In this report, I cover the early market action from London on Friday, October 11th, 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 will cover a few different subjects but the main focus is to look at the performance of gold in the 21st century versus the major national fiat currencies of the world.
I will look at the latest developments in the Middle East as it concerns the price of oil and I will also look into a new gold futures contract launched on the Comex exchange called the Shanghai Gold contract what that means to the gold market.
Many people are still in the paradigm that the best way to hedge against a particular depreciating national currency is to own another national currency that is performing better. In my opinion, one needs to get out of that mindset and realize that all national currencies, the dollar included, are sinking to the bottom.
My conclusion is that the only way to protect one's monetary savings from currency debasement is through the accumulation and hold of gold and silver for the long haul.
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