The unfolding banking instability (a crisis if your money is affected, a minor problem if it's other people's money) is showing the impossibility of the central banking quest to tame inflation. In the long run Higher Rates are intollerable in a high debt world.
The antidote for this is gold.
But at the same time another economic phenomenon is unfolding and this one is equally problematic for western economy and equally beneficial for gold: and that is the de-dollarization movement that flows unyeildingly from the the de-globalization movement - that unfortunately is even welcomed by the economically challenged in our own country!
Here are some headlines from this week:
Putin told Xi Russia's ready to switch to yuans in foreign trade
"We are in favour of using the Chinese yuan in settlements between Russia and the countries of Asia, Africa, and Latin America. I am sure that these forms of payments in yuan will be developed between Russian partners and their colleagues in third countries," Putin said.
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