Monday, July 21, 2014

The Barbarous Relic Is Dead!...We Shall Have Infinite Power!

By Chris Rossini

Matt O'Brien gave me a chuckle the other day. Apparently, gold is "a barbarous idea whose time will never come again."

Never again!

The Keynesians have done it!

They have achieved Infinite Power!

(h/t @anarcho7)

1 comment:

  1. Russia Adds 500,000 Ounces Of Gold Reserves In June 2014

    Based on the latest update of the Russian central bank, it appears that Russia has added another 500,000 ounces of physical gold to their reserves. Total Russian gold reserves now stand at 35,200,000 ounces, which equals 921,35 tonnes. Russia is among the top 8 countries based on the officially reported gold reserves. The following chart, courtesy Sharelynx, shows the increase of Russian gold reserves over the last 8 years.

    Russian Gold Reserves June 2014 physical market

    Ed Steer notes in his daily newsletter that the Russian central bank has purchased 1,500,000 troy ounces of gold, which is pretty close to 100 percent of their own production. He adds to it that if they could be convinced to buy all their silver production as well, then the fox would certainly be amongst the pigeons, as Russia’s 1,700 tonne yearly production represents a bit over 6.5 percent of yearly world silver production, which is a material amount.