what is Adrian stating? Simply at the end of Dec 2010, the new debt ceiling will be reached. The total money supply of M3 has calculated by J Williams of Shadowstats.com and others is around 14.3 trillion
dollars. Yes, it does mean that the usa government owes every usa dollar in existence to someone. And on top of that the future interest payments on the government at 600 billion dollars creates a situation
where the total federal debt outstrips all available money created into existence whether it is paper dollar bills or electronic digits. This is what is unsustainable!!!
And yes..this does not include private debt, state debt, municipality debts etc.
This is your food for thought for today.
In international circles, the Davos forum concentrated on the huge debt problems of Greece. Noriel Roubini piped in that it is Spain that is in deep trouble, far worse than Greece.
Both of these countries, I have detailed to you their troubles in previous commentaries. Here is the story from Europe (Davos)
Here are some figures which show expansion of the economy. There is no doubt that the stimulus money is showing up in various places:
Here are stories showing huge demand for gold coming from India and China:
As promised, here is the closing figures on the gold comex.
I hope that everyone has a great weekend and I will speak to you on Monday.
Expect violent activity on markets from now on. Do not pay much attention to CNBC as they are paid shills.
I will try and give a balanced picture as to what is happening in the financial world.
the gold comex: