MARTIN POSTED THIS ON. AUG 30. 2019
QUESTION: Marty,
living in Europe where the talk about the elimination of cash is loud I am asking myself what is planned for foreign currencies, e.g. USD, one holds in cash at home? They can´t forbid it because foreign exchange is needed for traveling.
Even when they forbid it, there must be the possibility to change them to the new “national cryptocurrency” at the official exchange rate. So one is still better off here in the EU with USD in cash rather than Euro in cash?
Please share your opinion on this topic as it is important for so many of us here in the EU in the danger of being robbed by Brussel. YOUR BLOG is the ONLY light out there! Thank you for sharing your knowledge with those who are interested. You probably save a lot of lives enabling normal people to prepare.
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ANSWER: Yes, you are correct. The USD is being hoarded everywhere. The reason for this is that the US has NEVER canceled its currency, so a $5 bill from 1861 is still valid although it is worth more than 10 times its face value to a collector. Europeans should hoard US dollars. The worst they can do is make it illegal to hold gold or US dollars. I would recommend common circulated US $20 gold coins. You can get away with calling them collector coins in Europe.

That “business” was part of the headline from zerohedge – not my words.

I’m not sure about the employment numbers, I just have a tough time trusting any gov’t. numbers. We’ve watched for years every number bad or good has mostly been negative for gold. Not so much in the last few months though. Nice change.

Yeah, futures will be in play tonight. I expect the SM will get hit and gold will be up nicely. Unfortunately, they’ll probably find a way to get that all fixed by Tuesday’s open. At least that’s been the way it’s worked in the past.

Posted Aug 7, 2019 by Martin Armstrong

QUESTION: Marty, Socrates has done an amazing job forecasting gold all by itself. What I find stunning is gold is rising but so is the dollar. This once again points out that all this gold analysis that it will soar because the dollar is fiat and will go to zero seems really absurd. You have warned that during the early stages gold will rise with the dollar. That is unfolding yet it is going unnoticed. You said you will release a gold report. When?????

PK

GMW on Gold GCNYNF-D

ANSWER: I am sorry. There is a crisis brewing and I had to hop on a plane, so I have been super busy. I will begin that this weekend – promise. You are correct. There is something much bigger going on behind the curtain. I gave the targets and the channel objective on the Pro version of the Private Blog.

The key to everything going into the turning point on the Economic Confidence Model is a correlation. True, these people have been pitching gold because the dollar was supposed to crash to zero or Bitcoin was to become the next RESERVE CURRENCY. That was a good one. Anyone who thinks governments will just fade into the light graciously is insane. Christine Lagarde takes the helm of the ECB in October. She has been preaching that the only way to control the economy is to eliminate all paper money and move electronically.

Trust me. There will be no hyperinflation in the USA. These forecasts are so old school that they are laughable. Welcome to the 21st century. If you are surprised about gold rising with the dollar, it’s about time you wake up and look at the world through unbiased glasses.

Gold & Dollar Rising Together?

I. have noticed over. the. years that they have.  printed a large number of weak. monthly. stats…perhaps for this crucial report they. are afraid to print “ever-rosy=scenario”. numbers. to preserve their.  credibilty and integrity…

As for. my. “golden headline” I hope. you’re rignt…I. think futures. open tonight. and. all day tomorrow even. though mkts are closed in the U.S…also. gold. and stocks will trade. in Asia–so we’ll get.  an. indication for Tuesdays. trade…G*d.  only. knows what new horror or spin  they’ll. dream up to. cap gold…

US Slaps New Tariffs On China; One Minute Later China Retaliates

“If I had hair, I’d be pulling it out. I’m really concerned about the financial performance of the business, knowing that if we continue to eat this cost, how much it hurts.”

Maya – I didn’t know that about Gartman’s daughter. Always wondered how he got on that show after being hideously wrong for so many years, and really none of the anchors calling him out on it. Makes sense now.

R6 – those numbers are going to be a crap shoot. I’ve always felt that the numbers – especially the jobs numbers – will be tailored to fit whatever narrative the Fed needs to support their next move.

Regardless, as you say, gold to the moon! Someday! 🙂 Hoping we’ll be ok this week, I think so.

Glad she likes them because they’re on their way to the US

Lagarde Praises Negative Rates (But Study Shows They Reduce Lending)

Negative interest rates unquestionably hurt EU banks and there is no evidence of Lagarde’s proposed counter-benefits… A European banking crisis awaits...

All. will be.  weakish=conclusion=much higher gold prices

Additional tariffs went into effectat midnight=gold to da moon!

…is that his daughter is a Producer on CNBC.  She uses him for a filler.  Caveat Emptor… let the buyer (viewer) beware.  He’s been so wrong, so often, he cannot possibly be a successful trader.