Soaring Gold and Silver Prices Reflect Intensifying
Investor Concerns for Inflation Risk and Systemic Instabilities

Rising Gold Prices Suggest Central Banks and Treasury Departments
Are Not Doing Their Jobs; Any Related Market-Dampening
Interventions Should Prove to Be Short-Lived

Annual Growth in June 2020 Money Supply Measures Set Record Highs;
Consider That June Money Supply M1 Year-to-Year Growth Hit 37%

June 2020 Financial-Weighted U.S. Dollar Just Turned Negative Year-to-Year

July 30th Second-Quarter 2020 Gross Domestic Product Initial Reporting
Should Show Unprecedented, Annualized Real Contraction of About 50% (-50%)

Consensus Forecasts Are Centering on a More-Modest Record Plunge of 35% (-35%),
Yet, Bottom Bouncing Headlines for Some April and May Numbers Were Not Reliable

June and July Reopening Instabilities Threaten Hopes for a Meaningful, Nascent Upturn;
Protracted Recovery Likely Will Be L-Shaped, Not V-Shaped

First Full Second-Quarter 2020 Headline Reporting: Household Survey Employed
Plunged at an Annualized Quarterly Pace of 49.1% (-49.1%), as Corrected by the
Bureau of Labor Statistics for Continuing Misclassification Errors

May 2020 U.S. Trade Deficit Deepened Sharply, Signaling Second-Quarter GDP Trouble

Both Collapsing May Exports and Imports Signaled a Collapsing Global Economy