In this report, I cover the early market action from London on Thursday, June 13th, 2019. 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 look into the current monetary non-system the world has been under since President Nixon closed the gold window on August 15th, 1971. Under the current environment countries around the world need to accumulate fiat dollar reserves in order to trade not only with the U.S. but with every other country around the world.
The consequence of the fiat dollar or Petrodollar system has been the unrestrained growth of debt as there is no anchor like gold to limit credit creation by nations around the world and especially the U.S. The current Trading system incentivizes other countries around the world to sell as much to the U.S. in order to accumulate dollars.
My conclusion is that this Paper Age we have had for almost fifty years is on its last legs and that the world will have to revert to a classic gold standard under which balanced trade between nations will be the norm.
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"Paul Tudor Jones Reveals His Favorite Trade For The Next Two Years": https://www.zerohedge.com/news/2019-06-12/paul-tudor-jones-reveals-his-favorite-trade-next-two-years
