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Economic Lessons from the Age of the Pharaohs

Commodities / Gold and Silver 2015 Dec 29, 2015 - 02:55 PM GMT

By: GoldCore

Commodities

“Joseph urged the Pharaoh to set aside one fifth of the crop in the good times and store the grain to ease the famine in the bad times, because if he didn’t do that, the good times would be forgotten and all the people would remember was the bad times. This wouldn’t be politically good for the Pharaoh.”


“This is where economics began, on the shores of the Nile. This is where the Hebrew Joseph began to interpret the dreams of the Pharaoh, claiming that the economy moved in cycles. This was also the birth of the seven-year business cycle, plus countercyclical macro policy.”

David McWilliamslooks in the past and ahead at the effects of enormous debt accumulation in a world where another seven-year business cycle is ending. The full article can be read here.

DAILY PRICES
Today’s LBMA Gold Prices: USD 1067.25, EUR 972.89 and GBP 718.46 per ounce.
24 Dec LBMA Gold Prices: USD 1071.90, EUR 978.02 and GBP 719.42  per ounce.

Gold Bars At 2% Premium and Free Storage For Six Months On Orders Before December 31st

  • 2016 looks set to be stormy – arguably it has never been a better time to buy gold
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  • US +1 (302) 635 1160

This update can be found on the GoldCore blog here.

Mark O'Byrne

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E info@goldcore.com

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Disclaimer: The information in this document has been obtained from sources, which we believe to be reliable. We cannot guarantee its accuracy or completeness. It does not constitute a solicitation for the purchase or sale of any investment. Any person acting on the information contained in this document does so at their own risk. Recommendations in this document may not be suitable for all investors. Individual circumstances should be considered before a decision to invest is taken. Investors should note the following: Past experience is not necessarily a guide to future performance. The value of investments may fall or rise against investors' interests. Income levels from investments may fluctuate. Changes in exchange rates may have an adverse effect on the value of, or income from, investments denominated in foreign currencies. GoldCore Limited, trading as GoldCore is a Multi-Agency Intermediary regulated by the Irish Financial Regulator.

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