Ever since the world suffered a near collapse of its economic and financial system in 2008, investors around the globe have purchased physical gold in increasing volume. However, if you lived in the United States… the opposite is the case.
Not only did Americans purchase less gold, they ranked DEAD LAST on the planet. Americans came in last place due to the wonderful job the FED and U. S. Treasury accomplished by totally bamboozling its citizens into believing the financial crisis was over and everything was now under control.
Of course the opposite is the case, but you wouldn’t know if you visited any of the typical large suburban ‘Restaurant Row’ in the states. It’s standing room only, especially on a Friday night. Why should Americans buy gold when they could drop a $100 bill at the Outback Steakhouse on Friday, $150 for attending a college football game on Saturday and another $250 for a NFL game on Sunday??
Times are good and Americans are spending fiat money hand over fist…. well, that is… until the next major financial crisis hits.
This post was published at SRSrocco Report on October 13, 2014.
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