Gold today and some news worth a view.
Where is gold going to head? Everyone wants to know and everyone has an opinion.
Today gold is moving higher with the dollar of all things. As I write it’s at $1,119.00 an ounce according to the free real time tracker ExactPrice. You can see the current price in the right column web widget.
You need to check out the chart on The Prudent Investor’s blog: CHART OF THE DAY: US per Capita Debt and GDP Growth. It’s pretty scary.
Finally check out these two items:
Foreign holdings of U.S. treasuries fell by a whopping $53 billion in December, the largest amount ever.
This was mostly due to China and Japan cutting back their positions by $34.2 billion and $11.5 billion respectively.
The funny thing is that the last time the U.S. suffered a drop in demand anything near this, was right before a substantial rally for stocks. Perhaps it’s because markets discovered that U.S. government policy tends to favor protecting stock market investors over government bond investors.
And here is proof to me that the government intervention and nationalization of banks and business is doomed to enslave us to debt.
The Census Bureau wasted millions of dollars in preparation for its 2010 population count, including thousands of temporary employees who picked up $300 checks without performing work and others who overbilled for travel costs.
Federal investigators caution the excessive charges could multiply once the $15 billion headcount begins in earnest next month unless the agency imposes tighter spending controls, according to excerpts of a forthcoming audit obtained by The Associated Press.