Author Archive: GoldSilverWorlds
Gold was pummelled overnight in Asia when a very large sell trade just after the market opened led to further selling throughout the session and this weakness continued in London this morning. Gold is now at its lowest level in 3 years. Somewhat positive U.S. economic data has again lifted stock markets and speculation that the Fed may decrease its QE over the next few months may be pressuring gold. However, these factors do not justify the scale of gold’s fall.
The point is very simple: US Silver Eagles are in very high demand, whether looking at yearly of half yearly sales figures, or comparing it with the Gold Eagle sales. The most plausible explanation for this trend is that people (retail investors) realize the dangers and severity of this crisis, and seek some form of “safety”. Silver being “poor man’s gold” is more affordable to the retail public.
$16 trillion. $16,015,769,788,215.80 to be exact. That’s the amount that the US government’s national debt stood at as of last Friday, as it crossed into the $16 trillion-mark for the first time ever. ZeroHedge points out that this amounts to 102% of US GDP – up from just 76.5% when President Obama took office in January 2009. A collapse in federal tax revenue is of course the standout reason for this surge in debt (Washington’s spending has increased modestly in comparison with previous decades, and looks no different from increases seen during Bush junior’s years in the White House). Regardless of the reason, it spells trouble for the USA, and this is […]