Volcanic Gold Demand
In the last three weeks alone, Chinese wholesale gold demand has surpassed 165 tons. Now, why would the Chinese be buying something that the price has been suppressed err… going down? Could the newest reason be because Alan Greenspan essentially said that Quantitative Easy failed to help the economy?
Officials at the European Central Bank say 13 of the 130 largest banks flunked an in-depth stress test, that was based on theory and not reality. The test revealed that under ‘PERFECT’ conditions that EU banks still face a capital shortfall.
If you believe the media pundits and politicians, we have very little inflation unless one buys butter, beef, meat, fresh fruits, or whole milk. Those items have increased anywhere between 3 to 10 times that of the average hourly wage.
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