Confidence has been shaken a lot in recent years. When it finally breaks, investors may want to be out of the way. Confidence is the intangible force helping to hold markets up.
According to one economist touted in headlines: In the face of instability, it's nice to know of the U.S. “world’s best economic recovery” with a landing “so soft” there's no need of ever landing at all!
No one can say for sure how deeply gold will correct before it turns to embark on a spectacular run-up, but I wouldn’t be surprised to see it take out October’s lows near $1600.
What perplexes us is placing a proper valuation on Bitcoin versus its price. We know ad nauseum that Gold today is priced at basically one-half its dollar debasement.
Hemingway's novel The Sun Also Rises has a line that’s now a familiar quote: “How did you go bankrupt? Two ways: Gradually and then suddenly.” Thus goes the United States.
Chinese gold-backed exchange-traded products added 10 tons to their holdings. And the People’s Bank of China increased its gold reserves by a whopping 225 tons.
We’re talking in today’s report about fake real GDP that did not have enough inflation taken out of it to show what really happened in US production last quarter.
