This week the US gov't Bureau of Labor and rigging of ongoing statistics collectively lied to everyone by claiming healthcare costs were down -34% year over yEAr.
Stock market bulls celebrated the delusional lower inflation lie rally, yet many damning fundamentals continue unabated.
More historically high gov't deficit spending and seemingly out-of-control debt levels are building.
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With a large amount of this debt maturing in the next year, all with elevated interest rates at the moment.
Inflation over the last almost 3 years has already fused into the system crushing the US consumer-driven economy.
Meanwhile, over the last nearly 3-year time span, we have seen the underlying once ballooned piles of both fractional gold and silver bullion piles backstopping the COMEX drawdown one-half and one-third respectively.
Data illustrates that much of this bullion has been getting sucked out of unsecured ETF piles to keep the leverage just in time physical delivery system propped up.
The good news is that the conscious US retail bullion buying sector has been getting after it this whole time, buying high levels of bullion relative to how tiny and overall population they are of the US investing public.
US Silver bullion investment demand is still strong, with bank failures propelling the year's demand
Global Silver Industrial Demand Forecast to Achieve New High in 2023
Global silver production set to fall in 2023 due to lower Mexican, Peruvian output
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For a bit more coverage on Indian gold bullion demand, here is Palki Sharma this week from Firstpost's YouTube channel
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All metals mined in 2022:
https://elements.visualcapitalist.com...
Both silver and gold showed strength, respectively, trading higher this week.
The spot silver price closed just under $24 oz bid price while the spot gold price closed just shy of $2000 oz bid price.
The spot gold-silver ratio dipped sharply on silver's outsized strength falling nearly five ounces to 83.
Before we get into the recent fifth US bank failure for the year. I would like to alert viewers out there that we kicked off Black Friday week ahead of time today with this low premium deal on silver bullion kilo bars. Visit
www.SDBullion.com/deals to get your share while supplies last.
Now onwards to yet another bankrupt bank, this one announced 11 days ago tied to leveraged collapsing economic bets coming undone.
Federal Government takes over failing Iowa bank:
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It was recently reported that US Banks took out more loans in this spring of 2023 than they did during the 2008 Global Financial Crisis.
Meanwhile, the supposed US Bank backstopping FDIC has less fractionally reserved cash than the hyper-leverage COMEX system has in supposed bullion for potential delivery.
The FDIC reportedly only has $117 billion to backstop all 4,622 US Banks and their currently estimated total of over $10.5 trillion in insured deposits.
There is an estimated nearly $7 trillion in uninsured deposits sitting in US Banks beyond the $250,000 per account insured threshold at the moment.
Reportedly over $1.4 trillion of that is sitting with recidivist criminal commercial bank JP Morgan. Good luck.
Lastly, having already lost over -92% of its stock price nominal value since the start of the year 2007, it was announced this week that mass layoffs at Citibank are starting next week, with up to one-tenth or nearly 24,000 employees getting eliminated.
Meanwhile, relative weakness in the fiat US dollar and coming future bank failures strongly suggest that more investors should begin allocating to bullion before it becomes more unaffordable and potentially unobtainable to do so in size at reasonable price points.
For in building bullion bull mania phase ahead, my strong suggestion is that the near $2000 oz gold consolidation we have been in will be looked back upon as a would have, could have, should have era.
That will be all for this week's SD Bullion Market Update.
As always, to you out there.
Take great care of yourselves and those you love.
