Melman on Gold & Silver
August 2016 by Leonard MelmanIt is hard to imagine any month during the thirty years I have been writing this column which had more bombshell headlines than the past thirty days.
On a similar vein, while the number of new non-farm jobs created rose by a modest 156,000 in September, it must be pointed out that Goods Production Payrolls rose by only 10,000 jobs while much lower paying service jobs accounted for the other 146,000.
While gold’s chart has recently confirmed its short-term negative trend, the intermediate trend remains neutral while gold’s long-term chart is beginning to show some positive indications.
The extensive cost reductions now being put in place are not just a short-term reaction to the recent drop in gold prices...
Worried that the US dollar may not be good as gold, some Colorado lawmakers are pushing a bill to legalize gold and silver coins as usable currency.
One of the oldest sayings we all learned as children was “Water, water, everywhere, but not a drop to drink.” Following developments during the past month, we might rephrase that as “Questions, questions, everywhere, but not an answer to truly trust.”
That is one of the problems with much of the so-called objective information we regularly receive—it is so tinged with partisanship that much of it can barely be believed...
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