Market Talk – May 1, 2024
ASIA: The major Asian stock markets had a negative day today: NIKKEI 225 decreased 131.61 points or -0.34% to 38,274.05 Shanghai closed Hang Seng closed ASX 200 decreased [...]
Panic of 1857 & Gold
QUESTION: Didn’t you also buy gold bars from the SS Central America ship that was discovered? The gold bugs hate you and say you are bearish gold but you buy a lot of it.
All the best
JE
ANSWER: Oh yes. I tend to collect important relics from major economic events. The sinking of that ship set off a financial panic in NYC because the banks were counting on that gold shipment. I did buy bars. There were some 30,000 pounds (13,600 kg) of gold and about 15 tons were recovered.
They are a piece of history. I would not melt them down.
The post Panic of 1857 & Gold first appeared on Armstrong Economics.
Latest Posts
PRIVATE BLOG – The May 7th ECM Target
PRIVATE BLOG – The May 7th ECM Target Private blog posts are exclusively available to Socrates subscribers. To sign-up for Socrates or to learn more, please visit Ask-Socrates.com. https://ask-socrates.com/
The Traitor Waving Ukrainian Flags on the House Floor Should be Removed from Office
https://www.armstrongeconomics.com/wp-content/uploads/2024/04/Waving-Ukrainian-Flags.mp4 President Theodore Roosevelt made it perfectly clear Anyone who has any allegiance to a flag OTHER THAN American has no business being in public office and should [...]
The President Overtaking the Federal Reserve – BAD IDEA
I do not agree with Donald Trump’s view of the Federal Reserve. I speak on behalf of sound economic policies that benefit the people. I do not blindly support a [...]
