We are running deficits that have no precedent in US history after we whined about the debt for all eight years under Zero. The Government is depressing interest rates in the biggest market manipulation in history. The US is printing money like water. And we are using that newly printed money to buy our own bleeping bonds!
We are starting to look like Argentina or Venezuela.
Between now and November, current unemployment support will end. waivers on mortgage and student loan debt will end, and banks will be demanding payments, including deferred payments, which many will not be able to afford. By October there will be a Housing bubble collapse. We face the real possibility of a financial panic right before the election. No wonder people are fleeing to precious metals for security.
For the last two or three weeks they have been telegraphing that Trump is a dictator, that he will not accept defeat, and that if a close election happens he will refuse to leave the White House, and that they will need to use Force to remove him. Prominent generals and politicians have come out against him. People, they have told us their game plan. Nancy Pelosi comes out and announces she has been meeting with continuity of government people. Wallace on Fox Sunday started pressing Trump for a commitment he would leave office.
We will get no result on Election night no matter what. Democratic Governors will guarantee that with some excuse. Anything from covid-19, to a power outage, etc. this will be like the contested 2000 election... on steroids. Price of gold reflects instability
Silver up to $22.62 right now driven by the Asian Market.
The Dollar Index has dropped in value to the 95 range.
The USA and the other countries in this world can’t keep printing money to recover from the Chinese Plague without repercussions.
Smart money is moving from paper to hard assets like gold and silver.
There are always ads on TV to buy gold. I think it’s time I sold my Father’s early 1970’s 1 ounce Krugerrands, but never see where to sell them. Any advice other that a pawn shop? I live in Orange County, CA.
commodities like gold & silver are safe havens...
no point in having cash in savings accounts, money market accounts, etc... interest rates have collapsed and the dollar is worth is less everyday.
It’s good news if you own a bunch of gold and silver.
Just sayin’.
This economy is not good. It is not getting better. Not any time soon.
Silver and gold did not go up, the hyper-inflated dollar is seeing its value frittered away by Cloward-Piven levels of debt and fiat currency.
Back in October I bought several thousand dollars of silver at $15/oz and had to clear $17/oz for a profit after paying auction fees etc. I’m going to hang on because I remember when silver went to $50/oz before. If not I just have some insurance.
Gold has been hitting new all time highs for a long time now, measured in virtually every other foreign currency.
I’m amazed they’ve been able to keep a lid on the price as long as they have. I don’t know what the fair market value is, it seems to be all smoke and mirrors any more.
It can also just be a sign people bought into a scarcer commodity that evades inflation.
If inflation had not recently occurred and gold spiked, THAT would be the sign of which you speak.
——the U.S. dollar index slid 0.54 percent-——
Steve Forbes was saddened
The rise in the prices of gold and silver and I would think real estate is a predictor of coming inflation. The current debt additions are at 0 interest and are costless. The existing debt will be devalued by the inflation.
Meanwhile, the economy lives.
“We are running deficits that have no precedent ...”
What is this “we”, Kemosabe?