Cash is king, more potent than we think

8 min read

On March 12, 2020, on the eve of President Trump declaring COVID-19 a national emergency, the New York Times reported that something weird had happened on Wall Street as traders ran for cash. They were selling everything they could, including gold, commonly considered as a secure investment during turbulent times. Within the preceding three days, the price of gold dropped from $1,675 per ounce to $1,610 per ounce. A week later, in its headline, the Wall Street Journal proclaimed that “wild rush for cash rattles markets.” The price of gold sank to below $1,500 per ounce. Why cash is better…...

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Henryk A. Kowalczyk An engineer by training, an argumentative writer by calling, and an entrepreneur by necessity. In my youth, I was among those Polish political writers who paved the road to the peaceful system transformation that took place in 1989. Since 1985, I have lived in the Chicago area. Working in the service business, I have experienced an America not known to most politicians and political writers. I have built from zero a few successful businesses, both in Poland and in the United States. I write whenever I see that the prevailing voices in the political arena are misleading or erroneous. I write to tell it like it is.