The Dallas Fed admitted Monday that the US is definitely in a recession stating oil prices are a symptom but not the cause.
Ex Dallas Fed President Richard Fisher warned us on Jan. 5, 2016 that “the Fed front loaded an enormous market rally in order to create a wealth effect.” His comments are referring to the Fed’s quantitative easing program that created stock market gains and massive US debt, from late 2008 to late 2015. In other words, gains were artificially produced and the real US economy had nothing to do with it.
Throughout the period of QE, global banks made asset purchases to the amount of $12.3 Trillion dollars that made the “too big to fail banks” larger and even more dangerous.
The Dallas Fed said that manufacturing across the board has flat lined with heavy losses due to out sourcing to China. The US currently has a trade deficit of more than $365 Billion dollars with China alone proving US jobs are being destroyed by Washington’s actions. China is only smart enough to capitalize on Washington’s stupidity.
Global debt stands around $60 Trillion dollars and this figure doesn’t include derivatives that are a ticking time bomb. For investors fortunate enough to hold government debt, or not, they are yielding a cool 0 percent or less.
Global economies are sinking and central banks can only print more money, creating more debt and destruction for working class citizens.
Indeed we are in a recession but in reality recession is just a polite way of saying Depression. It’s here!
It’s time to protect our wealth with real physical gold and silver and we can even own it in our IRA or other qualified retirement account.
Give us a call at 1-800-577-3195 to begin the process.
Gold Goliath is not your typical gold dealer.