In this report, from London on Thursday, July 11th, 2019 I cover the afternoon market action. I look briefly at the precious metals, the stock market, the dollar, the bond market and the price of WTI and Brent crude oil.
Today I talk about my experiences growing up in a Third-World country or Brazil and how our family was able to cope and even thrive through the hyperinflationary environment of the 1970s and 1980s. At the time the dollar was king and was basically as good as gold for Brazilians and having access to dollars went a long way.
Unfortunately, since 2008 the U.S. and the rest of the West have been moving towards an economic environment that resembles very much like that in a Third World country and from what I learned from my experiences in Brazil it is vital to have access to an alternative and preferably sound currency.
My conclusion is that as the dollar and other major fiat currencies continue to be debased the safe haven will be the precious metals like gold and silver. Cryptocurrencies are also an alternative but much more speculative and their track record not ancient like the precious metals.
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"Former World Bank President: Big Shift Coming":
