America's total debt is expected to exceed $14 trillion next year. Each American's share of that debt totals just short of $50,000. If Fedzilla was honest and put all the figures on the table, we are in debt over $100 trillion due to the unfunded financial obligations for Social Security, Medicare and Medicaid.
As Jim suggests, an excellent economic observation from Ted (The Sledge) Nuggent. Actually, if all the "debt cards" were laid on the table the real burden would be far greater than anyone would be willing to recognize at least from a public perspective.
Unfortunately, any sentence that starts enormous debt burden of the US and western world and ends with buy gold is still a first class ticket to the lunatic fringe. Nobody wants to be associated with the lunatic fringe. Thus, it's deer in headlights for most investors during the dips.
Connected money is still covering their short positions into weakness. This is not subjective opinion but rather fact. This is reflected by WA reading above 80%. In other words, the change in composition of contracts is significant (not to be ignored). While the gold market will be “pressed” as long as possible, it will change direction when time is up.
One simple rule: FOLLOW THE MONEY!
Gold London P.M Fixed and the Commercial Traders COT Futures and Options Stochastic Weighted Average of Net Long As A % of Open Interest:
Source humanevents.com
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