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This week marked the 50th anniversary of President Richard Nixon slamming shut the “gold window” and cutting the last tether between the dollar and gold. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey explains exactly what Nixon did and the impact of 50 years of monopoly money. He also covers some of the week’s economic data and the release of the Fed’s July minutes.
You can visit the show notes page here: https://bit.ly/3D2P6kP
Tune in to the Friday Gold Wrap each week for a recap of the week’s economic and political news as it relates to gold and silver, along with some insightful commentary.
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Is More Inflation Coming?
Inflation refers to the rate in which the price of goods and services is increasing in a given period of time and region. In other words, this term is used to measure the pace in which money is losing in value. When the level of inflation is growing fast, the name hyperinflation is employed for describing a serious economic predicament which can lead to the crash of the monetary system in a state.Do Central Banks Control Gold?
When the gold standard was in force, central banks internationally manipulated gold rates in order to protect their national currencies. The best example is the US, where only between 1913 and 1920 inflation rose by a stunning 98%, while the gold price remained the same.What Is Hyperinflation?
Those who constantly follow the business section in the newspapers and even dedicated TV news watchers may have knowledge of what inflation is or which are the countries affected by it. Of course, we may all have the recollection of times when we experienced times when prices of goods and services went up and the money we earned never seemed to be enough to pay for them. But perhaps it’s not all of us who are aware that such a phenomenon is known by the name of inflation.Investors Are Going For Mining Stocks
Call it an effect of the economical crisis or a true “awakening” of mankind, but these past few years, people have started to become more and more interested in profitable activities such as investing. To be truthful, more money never hurt anyone, so venturing in the financial domain probably won’t be of any harm either, as long as you play it safe.The Royal Mint
Precious metals have always seemed to offer a special fascination for people. Of course, their intrinsic beauty and value contribute a lot to their popularity, but when they take the form of jewelry, bars, coins or medals, they simply become irresistible to collectors or investors. This is the reason why mints all over the world do their best to come up with the most exquisite gold related products. The more renowned a mint is, the higher the level of mastery it displays in manufacturing them.
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