As markets herald the slap on the wrist rate hike by our own Fed, which by the way actually means nothing, politicians blindly stumble down the same path.We are broke and denying this doesn’t make it not so.
Gold prices are up in US trading Friday erasing yesterday’s losses after the Fed increased rates by a quarter of a percentage point on Wednesday. The horse and pony show of course moved the dollar to a two week high against a basket of other failing currencies. Gold last reported a.m. is $1058.00 and silver is $13.85.
Gold is down 10 percent this year and silver is down 7 percent even while demand for physical precious metals sets record after record. It appears the natural law of supply and demand no longer holds relevance in an era of fictitious stock markets.
We believe gold and silver will remain available well below production costs in 2016 as long as we don’t see catastrophic global events. For now, the “gold fix crews” at COMEX and LBMA have no reason to end their charade of selling gold and silver that doesn’t exist. Remember, physical precious metals are selling at record levels at a time when investor returns are non-existent. Apparently, investors still reject the ‘all is well” hype from our distinguished leaders.
To combat our reckless national spending, Congress is preparing to spend another $680 billion and not one dime of this will be funded by budget cuts. While the GOP abhors taking on more debt, at least in their speeches, they ignore common sense and fall in line with democrats who applaud the new measures.
If stupidity alone sinks a nation, we are sunk. This is the very reason investors are protecting their wealth with precious metals. When economies fail, gold and silver come to power in a big way and debt has guaranteed their return.
Give us a call at 1-800-577-3195 to begin the process of wealth preservation.
Gold Goliath is not your typical gold dealer.