I think this is an ominous sign. In the fallout of the 2007/2008 crisis, there was all kinds of talk amongst the Davos/G20 crowd about different ideas/plans for a NWO monetary system. That talk seems to have faded away as ZIRP (and, in some places, NIRP) seemed to stabilize the system. Today, we have credit bubbles/stresses growing everywhere - zombie firms/junk bonds, consumer credit debt, headwinds for future treasury issuances, etc. The main global financial institutions (BIS, IMF, Fed, etc.) have all published warnings about the lack of powder to manage the next financial crisis. Still, we don't see chatter about any NWO monetary systems. Has the issue been decided? Or is the world too polarized now with all the nationalist political movements? In any event, I woke today to find two items published by pillars of the financial establishment promoting gold to weather the next crisis. First, Rogoff wrote a piece for the World Gold Council. And the following was published in The Economist: https://www.economist.com/finance-a...rikes-where-should-you-hide-the-case-for-gold Maybe I missed something, but it really seems like they are getting the word out - the next crisis will be unmanaged, protect yourself with gold. It's going to be a bumpy ride.
Rogoff was spot on for Bitcoin in an interview 1 year ago. What he said about Bitcoin is really what I had thought about Bitcoin, which is Bitcoin won't fall to zero but the real value is going to be much lower than the current price, and that governments will all start to regulate cryptos to prevent tax evasion and money laundering. If physical cash is abolished, in an event of a bankrun, there will be no where to run. By the time we get to that stage, gold will be like $10,000/oz, too expensive for many, so silver is the only alternative store of value. This is what is happening in India where people can't afford gold so they buy silver.
