In this report, I cover the U.S. markets after the close from London on Friday, August 23rd, 2019. I look at how the stock market indexes dropped almost 3% and how gold and silver rallied over two per cent on the day.
This evening I also look at an article on Zero Hedge in which they cover a speech by the Bank of England governor Mark Carney at Jackson Hole in Wyoming. In his speech, Mr Carney called for the scrapping and replacement of the current fiat dollar-based monetary system.
For once it looks like a Central Banker is admitting that the current monetary and financial architecture of the world is kaput and needs resetting. Governor Carney hints at "Libra Like" currency to replace the dollar.
My conclusion, as well as Zero Hedge's, is that whatever happens gold should also play a big part in whatever new monetary construct the powers that be are considering for replacing the current bankrupt fiat currency system.
"In Unprecedented, Shocking Proposal, BOE's Mark Carney Urges Replacing Dollar With Libra-Like Reserve Currency": https://www.zerohedge.com/news/2019-08-23/unprecedented-shocking-proposal-boes-mark-carney-urges-replacing-dollar-libra
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