{"id":54661,"date":"2020-08-14T17:19:51","date_gmt":"2020-08-14T22:19:51","guid":{"rendered":"https:\/\/olduvai.ca\/?p=54661"},"modified":"2020-08-14T17:19:51","modified_gmt":"2020-08-14T22:19:51","slug":"massive-surge-in-u-s-gold-imports-signals-big-trouble-ahead-for-the-financial-system","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=54661","title":{"rendered":"Massive Surge In U.S. Gold Imports Signals BIG TROUBLE Ahead For The Financial System"},"content":{"rendered":"
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Massive Surge In U.S. Gold Imports Signals BIG TROUBLE Ahead For The Financial System<\/a><\/h3>\n<\/header>\n
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The U.S. imported a record amount of gold bullion in April during the global contagion and shutdown of many economies.\u00a0 The United States imported more gold in April than it did during all of last year.\u00a0 A lot of the gold imported into the U.S. was due to delivery issues, as many of the large gold refineries were shut down.<\/p>\n

While the huge surge in U.S. gold bullion imports during April was mainly due to supply disruptions, it\u2019s an IMPORTANT SIGNAL that all is not well in the Global Financial System.\u00a0<\/strong>\u00a0The panic to get more gold to the U.S. exchanges suggests that there is way too much paper gold leverage in the system.<\/p>\n

The highly leveraged gold trading system has worked fine for decades due to an important factor not considered by most in the precious metals community\u2026 and that\u2019s rising global oil production.\u00a0 Let me explain.\u00a0 World GDP growth is tied to global oil production growth\u2026 PERIOD.\u00a0 While a few other analysts and I have made this point, Jean-Marc Jancovici explained this to a large group of the OECD.<\/p>\n

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Total world oil consumption on a three-year average corresponding closely to total world GDP per capita on a three-year average.<\/strong>\u00a0 While investors may deny this relationship, do so at your peril.<\/p>\n

Because the world has been able to add 1-2% of new global oil production on average each year, except for the down-turns, the highly leveraged Financial Ponzi Scheme can continue to grow and expand.\u00a0\u00a0However, when global oil production stops increasing on an annual basis, then global GDP growth is DEAD for good.\u00a0 And, I mean it.<\/strong><\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Massive Surge In U.S. Gold Imports Signals BIG TROUBLE Ahead For The Financial System The U.S. imported a record amount of gold bullion in April during the global contagion and shutdown of many economies.\u00a0 The United States imported more gold in April than it did during all of last year.\u00a0 A lot of the gold […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[374,595,1616,647,12073,827,30176],"class_list":["post-54661","post","type-post","status-publish","format-standard","hentry","category-economics","tag-gold","tag-oil-production","tag-ponzi-scheme","tag-precious-metals","tag-srsrocco-report","tag-united-states","tag-us-gold-imports"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/54661","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=54661"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/54661\/revisions"}],"predecessor-version":[{"id":54662,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/54661\/revisions\/54662"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=54661"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=54661"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=54661"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}