An ounce of gold, roughly the amount found in a 1932 $20-face-value Double Eagle gold coin, is now almost $2,000. That reflects a 99% devaluation of the dollar.
A hard landing is the base-case scenario. Why trust the Fed when it has failed to see every major recession coming, even when it's the one creating each recession?
There is more than one way for the U.S. to default. Gold may be the last refuge when banks and investors decide that Treasury debt is anything but “risk free.”
"Gold...which I’ve recommended...people consider giving some respect to as a safe haven, has also breached a critical sentiment barrier by hitting $2,000."
As expectations build for the Fed to throw in the towel on its inflation fight, there’s a good chance the ceiling on precious metals prices will soon be lifted.
If you listen to those who only go by GDP and jobs, then the economy is strong, but by many other ways of viewing the economy, it is weak and cracking all over the place.
