Ross Powell is the founder of Survival 401k, a specialty financial services company that provides hard-asset based retirement account solutions and preparation recommendations. Please visit his website to explore the critical solutions that Ross offers. This article was originally published on US Daily Review: Italy, India, and Institutional Immolation
With 2016 almost in the history books, major developments in Italy and India have clarified and solidified several of the macro trends that have come to the forefront this year. This article is not intended to serve as a comprehensive review of these substantial situations, but it should serve as a primer and prism to help us understand what we should be focused on in geopolitical and financial terms as we move into 2017.
Italians recently voted on a referendum and by a wide margin rejected a sweeping spectrum of constitutional reforms. The obsolete media didn’t bother to inform Americans fully about this major decision, but it’s worth asking why the referendum should be significant in the first place. In normal times, this preservation of the status quo would typically be seen as inconsequential. However, we are not in normal times.
Continue reading “Ross Powell – Italy, India, and Institutional Immolation”
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Tonight we will be examining the implications of the Italian referendum from this past weekend as well as the progression of the war on cash in India. These two narratives provide a useful perspective from which to analyze the macro trends in geopolitics and finance that are currently reverberating around the globe.
Is the revolt against globalism over or is it just getting started? What is the real motive behind the banning of large bank notes? Who stands to benefit from recent developments? How will all of this play out over the coming months and years? What should we be watching for and what steps do we need to take?
Bring your questions to our open forum and join us for another lively meeting of The Amateur Society. We look forward to having you with us. Stay safe and God bless!
Please read the following article before taking a look at my comments on the situation: Gold Price Skyrockets In India After Currency Ban
Here are the most important considerations from the article:
As I write this in the morning of 9th November 2016, there are huge lines forming outside gold shops in India — and gold traded heavily until late into the night yesterday. Depending on who you ask, the retail price of gold has gone up between 15% and 20% within the last 10 hours.
At some places, it was sold for as much as US$ 2,294 per ounce. That is, if you can actually find physical gold — gold inventories at stores are rapidly depleting. All of this happened well before the international price started to move up because of the election results coming out of the US.
Last night (8th November 2016), India’s government banned the use of Rs 500 (~$7.50) and Rs 1,000 ($15) banknotes. This pretty much made most currency-in-use illegal. Banks and ATMs are closed today. The government believes that doing this will help eradicate corruption and push counterfeit money out of circulation. According to the Indian government, the counterfeit money tends to come from Pakistan and helps finance terrorism.
In countries that don’t have world reserve currency status and endless deep pockets to prop up – or shove down – various prices in order to avoid derivatives books blowing up, gold is wildly popular and even priced at all time highs.
Continue reading “How Gold Reacts To The War On Cash”