Interestingly, as the public’s confidence has soared when it comes to banks and the overall stock market, commodity hedgers now have one of the more bullish postures based on their overall commodity positions.
….read more of Sentiment Trader’s article HERE
also:
Gold in the Age of Soaring Debt
by Frank Holmes
Ever wonder how much gold has ever been exhumed in the history of the world? The GFMS Gold Surveyestimates that the total amount is approximately 183,600 tonnes, or 5.9 billion ounces. If we take that figure and multiply it by the closing price on June 16, $1,181 per ounce, we find that the value of all gold comes within a nugget’s throw of $7 trillion.
This is an unfathomably large amount, to be sure, yet it pales in comparison to total global debt.
According to management consulting firm McKinsey & Company, the world now sits beneath a mountain of debt worth an astonishing $200 trillion. That’s greater than twice the global GDP, which is currently $75 trillion. If we were to distribute this amount equally to every man, woman and child on the face of the earth, we would each owe around $28,000.
More surprising is that if gold backed total global debt 100 percent, it would be valued at $33,900 per ounce.
Try convincing your gold dealer of this next time you want to sell a coin.
…….read the Rest of the Article HERE
More articles by Frank Holmes
- U.S. Economy Turns on the Afterburners-Is a Rate Hike Next?
- Breaking from the Gold Standard Had Disastrous Consequences
- Billions and Billions Pour into India and China
