ECONOMICS: Dow drops 666 points and posts its worst week since 2016
ANTICHRIST MAITREYA WILL ARRIVE ONTO THE WORLD SCENE SHORTLY AFTER THE ECONOMIC CRASH COMING
The Dow Jones industrial average plunged 2.5 percent Friday — closing down 666 points — and suffered its worst week in two years as concerns over rising interest rates and inflation from an overheated economy triggered a long-feared sell-off. It was the worst day for stocks since President Trump took office — and a stark reversal from the optimism that has propelled the markets higher for most of the past year.
The market has been on a historic nine-year bull run. The U.S. and world economies are so strong that people think the situation cannot last. Concerns were fueled by a Labor Department report that wages in January were 2.9 percent higher than a year ago and unemployment held at 4.1 percent. A tightening labor market sparked fears that interest rates will rise. READ MORE
Russian banks ramping up gold purchases at record pace
Russia is the largest gold buyer in the world, and purchases by Russian banks have increased substantially in recent years. Last year, Russian banks bought 205,155 tons of gold, which is 4.7 percent more than in 2016 (195.89 tons), and approximately 67 percent of all gold produced in Russia. This is also a 13 percent increase compared to 2013. The biggest buyers are VTB24, Sberbank and Gazprombank. All three banks have registered at the Shanghai precious metals exchange. In April, VTB announced plans to sell up to 100 tons of gold to China annually. READ MORE
This is not a money crisis
ReplyDeleteWe are being set up.
Must have all been on vacation or asleep at the fed.
ReplyDelete