Bitcoin the International Commodity
COMMENT: Mr. Armstrong, I am a newcomer. I watched your WEC virtually. It was very eye-opening. I also want to thank you for Socrates and for covering Bitcoin. Your service [...]
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
Extremism – Its the LEFT’s Feel Good Policy
LEFT always points to the RIGHT to make people feel better
DEA Suspended from Robbing Airline Passengers
The Drug Enforcement Administration (DEA) has been criminalizing airline passengers since the Patriot Act gave them the permission to treat everyone as a suspected terrorist. The Justice Department has finally [...]
Orban Says Europe Cannot Defeat Russia Without America
Hungarian Prime Minister Viktor Orban believes “peace will be within reach” once Donald Trump in inaugurated in January, adding that the Ukraine-Russia war has “entered its most dangerous phase.” In [...]
