Bern
Member

I'm not sure why? It has nothing to do with what is happening in Zimbabwe.

Gold closed the week at $2,434.73 at the SGE (China) - roughly $90 higher than spot through US trading hours. Now er got escalation in the middle east (Iran/Israel). That's a lot of rocket fuel for gold I would think.

Looks like gold is going to close out the week near $2,400. It's still looking strong even with the dollar index rising.

https://www.nysun.com/article/the-miracle-of-milei-argentina-could-spark-a-passionate-embrace-of-individual-liberty-and-prosperity?newsletter-access

Zimbabwe has announced the replacement of the Zimbabwe dollar (ZW) with a new gold standard currency (ZiG) backed by a basket of gold and USD. They are renaming the existing ZiG digital gold token as GBDT (gold backed digital token). https://www.pmbug.com/threads/zimbabwe-made-gold-legal-tender-and-reintroduces-gold-standard.4966/post-98582

Thanks, but I don't think it ever left. They have just ramped it up lately. I didn't follow up in this thread, but the banking system has been busy developing debanking rules based upon anti-money laundering (AML) concerns that have been debanking all manner of small business that are heavy cash operations including coin shops that buy and sell physical gold and silver. It's an insidious disenfranchisement of free market trade.

Thread title probably needs an update. Gold at $2,280 ATH and eyeing $2,300 ... Maybe $2,500 by end of year?

Bold is mine: https://www.forbes.com/sites/digital-assets/2024/03/28/cbdc-prohibition-is-gaining-momentum/ That's what I've been saying...

Cheers. 1773123345820614699 https://twitter.com/mercoglianos/status/1773123345820614699

https://www.msn.com/en-us/news/us/these-people-are-heroes-maryland-gov-reveals-how-lives-got-saved-before-bridge-collapse/ar-BB1kz6Wd

https://www.msn.com/en-gb/news/us/uk-court-says-assange-cant-be-extradited-on-espionage-charges-until-us-rules-out-death-penalty/ar-BB1kyCC7

Word from Russian propaganda/news channels is that the Ukranian embassy/consulate in Tajikistan had published and then deleted something on their website trying to recruit or foment Russian action. Details are sketchy. Take with a grain of salt.

Zero reserve requirement does not "expire". It's still the current regulatory regime. While banks are not required to maintain any specific reserve ratio any more, they do have to manage liquidity. They (the banks) are fighting right now to avoid having to comply with Basel III standards on that front as American banks do not have the reserves/liquidity to meet the Basel III requirements. Last I saw, it looked like the Fed was going to neuter the requirements. I wrote a bit about this issue here: https://www.pmbug.com/threads/what-is-risky-in-life-zero-reserve-or-full-reserve-banking.5723/ Also, the banking laws changed from bail-out to bail-in circa 2013: https://www.pmbug.com/threads/no-banks-are-safe-bail-ins-fdic-limits-systemic-risks.2237/

Thanks to the dollar's role as an international reserve plus Fed QE, the US Treasury Dept really should be printing up 1,000 and even 10,000 dollar bills.

Trying to disqualify an incumbent politician on a technicality like that is a top tier bitchass move. Anyone supporting Eric Deters supports everything wrong with American politics.