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China has the world’s largest debt at $40 trillion from 30 years of deficit financing its industrial growth. According to some analysts, China’s banks cannot withstand a downturn because it would expose trillions of dollars in bad debt. Now China is being prompted (Wall Street Journal) to return to stimulative policies because of slowing rates
Gold pushed at $1240 today (spot market) as the Dow Jones Industrials were down 800 points in early trading after closing down 800 points Tuesday. Stock markets were closed Wednesday in honor of President George H. W. Bush’s passing.
Worldwide demand for gold rose 6.2 tons year-over-year in Q3, led by robust central bank buying of 148.4 tons, the highest level of quarterly new purchases since 2015, reports the World Gold Council. Bar and coin demand by individual investors climbed 298 tons.
The housing market is one of the leading indicators of economic activity, and the US market is suffering its longest slump in four years. Sales of previously owned homes fell 3.4% in September from August and were down 4.1% from last year, for the seventh straight month of declines.
As silver continues to touch new lows, bearish reports abound. One called it the worst investment ever. Really? The reasons to buy silver lie neither in the metal itself nor its many industrial and medical applications. Silver should be bought because it — along with gold – has for millennia been proven to be safe
Silver has hit $50 twice in my 45 years in precious metals bullion business, January 1980 and April 2011. Both times would have been excellent times to have sold. I did not see either and was not a seller. What will be the right move the next time silver hits $50, sell or hold?
Alan Greenspan, Federal Reserve chairman 1987 – 2006, says unfunded entitlement programs are the biggest threat to the dollar. Before discussing how to rectify this problem, consider just how big this problem is.
So I think now of all times this is a good time to have a large allocation to metals, really for the first time in many years. — Jared Dilllian, The Daily Dirtnap, August 1, 2018.
The history of paper money is that it is printed until it is worthless. The Zimbabwe dollar is the perfect example.
“The great financial crisis of 2007/08 will be eclipsed. In a nutshell, this time the quantity of new money required will likely lead to the destruction of the “full faith and credit” in the currencies themselves, which until now has been broadly unquestioned by ordinary members of the public.” — Alasdair Macleod
