Category: James Turk

The Importance of Gold and Reasons for its Suppression

The post-war Bretton Woods Agreement confirmed the US dollar to be fixed to gold at $35 per ounce. All other national currencies were linked to gold through the dollar at the central bank level. Ordinary civilians, businesses and commercial banks were not permitted to exchange their currencies for gold through central banks, so this was…

Oil Producers Are Moving Away From the USD

The pact between Nixon and Saudi Arabia back in 1973 set the dollar up as the exclusive settlement currency for oil exports, following the collapse of the Bretton Woods Agreement in 1971. Since then, the very few countries that threatened to sell oil for other currencies, notably Iraq under Saddam Hussein, and Libya under Colonel…

Outlook for the Dollar Price of Gold

Now that gold has become overbought on Comex, the price is vulnerable to being trashed, yet again, by the too-big-to-fail banks. It is a familiar operation in gold futures markets, where speculators buying contracts protect themselves with stop-losses. All the TBTF banks need is a pause in the speculator’s buying and a little good news…

The bitcoin revolution has caught the attention of traditional banks and hedge funds. Financial companies are working on a platform that will use blockchain technology to verify and record transactions in gold trading. Exchange owner CME Group, TradeWind Markets, and financial technology firm Paxos are working to make the $27 billion-a-day gold market digital. The…