The Golden Truth

Is The Consumer “Recovering?”

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Let’s breakdown the December trade deficit numbers released today.  For all of December, the trade deficit was $40.6 billion, roughly in-line with expectations and up $2.7 billion from November.  The media is already pointing to the fact that imports increased by $5.1 billon from December to November as the signal that the U.S. consumer has returned and the economy … Continue reading “Is The Consumer “Recovering?””

That Rush Into Gold/Silver You Hear Is Not Coming From The U.S.

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The gold rush mania that drives the price of gold to unbelievable price levels may well come from a global stampede into the world’s oldest currency that leaves the American hoi polloi left holding worthless U.S. monopoly paper and little else. The best part about the action the in metals is that CNBC/Wall St. Journal/et al … Continue reading “That Rush Into Gold/Silver You Hear Is Not Coming From The U.S.”

While The U.S. Prints And Spends, Russia Loads The Boat With Gold…

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This chart is sourced from Casey Research, Ed Steer’s Gold and Silver Daily.  The Russian Central Bank purchased another 600k ozs of gold in October (some is purchased on the open market, some is purchased from internal mining production).  I think the message of this chart, combined with China’s demure announcement about accumulating a lot … Continue reading “While The U.S. Prints And Spends, Russia Loads The Boat With Gold…”

Additional Thoughts: Look Out Below…Plus, Are Asian Silver Traders Taking On JP Morgan?

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Housing – Zillow was out with a report today in which – well, I’ll let the headline from the Housing Wire speak for itself: Home price depreciation to worsen market into 2011 Zillow’s catalyst for this is higher foreclosure liquidations based on current delinquencies and the high degree negative equity embedded across home ownership. They forecast a … Continue reading “Additional Thoughts: Look Out Below…Plus, Are Asian Silver Traders Taking On JP Morgan?”

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