The world is in danger of a super spike in the price of oil that would create even more inflation. This would of course be extremely bullish for the gold and silver markets.

November 22 (King World News) – Gerald Celente:  According to Bloomberg, since the beginning of the COVID War, 80 percent of Americans have drained their savings and have less cash than they had before the “pandemic” started. 

Not only are the plantation workers of Slavelandia feeling it in their pocket, it’s also hitting the retail sector. Indeed, from luxury to discount, as we have been reported, retail chain sales are slumping. 

Today American Eagle Outfitters stock (as we go to press) slumped 17 percent after reporting lower than expected sales for the last quarter and a dim outlook for the holiday season. Abercrombie & Fitch, Best Buy, Lowe’s, Kohl’s, and Target have all cut their sales forecasts for fourth quarter sales.

They Are Lying About Inflation
The National Retail Federation predicts that holiday sales will increase around 4 percent this year. However, that number is not adjusted for inflation. With core inflation at around 4 percent, the sales will be flat at best. However, when putting in the real inflation number, according to Shadowstats rates, inflation is actually double the “official” number. And by the expected weak holiday sales, consumers are feeling it in their pocket. 

Indeed, while the claims that inflation is falling, the reality is that wages, as we have been reporting, are not keeping up with inflation and the CPI numbers are rigged since they were reformulated, thus the inflation rate is much higher than what is “officially” being reported. As Investopedia notes:

Over the years, the methodology used to calculate the CPI has undergone numerous revisions. According to the BLS, the changes removed biases that caused the CPI to overstate the inflation rate. The new methodology takes into account changes in the quality of goods and substitution. Substitution, the change in purchases by consumers in response to price changes, changes the relative weighting of the goods in the basket.

The overall result tends to be a lower CPI. However, critics view the methodological changes and the switch from a COGI to a COLI as a purposeful manipulation that allows the U.S. government to report a lower CPI.

With less money to spend and interest rates still high, today it was reported that home sales in October in the U.S. were down 14.6 percent from year over year.  Yet, according to the National Association of Realtors, the median price for an existing home sold in October was $391,800…up 3.4 percent from a year ago ($378,800). Inflation is not going down: With supply down, some 28 percent of homes sold above their list price.

But here we are with home prices spiking, they are not added into the rigged CPI numbers. According to the Congressional Research Service; “Despite the heft of the housing category in the calculation of the CPI, BLS does not include housing units (i.e., the actual buildings) in the CPI market basket.

TREND FORECAST:
From Asia to the EU, from developed to underdeveloped countries, economies—as we detail in this and previous Trends Journals—are slumping and/or sinking into recession.  As we had forecast when consumer spending in the service sectors was climbing during the summer season in the Northern Hemisphere, the people were in a summer state of mind and wanted to have a good time… but across the manufacturing spectrum, the numbers were in negative territory. Thus, the reality had already hit that consumers would be buying less retail products. 

Now with the Israel War raging and it spreading to Lebanon and Syria, should Israel and the United States engage in a military confrontation with Iran, Brent Crude will spike to above $130 per barrel… which in turn will crash equity markets and the global economy.  

TREND FORECAST:
While the minutes released today of the recent Federal Reserve meeting suggest that they will not be cutting interest rates anytime soon if inflation remains well above their 2 percent goal that they made up in 2012, we disagree.

Again, with signals for a slowdown in consumer spending—which accounts for nearly 70 percent of U.S. GDP—we forecast the Fed will hold interest rates where they are and begin to lower them in the run-up to the 2024 race to the White House. Indeed, with the former Fed Head Janet Yellen now playing the role as U.S. Treasury Secretary, it is clear that the Bankster Bandits are running the U.S. money game and they will do all they can to stay in power. 

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To listen to Alasdair Macleod discuss available physical gold disappearing off the market, and the coming storm that is already beginning to ignite the gold and silver markets CLICK HERE OR ON THE IMAGE BELOW.

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