News Story of the Day: Do central banks know something the rest of the public doesn’t? Or perhaps they have finally realized that fiat money is a failed monetary experiment.
According to the World Gold Council, global demand for gold bullion climbed in the third quarter, buoyed by central banks and retail consumers.
In total, demand reached 964.3 tonnes in the July-to-September period, up from 958.1 tonnes from the same time a year ago. Central banks accounted for 148.4 tonnes of gold, the biggest purchase since 2015. This was supported by Russia, Turkey, Kazakhstan, India, Poland, and Hungary.
At the time of this writing, gold is trading at around $1,234 per ounce.
Chart of the Day: In October, the U.S. economy added 250,000 jobs, and the biggest gains were found education, hospitality, and business services. But to look at the bigger picture, here is the chart courtesy of CNBC:
Illustration of the Day: The newest trend in the world of memes is the NPC (non-playable character). Here is one meme:
Quote of the Day: Jobs not mobs is the latest slogan for the Republican Party in 2018. But should the economy demand just any job or a job that will contribute to the economy? Milton Friedman explains:
“If all we want are jobs, we can create any number—for example, have people dig holes and then fill them up again, or perform other useless tasks. Work is sometimes its own reward. Mostly, however, it is the price we pay to get the things we want. Our real objective is not just jobs but productive jobs—jobs that will mean more goods and services to consume.”
Tweet of the Day: If you’re not following the Canadian politics parody accounts on Twitter, then you’re really missing out. Here is one that mocks Environment Minister Catherine McKenna, otherwise known as Climate Barbie.
I think they mean “Holiday Market”. Apologies to newcomers who may be offended. It’s not who we are as Canadians. https://t.co/0iaQqt5IWL
— CatheMckennnna 🇨🇦 🚹 (@CatheeMcKennnna) November 2, 2018
Video of the Day: The Counterfeit News Network has become a meme. “We should not demonize people.” Moments later: “White people are terrorists!” It’s hilarious. Here is Don Lemon spouting such nonsense:
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