Nailed it again.
The price of copper is the tell-tale sign of an economy. When the price is up, it means manufacturing is up because of demand. With that said, Shanghai Copper is down 4.6%, hitting fresh cycle lows not seen since March 2009 as China’s slowing economy erodes demand.
Global Gold Demand
According to Egon von Greyerz, “there is now a massive divergence between physical gold demand and paper gold supply.” In the U.S., demand for gold eagles is up 200% year-over-year and the World Gold Council announced that global coin demand is the highest it has been in five years. Gee, what could cause such panic buying?
1928 and Today
Here are four facts comparing 1928 and now…
1. In 1928, the national debt was $17.6 billion. Today it is $18.6 trillion — over one thousand times more.
2. In 1928…
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