The US owes the world 453,000 tonnes of gold which is almost 3 times all the gold ever produced in history. Whilst market observers worry about what the Fed will do next or the health bill, nobody sees that the the US is on the way to total ruin by running budget deficits for over half a century and trade deficits for over 40 years. It seems that the US economy is walking on water, and this opinion is fuelled by seasoned commentators like Ambrose Evans-Pritchard in the UK’s daily The Telegraph. In a recent article, he uses selective data to prove that “The American strategic decline is a myth”. So here is another journalist who falls for manipulated statistics and focuses on the wrong things. For example, it definitely is not a proof of a strong economy that the Americans buy an enormous number of new cars which they don’t need. Especially since they do it with subsidised credit, leading to massive bad debts that will never be repaid. Nor are the deficits, falling wag...
from GoldBroker.com https://www.goldbroker.com/news/the-us-owes-the-world-3x-the-gold-ever-produced-1104
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