The Rapidly Approaching Layoff Tsunami

Tuesday, January 26, 2016
By Paul Martin

By: Andrew Hoffman
GoldSeek.com
Tuesday, 26 January 2016

By Andrew Hoffman

Well, I may not have had “much” to say yesterday, but I SURE DO TODAY! My god, have the “horrible headlines” multiplied in the past 24 hours (it’s early Tuesday morning), which the following two pictures summarize perfectly – in spades.

Yes, the Baltic Dry Index plunged 6% last week to a new all-time low, down a whopping 70% in the past five months. Meanwhile, the Shanghai Stock Exchange, despite yet another “record liquidity injection” by the PBOC, plunged 6.4% today alone – down 46% from June’s hyper-bubble top, as it sliced through August’s spike-bottom low of 2,850 like a hot knife through butter. The 10-year Treasury yield is back below 2.0% – “rate hike” and all; WTI crude plunged an astounding 8% yesterday alone, again, to below $30/bbl; whilst the PPT was routed in yesterday afternoon’s trading. And how about that? Yet again gold and silver prices rose. Not to mention, U.S. Mint gold and silver Eagle sales; which, based on early-year results, are on pace to set new annual records.

Meanwhile, junk – sorry, “high-yield” – bond spreads are not just screaming recession, but depression; as commodities continue to plumb four-decade lows; and currency markets continue their historic, freight train-like implosion. Yielding, I might add, surging gold prices – and subsequently, physical demand – across the planet; with prices in not just “third world” and “emerging market” nations surging, but “first world” nations like Japan, Canada, and Australia, where gold prices are just 12%-14% from their respective all-time highs. Putting it into perspective, if U.S. dollar-priced gold was just 12%-14% from its all-time high – which I assure you, it will be – it would be trading at $1,650-$1,700/oz!

The Rest…HERE

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