In 2013 the price of gold bullion lost 28 percent and closed near its low for the year. It was the first annual decline since 2000 and the worst since 1981. Gold ETFs experienced record redemptions, shrinking the funds 33 percent by year end, but they were the exception. Marcus Grubb, Managing Director of the World Gold Council, reported, “2013 has been a strong year for gold demand across sectors and geographies, with the exception of western ETF markets.” While investors were leaving ETFs, demand for gold jewelry, bars and coins was increasing, as were purchases by central banks. Globally, consumer demand increased 17 percent for gold jewelry and 28 percent for bars and coins.
October 17 was the fortieth anniversary of the oil embargo slapped on America by the Organization of Petroleum Exporting Countries (OPEC). That action changed the entire geopolitical map by taking the power from the United States and giving it to the Middle East. As a result of the embargo, America slid into a serious recession.
The dramatic contrast between the results of Obama’s policies and Reagan’s policies have already resolved the debate our current president is having talking to himself on his “economic tour.”
“Do not blame Caesar, blame the people of Rome who have so enthusiastically acclaimed and adored him and rejoiced in their loss of freedom and danced in his path and[...]
The Democratric Party controlled mainstream media reported the November unemployment report as “better than expected.” But in reality it showed that America is stumbling along into a second Great Depression under “Obamanomics”[...]