goldmoney.com / By Félix Moreno de la Cova / February 25, 2013
Despite recent headlines and a great deal of squawking over hints that the latest FOMC minutes heralded a slight (maybe) signal of more hawkish intentions from the Federal Reserve, January saw US M3 rising to almost $15.1 trillion. The Fear Index experienced little change, remaining steady at 2.89%. US government debt is approaching seven-times US government revenue – meaning that the US federal government spends almost 15% of its revenue on debt service, even at historically low interest rates.
It is easy to get caught up in the headlines and the short-term price action in the markets, but the way for cooler heads to prevail is to ignore the propaganda, the statements of intent and wishful thinking. Ignore the noise and focus on the data.
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