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Gold Crumbles as ‘Vengeful Dollar’ Takes Out Commodities

  
CommoditiesAug 06, 2021 02:00PM ET

NLP1 commented on this article:

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NLP NLP
NLP1 Aug 06, 2021 6:12PM ET
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I’ve always enjoyed your articles and I honestly get a kick out of the back and forth between you and some of your readers. I appreciate that you care enough to defend your work. Gold has made of mockery of traditional thinking since last August. Would love to read your thoughts on “untraditional” thinking? (ie cryptocurrency as the hedge gold should be).
Barani Krishnan
Barani Krishnan Aug 06, 2021 6:12PM ET
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Hello there, NLP1, missed your comment from earlier in the day while sparring with the comical nut called Bill Ackman. Yes, it is indeed sad the disrespect gold gets as a hedge against inflation. Today, it is treated as a foil of the dollar/10-year, nothing more, nothing less. Forget that you have mega trillions in US debt and building; as the sovereign of the world, the DX gets a free pass for the Fed's abuse of the printing press that other central banks would have been crucified for. Taper? Buy dollar, sell gold. Tightening?  Buy 10-year, sell gold. Inflation concerns? Sell gold ,,, again! Despite it's so-called standing as an inflation hedge. All I can is that it's a nutty world. Even more ridiculous is the theory of crypto as a viable alternative to gold. Seriously? Where are people's senses these days?? :)))
NLP NLP
NLP1 Aug 06, 2021 6:12PM ET
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I don’t get it either. Yet right before our eyes, a bunch of algorithms stacked via blockchain have become an asset class that is still finding its way into mainstream finance culture. ETF’s have been approved in several major jurisdictions globally and liquidity often resetrved for the metal has been siphoned into this new class. How long can this last?
Barani Krishnan
Barani Krishnan Aug 06, 2021 6:12PM ET
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NLP NLP  It's a systemic move to destroy gold, to ensure it never again threatens DX in a significant way.
NLP NLP
NLP1 Aug 06, 2021 6:12PM ET
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I wholeheartedly agree with this statement and it’s forced me to alter my investment portfolio. Cheers and looking forward to reading your future pieces.
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