Gold Telegraph
@GoldTelegraph
Gold sets another new RECORD high in US dollar terms to start the week. Now over $2820.
Gold going parabolic to start the week in Canada. Over $4120.
Canadians are finally realizing why I have been urging Canada to buy gold for years.
It’s not too late.
— Gold Telegraph ⚡ (@GoldTelegraph_) February 2, 2025
OPEC+ has officially ditched United States government data from the sources used to monitor its production. Awkward.
US Vice President says that the acquisition of Greenland is very much on the table and the United States does not care what Europe says. Cites national security. Resource wars. @ResourceWars_
BREAKING NEWS: PRESIDENT TRUMP SIGNS EXECUTIVE ORDER TO CREATE A SOVEREIGN WEALTH FUND
Boom.
“Don’t underestimate the power of the underdog.” That is of course, gold. 2017:
Don’t Underestimate the Power of the Underdog.
— Alexander Deluce (@AlexDeluce) January 17, 2017
The world is moving very quickly now, and change is inevitable. Many people who are used to the status quo feel the ground they walk on… shake.
As reported late yesterday, the United States and China are negotiating a trade deal that includes a renewed pledge by Beijing not to devalue the yuan for competitive advantage. At the same time, China is stockpiling gold. Level playing field? @judyshel
The past week has underscored a profound truth: The world requires an international monetary system anchored in stability… one that fosters a truly level playing field, free from m**********n and structural imbalances. Central banks around the world OWN gold.
In 1933, the U.S. revalued gold to alleviate the economy’s debt burden, devaluing the dollar by 69% against gold. This came as the nation emerged from the Great Depression, using inflation to erode the real value of debt.
Today, with U.S. debt surpassing $36 trillion, history suggests that some form of monetary reform is inevitable. The Federal Reserve even knows the trajectory of debt is unsustainable fiscally.
The Department of Government of Efficiency is the first step in my view. Our medium is broken.
Charlie Munger once said something very powerful:
“There is no better teacher than history in determining the future. There are answers worth billions of dollars in a $30 history book.”
If only more people understood this.
US Sovereign Wealth Fund:
“We’re going to monetize the asset side of the US balance sheet for the American people. There’ll be a combination of liquid assets, assets that we have in this country…” – Scott Bessant, US Treasury Secretary
“Liquid assets”
Staff at the Consumer Financial Protection Bureau, the watchdog agency established after the 2008 financial crisis, have been instructed to cease work. The U.S. Treasury Secretary will temporarily head it.
The United States says the country wants U*****e’s rare earth elements as a condition of further support. Again, this comes down to resources. I touched on this last year.
“We’re looking to do a deal with U*****e where they’re going to secure what we’re giving them with their rare earth and other things…”
Gold is flowing into the United States, leading to a shortage in London and a 4-6 week delivery backlog at the Bank of England. Meanwhile, the U.S. has announced plans to establish a sovereign wealth fund. Alright, got it.
