Gold had a huge breakout this past week, building upon the initial breakout at the beginning of March 2024.
What does it mean? What are the implications?
In this episode of Finance U Paul Kiker and I discuss the fact that the West seems to have lost its multi-decade-long iron grip on the price of gold, the connection of that to the US’s ill-advised decision to seize Russia’s sovereign reserves on Feb 28th, 2022, and the increasingly strong possibility that the BRICs will use some form of gold-backing to replace a weaponized US dollar.
Oh, and silver seems to be joining the party now too. And oil. This is the sort of party the Fed really doesn’t want to get started, but it’s caught in a bind at the moment.
Fun times, fun times.
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