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The third quarter Gross Domestic Product number released on Friday shows that the U.S. economy grew at its fasted pace in two years. Economists were looking for at 2.5 percent gain and the report showed a hefty 2.9 percent gain.
Sounds wonderful, right?
How solid is Italy’s banking system? If Italy fails, does it take the rest of the EU with it?
A great strategy, destined to fail.
Two Fed president speeches are on tap this evening, as investors await any clue on the possibility of a future rate hike.
Did you know that the global debt has reached $152 trillion dollars up from $112 trillion just 4 years ago?
And many economists around the globe are saying the global debt crisis has reached a dangerous phase.
So how strong is the dollar and what will keep it as the premier world currency? I believe that real monetary reform will only come after the damage is done. See what Ronald Reagan had to say about the gold standard and more.
If we look at October and November open interest, we see small quantities as these two months are not considered big delivery months. December will be the next big delivery month and, as of Thursday morning, December showed an open interest figure of 394,226 contracts equaling 39,422,600 troy ounces of gold.
What does the U.S. have to back up the dollar? Just its good will and its failing government policies. Unless we fix the problems here with the uncontrollable debt, entitlements and healthcare, China will pass us up as if we are standing still.
Let me share why I’m not a big fan of Gold or Silver mining stocks. Why would I? I'm a bullion guy.
When the public loses faith in the financial system, which is associated with deflation, panic ensues and people turn to hard assets like gold. So, gold is a reflection of the overall faith or lack of, in the economic and political system.
When this equity bubble bursts, will gold get a boost or will the price of gold suffer the same fate as equities as higher interest rates boost the dollar and crush the price of gold. Or will gold be the only safe haven investment?