#germany #youngbond #inflation #gold #jpmorgan #default #inflation #worldwar2 #youngplan
Today I will look back at history to show you how paper promises are very easy to break in this case I will look at the 1930 German Government International 5.5% Loan also known as the Young Bond.
Paper promises or bonds are not only easy to default upon de jure but also through a paper money or fiat currency system in which the bankers are able to inflate away the value of their debts.
My conclusion is that the current massive inflation of the monetary will system will not be different from other periods in history and those investors who keep hold of paper promises will again lose out big time through the insidious process of fiat currency debasement.
"Market Place; Hitler Defaulted, but Now Germany Will Pay Debt": https://www.nytimes.com/1995/01/06/business/market-place-hitler-defaulted-but-now-germany-will-pay-debt.html
Young Plan: https://en.wikipedia.org/wiki/Young_Plan
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Hi Mario.
My dealer was charging me a premium but because he was keeping his spread the same he was also paying a smaller premium. His normal margin was +/- $1/oz off of the market price. A few weeks ago it was like +$5/+$3 of off the market price. Premiums are higher now.