The Bank of Canada raised interest rates by 0.25% stating that the Canadian economy is strong. They are not stating that Canadians are more indebted than ever and that the national debt is higher than ever. In fact they do state that the rate hike is going to negatively impact Canadian’s spending habits. Canadians will be contributing to the economy less as a result of the hike. Here is the Toronto Star’s report from the Bank of Canada.
David Stockman, former Reagan White House Budget Director declares “Gold is the only safe asset left” on his recent interview on www.USAwatchdog.com. In the interview Stockman discusses gold as the “ultimate and only real money”. That the Trump tax cuts will lead to a ‘fiscal calamity of biblical proportions’, and that ‘people will flee the stock and bond markets in favour of gold and silver’.