Remember the golden rule – those with the gold makes the rules. This of course is not the moral version of the true golden rule, but nevertheless, it’s one that the world has operated from for quite some time.
In today’s podcast we highlight the economic and financial news with initial jobless claims hitting 3.8 million in the prior week – taking the six week total to over 30 million Americans having filed for unemployment insurance. The Fed also updated their balance sheet and it’s week over week change was an additional $82B. This figure is well below that of the last several weeks as the Fed has added over $2T to its balance sheet over the past month.
The crux of today’s discussion is centered around the political blame game that is both coming and underway, especially as it relates to COVID19. We mention how this heated rhetoric may lead to conflict that may likely take the form of proxy war(s). A couple of strong candidates would be that of Iran and Venezuela. Over the last couple of days, news agencies have been noting how Venezuela has sent about $500 million worth of gold to Iran in exchange for Iran’s assistance with one of their refineries. Also, Venezuela has been asking the Bank of England, which stores some of Venezuela’s gold reserves, to sell some of their gold and give the proceeds to the United Nations. This would be to serve the purpose of assisting the UN so that in turn the UN may assist Venezuela combat COVID19 as well as their many economic woes. The Bank of England is refusing to comply with Venezuela’s request because the UK does not recognize the Maduro regime as the legitimate government. So now as a result, even more people will become refugees and/or suffer from starvation, energy shortages, and a myriad of economic problems.
So in short, when gold starts getting moved around (or is prohibited) and when it also pertains to a couple of countries that are both under harsh US sanctions, while at the same time both of these countries are heavily reliant on oil and gas – it makes us wonder here at The Kapital News as to what is truly going on and where me may be headed. In addition, US naval and military forces are around both countries. We do not want war, but if history is any indicator, we’re likely headed in that direction. Stay diversified, stay vigilant, and stay with The Kapital News. #Gold #Oil #War #Economy #Recession #Debt #Bailouts #USA #Venezuela #Iran #Peace