ago, the Fed's QE has shrunk to "just" $125BN weekly starting next week.
