from The Daily Bell:
Gold on Track for Eighth Losing Session U.S. GDP data revision seen bolstering case for interest-rate increase … Gold prices edged lower Friday, on pace for an eighth straight losing session, amid mounting evidence of improving economic growth in the U.S. that would strengthen the case for an interest-rate increase. –Wall Street Journal
Gold went up by 16 percent in the first quarter of 2016 and kept on moving even afterward for a total of 20%. Investors are nervous about the economy and the first quarter’s results reflected those nerves with a rise in gold.
Since then it’s moved down some 6% as Janet Yellen has counterattacked with vaguely worded suggestions that the Fed might hike rates again.
As we pointed out in a recent article, the idea that the US economy is on an upswing seems difficult to believe.
The US owes something like $200 TRILLION if one includes Social Security and other outflows going forward.
Meanwhile some 100 million individuals including young people and seniors are not working in mainstream jobs or not working at all.
Our perspective on the US and the world economy is summed up by a top executive for the Bank for International Settlements, William White.
Speaking some months ago, he was quoted by the UK Telegraph as saying that nothing less than a worldwide debt jubilee would bring back global solvency.
from SGTreport - The Corporate Propaganda Antidote - Silver, Gold, Truth, Liberty, & Freedom http://ift.tt/20NacJL
