Eric King: “Dr. Roberts, we’ve seen Goldman Sachs reiterate their call for $1,050 gold, which has facilitated the smash on gold today. This comes on the anniversary of last year’s $200 two-day smash in gold. But Goldman is claiming gold will decline because the U.S. economy will accelerate in the second half of this year.”
Dr. Roberts: “The American economy is not going to boom because real consumer incomes have been falling, not rising. If there is no income growth then there is no credit growth either. So the U.S. economy is definitely not going to accelerate….
“I think this is just all part of keeping pressure off the dollar. This quantitative easing has done nothing for the U.S. economy except hurt it because it’s deprived everyone of interest income. This lack of interest income has caused a consumption of savings from the elderly. This is very detrimental for these people and detrimental for their heirs as well.
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