Gold slipped a bit todayIts time for a small setback . It seems like the hint of a trade deal with China spooked the gold market a bit . I'm going to use this opportunity to establish a position in Sandstorm . I would like to see this temporary weakness last into tax loss season , but I don't think it will be that long . No matter whom decides to trade with whom under whatever terms.
Theres still the huge , record setting debt that has been issued from every where in the planet . Most people and every government cannot face an interest rate hike because theres already years of deficits built into the budgets . Check out the US debt clock , theres about 20 trillion personal debt . Of this mortgage holders have 205,000 per , students 37,000 per , credit cards 6,700 per . Of the national debt each citizen owes another 225,000 against less than 10,000 per citizen savings . And thats not including unfunded liabilities which is 383,000 per citizen .
Clearly these debts can only be repaid by default or currency debasement , who knows how it will all end except it won't be pleasant .