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Davidowitz: US Economy Is Collapsing (Video)

Howard Davidowitz, an expert retail analyst, spoke with Yahoo! Finance about Walmart’s poor earnings report and what it indicates for the rest of the US economy.

“The economy is in a state of collapse… I think there’s a 50% chance we’ll be in a recession next year… That’s after spending $7 trillion dollars, printing trillions, and announcing we were brilliant to have done it… We’re in the tank, and by the way, our debt never goes away… We’ve spent all the money, we’ve borrowed all the money, and we’re in the tank…”

Watch the Interview Here

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Today’s Key Gold Headlines – 8/16/13

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A Roadmap to $3,000 Gold & $100 Silver

King World News published an interview with Citibank analyst Tom Fitzpatrick this week, outlining the technical reasons for why gold and silver may be setting up for a big rally in the near future. If Fitzpatrick is right, silver could lead the rally to record highs.

“Our bias has been that even though the down-move came a little bit deeper than expected, it was still a corrective move within the overall broad-based uptrend. And the recent action in the silver market has really started to support that.

Silver did a perfect 76.4% retracement of the entire 2008 to 2011 move. Last week silver had a ‘positive outside week,’ closing at the highs of the move effectively (see chart below). This strongly suggests that silver may push to the topside.”

Read the Full Interview Here

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Santelli Riled by Bogus Government Inflation Stats (Video)

Rick Santelli blew his top this week on CNBC as he got exasperated with a discussion about the eventual tapering of quantitative easing. A lot of people are getting tired of the same old story that tapering is just around the corner, only to find that a new set of data indicates it’s just not a good time yet.

“If they can’t figure out a way to continue the sugar buzz one way, they’re going to look at the PPI numbers and the CPI numbers and they’re gonna make the case that the old bogeyman of disinflation is in the closet… I don’t believe the government’s calculations… I don’t have better numbers, I have common sense… There’s a difference between real life and the government…”

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Today’s Key Gold Headlines – 8/15/13

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Mihir Dange: People Want to Own Physical Gold (Video)

In an interview on Bloomberg TV this week, Mihir Dange spoke about the unusual “backwardation” of the gold futures market happening right now and what that means for physical gold demand. If you want to learn more about what the gold futures market can tell us about physical gold, read this month’s Gold Letter.

“What that means right now is that there’s heavy demand for the physical, with the trading so cheap. China reported in the first half of the year they had 50% increase in consumption of gold… Our office tried to buy physical gold when it got down right around $1200 to $1250. It’s been 8 weeks, we still haven’t received our order of physical gold… There’s a huge run on physical right now. You’re seeing the prices now rally, you’re seeing people want to be involved in physical.”

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Why Are So Many Americans Fleeing the US Economy? (Video)

Fox Business spoke with Peter Schiff yesterday about the growing number of Americans renouncing their US citizenship because of onerous taxes and regulations. Most people probably can’t afford to renounce their citizenship, but they can buy gold and silver as a way of escaping the collapsing dollar.

“I think over time, more and more entrepreneurs, young people who want to make something of themselves and who find it a lot more difficult to do it here, because of their taxes and regulations – they’re going to want to leave. And I think a lot of Americans are going to want to get their money out of the US because of the inflation that I see coming and the weakness in the dollar.”

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Today’s Key Gold Headlines – 8/14/13

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Next Fed Chairman Will Bring Economic Ruin (Video)

Yesterday, Yahoo! Finance asked Peter Schiff who he would choose as the next Federal Reserve Chairman. Unsurprisingly, Peter does not believe any of the candidates have the integrity to do the right thing with the economy.

“The mandate [the Fed] needs to keep under control is sound currency, to preserve the value of our money… If it follows that mandate, then we’ll have prosperity, we’ll have lots of job creation, lots of economic growth. It’s when they try to fine tune the economy by playing around with interest rates and money supply that we have big problems in the economy.”

Watch the Full Interview Here

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Today’s Key Gold Headlines – 8/13/13

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