You are here

Charles Hugh Smith: Our dead money economy

Section: Daily Dispatches

12:15p ET Friday, March 19, 2021

Dear Friend of GATA and Gold:

Financial writer Charles Hugh Smith of the Of Two Minds blog this week elaborated brilliantly on a point made lately by the market analyst and author James G. Rickards: that the "velocity" of money isn't coming close to keeping up with money creation, at least not yet.

... Dispatch continues below ...


Buy, Sell, or Store Precious Metals with Money Metals Exchange

Money Metals Exchange, a national bullion dealer recently voted "Best in the USA" by a worldwide ratings group --

-- is a great low-cost source for precious metals coins, rounds, and bars. Money Metals also pays handsomely when you wish to sell your precious metals.

Shop online with Money Metals Exchange here --

-- or by calling 1-800-800-1865.

Meanwhile, Money Metals Depository will store your precious metals in a segregated account at low cost:

Smith writes that the result is "our dead money economy":

"The surprise is that the velocity of money of zero maturity topped out in the inflationary peak of 1981 and has been in a freefall since the start of the financialization-globalization era.

"Not to put too fine a point on it, but this aligns with the secular stagnation of earnings and wages that began in earnest at the same time (1981), and the rising dependence on central bank intervention and stimulus that has reached the extreme absurdity where the U.S. stock and bond markets and its entire financial system now teeter on the edge of collapse if there is even a hint that 1) the Fed won't give more free candy to Wall Street or 2) the Fed has lost control of the dead money economy it has created."

Smith's analysis is headlined "Our Dead Money Economy" and it's posted at Of Two Minds here:

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

* * *

Toast to a free gold market
with great GATA-label wine

Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express.

Here's what the bottles look like:

Buyers can compose their case by choosing as many as four varietals from the list here:

GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals?

To order a case of GATA-label wine, please e-mail Fay J Winery at

* * *

Support GATA by purchasing
Stuart Englert's "Rigged"

"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon --

-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at

* * *

Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

To contribute to GATA, please visit: