22 October 2019

Stocks and Precious Metals Charts - Devil Take the Hindmost

"An investigation into the rigging of Libor, the benchmark interest rate that tracks the cost of borrowing cash, has been unexpectedly closed.  The decision comes despite evidence that implicates the Bank of England. It means no one will now be prosecuted in the UK..."

Andy Verity, BBC, Libor rigging inquiry shut down by Serious Fraud Office

"Preserving its historical role, gold continues to be one of the safest assets in the world, which enhances stability and confidence even under normal market circumstances...

The importance of gold in national and economic policy strategy has increased recently, with both holding precious metal within the country and increasing its stock being part of a dominant international trend...

In recent years, an increasing number of countries have decided to again designate a dominant role to this precious metal functioning as a traditional reserve asset and to increase their gold reserves."

Central Bank of Hungary (Magyar Nemzeti), Hungary's gold Reserves Increase Tenfold, Reaching Historical Levels

“A mighty bubble of wealth is blown before our eyes, as empty, as transient, as contradictory to the laws of solid material, as confuted by every circumstance of actual condition, as any other bubble which man or child ever blew before.”

Edward Chancellor, Devil Take the Hindmost

"They run all away, and cry, 'the devil take the hindmost'."

Beaumont and Fletcher, Philaster, or Love Lies a-Bleeding

Despite all the happy talk, nothing has changed.  Not one thing.

Have a pleasant evening.