More people are waking up to the reality of large banks rigging markets. For example, when Western bankers, under the U.S., tried to reduce the Russian Ruble to “rubble” by going after the energy sector, then gold, they failed. What is interesting, is that now, so far in 2015, the strongest currency of the year is the Ruble as Russia continues to build up their gold reserves.
No Longer Undervalued
David Lipton, the Washington-based IMF’s first deputy managing director, no longer believes China’s tightly controlled currency is undervalued. He also said Beijing should work toward having a floating exchange rate in two to three years. Is that before or after they back their currency with gold?
Drowning in Debt
According to the European chief executive of Goldman Sachs Asset Management, the world is sinking under too much debt and an…
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