In my opinion gold in (extended or permanent) backwardation is signalling a total loss of confidence in the $US Dollar and is a clear sign that the dollar endgame is here.
The Great Depression will soon look like a walk in the park.
– When You See This Happen, You Know It’s Game Over For The Dollar (ZeroHedge, July 16, 2014):
Exactly 70 years ago to the day, hundreds of delegates from 44 nations were busy at work in Bretton Woods, New Hampshire creating a brand new financial system.
World War II had just ended. Europe was in ruin.
And since the US was simultaneously the largest economy in the world, the primary victor in the war, and the only major power with its productive capacity intact, it was easy to dictate terms: the dollar would dominate the new system.
Every nation would hold dollars as the primary reserve currency, and the dollar would be redeemable for gold at $35/ounce. Continue reading »
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