The International Monetary Fund (IMF) painted a stark picture of the global economy this week slashing the outlook for world growth while forecasting a damaging recession in Europe that will leave no country, including Canada and the U.S., unscathed. The report stated that financial conditions have deteriorated, growth prospects have dimmed, and downside risks have escalated and, as such, policymakers must immediately move forward together to save the world economy from falling into a 1930s-style death spiral because the longer corrective action is put off the worse it will actually get. Words: 640
January 23rd, 2012 | Posted in Economic Overview,Economy | Read More »
In the East…gold is not only celebrated, acquired, worn or displayed during holidays or special occasions; it is seen as an everyday symbol of wealth. Increases in demand from China and India have driven a 7.5 percent increase in demand for gold jewelry during the first half of the year despite a 25 percent increase in the price. [Overall,] gold buying in India jumped 38 percent during the second quarter alone…China’s gold purchases jumped 90 percent on a year-over-year basis through June. In addition, demand from central banks is growing dramatically. [Such activity is setting up a] perfect storm – a tidal wave of gold demand [which can only keep prices high and escalating. Let me be more explicit.] Words: 959
September 18th, 2011 | Posted in Gold/Silver,Investing | Read More »
Here is an up-to-the-minute list of the amount of gold owned by the top 10 countries in the world plus that of the International Monetary Fund. Words: 257
July 25th, 2011 | Posted in Gold/Silver | Read More »
Every single day the U.S. economy is getting weaker. Every single day we are going into more debt. Every single day we get closer to the collapse of the entire system but time is running out. The entire U.S. financial system has become a gigantic shell game (a confidence trick to perpetrate fraud) but when it ends the consequences can be painful and, sadly, that [pain is eventually going to be ours to experience. Let me explain.] Words: 1483
June 28th, 2011 | Posted in Debts/Deficits,Economy | Read More »
Boston University economist, Prof. Kotlikoff, maintains that the U.S. cannot end its fiscal crisis by doubling taxes, as the International Monetary Fund suggests, or further stimulus spending [as Bernanke is doing] because it will simply increase the debt. [Instead he has some radical proposals of his own.] Words: 704
November 14th, 2010 | Posted in Debts/Deficits,Economy,Inflation/Deflation | Read More »
No wishful thinking here! As I see it gold is going to a parabolic top of $10,000 by 2012 for very good reasons – sovereign debt defaults, bankruptcies of “too big to fail” banks and other financial entities, currency inflation and devaluations – which will all contribute to rampant price inflation. Words: 1111
November 5th, 2010 | Posted in Gold/Silver,Investing | Read More »
The magnitude of current private and government debt, coupled with massive unfunded contingent liabilities for promises of future services to their citizens, will prove to be impossible for many nations to fund. Massive inflation in the money supply will become the preferred vehicle to deflect the default monster and will result in vastly devalued currencies and price inflation as a prelude to default. Such action will be a desperate attempt to buy time to stave off the inevitable and will result in social unrest caused by persons whose comfortable lifestyle and elevated standard of living is about to disintegrate before their very eyes. Words: 1525
November 3rd, 2010 | Posted in Debts/Deficits,Economy | Read More »
It is clearly evident that America’s debt picture is truly astronomical and, like the situation with Greece, the debt cannot, and never will, be repaid. Indeed, any way you look at it, the consequences for the United States, let alone the many other haunted economies, are grim, dismal – even disastrous. Words: 1166
May 23rd, 2010 | Posted in Debts/Deficits,Economy | Read More »
Many countries have suffered through the destruction brought on by huge surges of inflation and many people have lost their wealth, their savings, and even their perspectives in the wake of inflationary episodes. Indeed, inflationary periods are highly unjust. They undermine the ethics of hard work and thrift. They destroy solidarity, lead to widespread hardship and often to social unrest. [Is such a time upon us once again?] Words: 711
April 17th, 2010 | Posted in Inflation/Deflation | Read More »
Gold has been the best-performing major commodity since the financial crisis began and we see no big reason why that outperformance should be over. After its breathless run to $1220, it’s entitled to correct back toward $1,000—or even a bit below that chiliastic level—without ending its bull market. Words: 707
February 22nd, 2010 | Posted in Gold/Silver | Read More »
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