Credit Crunch All Over Again!

By Bill Holter – Re-Blogged From http://www.Gold-Eagle.com

It smells like crunch time to me, the markets have flattened or begun to even roll over on continuously decreasing volume.  The economy has also turned down all over the world including in China.  Europe is contracting, Britain has finally figured out their finances are FUBAR and the U.S. would not show growth if not for the biggest inventory build in history.  Oil tankers are sitting idle (and full) all over the world, is this a sign of “recovery” or of stagnation.  The Baltic Dry index is plumbing news, this would be a sign of what?  When I wrote crunch time above, I should have clarified, it looks “credit” crunch time and this time there is no white knight to save the day.

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It’s Ugly If You Look Under The Hood

My plan for today was to write a very basic piece hitched to the one written yesterday “the money has to go somewhere”.  The plan was to point out that gold (and silver) will be the final destination for monies dislodged from crashing markets all over the world.  Along came the Q1 figures for U.S. GDP, a disaster on many levels.  So switching gears, let’s look at the first quarter, how quickly the economy has deteriorated and what it means in the future and in relation to the past.  I do plan to tie this together at the end because no matter how you look at it, gold is a magnet for what will be shaken loose.

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