Business

Gold is having one of its best starts to a year in history as investors start to lose faith in central bankers’ ability to deal with economic challenges. Fed skeptics as well as capitulating bullion bears are being drawn to the precious metals as Bloomberg reports,

“The safe-haven demand appears to be where people are focused on, and that is on a loss of faith in central banks being able to manage through this period,” said Klein, executive chairman of Australia’s second-biggest producer.

 

Submitted by Brandon Smith via Alt-Market.com,

Normalcy bias is a rather horrifying thing. It is so frightening because it is so final; much like death, there is simply no coming back. Rather than a physical death, normalcy bias represents the death of reason and simple observation. It is the death of the mind and cognitive thought instead of the death of the body.

While various Chinese bubbles have already burst in recent years, including those in the real estate, stock market and fixed investment sectors, so far the credit and shadow banking bubbles linger on with bond yields recently touching on record lows as the money invested in the various other bubbles has migrated into various forms of fixed income, including investment companies which promise exorbitant returns.

As we predicted over a year ago, in a world in which QE has failed, and in which the ice-cold grip of NIRP has to be global in order to achieve its intended purpose of forcing savers around the world to spend the taxed product of their labor, one thing has to be abolished: cash.

Dale Dorsey isn’t happy.

After working 33 years, he’s facing a 55% cut to his pension benefits, a blow which he says will “cripple” his family and imperil the livelihood of his two children, one of whom is in the fourth grade and one of whom is just entering high school.