Liars, Wall Street & Your Gold - Interesting Editorial - Guy Knows his Stuff
Few seem to remember that Wall Street is not a non-profit community driven by altruism or any sense of service. They would gladly cheat you out of your entire life savings if their actions were legal, or at least not prosecuted. In the last two to three years, the lies, deception, misdirection, false reporting, corruption, and grand fraud will be the topic of historical accounts for decades. When returning on my flights from another successful Cambridge House gold conference, this in Calgary Alberta, many thoughts came to mind, jotted down while gazing at the natural beauty made up from cloud blankets with a sun guarding its lot. The sun and clouds care not at all about economic landscapes underneath, even if in turmoil. Whenever travels take me across national borders, nationalism, idealism, culture, and dreams come to mind. It seems pursuit of truth, clarity, and integrity has become negotiable, one and all in the United States. Its people are being stripped of so much. Perhaps this layout will be helpful. Routinely such matters are covered in the Hat Trick Letter reports. Gold & silver continue to do well to protect individuals and their wealth. Banks are no longer safe, an astonishing conclusion. Bonds are not safe, and neither are money market funds!!!
USGOVT ECONOMIC STATISTICS
It all starts with outright doctoring on a chronic basis by the USGovt, to the point that the vast majority understands and accepts the practice. Therein lies the foundation for the system extending the institutionalized dishonesty of the nation, carried further by Wall Street as it endorses the doctored statistics routinely. The fish rots from the head down, Wall Street being the blood system, the economy the torso. Put your full faith in accurate economic statistical gathering with the Shadow Govt Statistics crew led by John Williams. No, not the man of Boston Pops musical fame, the other guy. The Gross Domestic Product has been running negative in growth except for a couple quarters five or six years ago, now about minus 2.3% or so. The Consumer Price Index has been accelerating lately, now at 11.8% and still climbing. People do eat food, and people do require energy, so please no need to remove them from calculations. The unemployment rate has been also rising lately, now at 9.8% or so. If out of work, then unemployed, that simple, so no need to talk about participation or discouraged workers by the goofy methods in the Bureau of Labor Statistics. The Birth-Death Model is another colossal fraud. Good thing few know what it is. The lies can choke a horse. Motive is clear, to present a picture of strength to sell stocks and government bonds. If the real CPI was widely known to be over 10%, both USTreasurys would suffer declines and gold would be pushed to the heavens.
USDOLLAR REBOUNDING... NOT !!!
The USDollar has been trying to rebound for a month. Past USDollar charts offered in my analysis have entirely focused upon weekly charts. The daily chart over just the past six months is highly revealing. In the last two months, the 20-day moving average has served as stiff upside resistance. The stochastix show difficulty in staying above the 50 midline, a sign of weakness in the rebound attempt. With growing federal deficits, widening trade deficits, an underwater banking capital core, and rising homeowner negative equity, the US financial fundamentals resemble a banana republic on four primary pillars, unworthy of any currency rebound. The pair of 20-day and 50-day moving averages are still declining. Look for a breakdown to 70 and below in the next several weeks. The downtrend is stronger than any newly formed basis for a bottom bounce. The impact on gold will be to send it over the 1000 level again, this time as floor support for the summer advances. The next USFed rate cut could be the impetus. A game of chicken is being played by the Euro Central Bank, which refused to cut rates since last summer.
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