The US dollar continues to tumble sending the price of gold back above $2,000, but here is the really big problem.
BIG PROBLEM: Printing Our Way To Prosperity
August 18 (King World News) – Peter Boockvar: Randy Forsyth in the weekend Barron’s quoted numbers from Stephanie Pomboy of Macromavens in quantifying those government checks. “A $680 billion decline in wages and salaries and a $174 billion drop in other income was more than offset by $2.24 Trillion in transfer payments…for a net income gain of $1.386 Trillion.” This helps to explain why consumer spending is higher in the middle of a pandemic than when it was when the unemployment rate was at 3.5% and why without it will have a profound economic impact if not refilled to some extent. Which I’m sure it will…
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stake in click here or on the image below
Weaker US Dollar: Higher Gold Price & More Inflation
The US dollar is further breaking down to the weakest level since May 2018. This is happening even though the Fed’s balance sheet stopped growing and is where it was 3 months ago and I continue to believe part of this is in response to the exploding US deficits.
US Dollar Continues To Hit Fresh New Lows
If this continues it will just add to the inflation pressures as we import much more than we export and to go one step further, as the largest debtor nation in the world, at what point do foreigners take their money elsewhere? Gold in response is back above $2000.
2020 CHART OF THE YEAR
***ALSO JUST RELEASED: 2020 CHART OF THE YEAR: Wow! What A Chart! Plus Bank Of Japan “All-In” With Its Big Gamble. What Depression? Inflation Anyone? CLICK HERE.
***To listen to Gerald Celente discuss his warning of “hell on earth,” plus gold, silver, major markets, and much more click here or on the image below.
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