In The News Today

Posted at 9:49 AM (CST) by & filed under In The News.

Bill Holter’s Commentary

But what about the pizza parlors that will accept bitcoin up there, you mean that part of it was a hoax?

Elon Musk Warns First Travelers to Mars: ‘Good Chance You’ll Die’
March 12, 2018

At South by Southwest, SpaceX Founder and CEO Elon Musk projected that his first Mars spaceship will be ready for short trips by the first half of next year. He did warn, however, that the first travelers to Mars would likely perish.

“For the early people that go to Mars, it will be far more dangerous,” Musk told HLN on Monday. “I mean, really, it kind of reads like Shackleton’s ad for Antarctica explorers: It’s difficult, dangerous, good chance you’ll die, excitement for those who survive.”

This warning came after a positive declaration: “We are building the first ship, the first Mars or interplanetary ship right now and I think we’ll be able to do short flights, short up and down flights, probably in the first half of next year,” Musk predicted.

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Bill Holter’s Commentary

Probably a wise idea based on how many EFP obligations have built up in London!

Hungary’s Central Bank To Repatriate Its Gold From London
March 9, 2018

The leadership of the Hungarian National Bank (MNB) has decided to bring back home Hungary’s gold reserves. Up to now, 100,000 ounces (3 tons) of the precious metal were stored in London, which is in total worth some 33 billion forint ($130 million) at current gold prices.

The decision seems to be in line with international trends as storage of gold reserves out of the country is now considered risky by more and more central banks. Austrian, German, and Dutch central banks are among those who have recently decided to repatriate their gold reserves. According to MNB, this may also further strengthen market confidence towards Hungary.

MNB has been holding gold reserves since its foundation in 1924. Towards the end of World War II, it had been transported to Austria on the famous Gold Train, captured by the Americans, then repatriated in full in 1946. The highest amount Hungary has ever had was around 65-70 tons at the beginning of the 70s. At the end of the 1980s, however, a decision was made to decrease gold reserve to the lowest possible level and rather to invest in sovereign debts, which as a consequence of the collapse of the Bretton Woods system are considered safer, more liquid and potentially of higher yields. At the beginning of 2010 this tendency changed again and central banks started to accumulate gold as a potential response to the financial crisis.

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