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John Williams continues:


“There has been no change in the underlying fundamentals.  There is nothing that would support a sustainable turnaround in retail sales, personal consumption or in general economic activity.  There is no recovery, just general bottom-bouncing.  Accordingly, real retail sales levels in the months ahead should become increasingly negative.”

Inflation update:  “The SGS-Alternate Consumer Inflation Measure, which reverses gimmicked changes to official CPI reporting methodologies back to 1980, eased to about 10.5% (10.48% for those using the extra digit) in January 2012, from about 10.6% in December 2011.”

Gold and Silver:  “Despite the September 5, 2011 historic-high gold price of $1,895.00 per troy ounce, and despite the multi-decade-high silver price of $48.70 per troy ounce, gold and silver prices have yet to re-hit their 1980 historic levels, adjusted for inflation.  The earlier all-time high of $850.00 of January 21, 1980 would be $2,476 per troy ounce, based on January 2012 CPI-U-adjusted dollars, $8,890 per troy ounce based on SGS-Alternate-CPI-adjusted dollars. 

In like manner, the all-time high price for silver in January 1980 of $49.45 per troy ounce still has not been hit since 1980, including in terms of inflation-adjusted dollars.  Based on January 2012 CPI-U inflation, the 1980 silver price peak would be $144 per troy ounce and would be $517 per troy ounce in terms of SGS-Alternate-CPI-adjusted dollars.

The increases in gold and silver prices have compensated for more than the loss of the purchasing power of the U.S. dollar as reflected by CPI inflation, while it has effectively fully compensated for the loss of purchasing power of the dollar based on the SGS-Alternate Consumer Price Measure.”

The above was just a small portion of another top shelf report by John Williams of Shadowstats.


To subscribe to ShadowStats CLICK HERE.


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Eric King

KingWorldNews.com

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