Ever since the world suffered a near collapse of its economic and financial system in 2008, investors around the globe have purchased physical gold in increasing volume. However, if you lived in the United States… the opposite is the case.
Not only did Americans purchase less gold, they ranked DEAD LAST on the planet.
From the SRSRocco Report:
Americans came in last place due to the wonderful job the FED and U.S. Treasury accomplished by totally bamboozling its citizens into believing the financial crisis was over and everything was now under control.
Of course the opposite is the case, but you wouldn’t know if you visited any of the typical large suburban “Restaurant Rows” in the states. It’s standing room only, especially on a Friday night. Why should Americans buy gold when they could drop a $100 bill at the Outback Steakhouse on Friday, $150 for attending a college football game on Saturday and another $250 for a NFL game on Sunday??
Times are good and Americans are spending fiat money hand over fist…. well, that is… until the next major financial crisis hits.
If we take a look at the chart below, we can see how every country-region in the world increased their physical gold investment from 2008 to 2013… except the United States:
The only region that purchased less gold than the U.S. last year was the Middle East. However, the change from 2008 to 2013 was still positive, while the United States declined. Below are the figures for the countries-regions shown above.
Physical Gold Investment 2008-2013 (mt – metric tons):
Middle East = (2008 – 28 mt) (2013 – 53 mt)
United States = (2008 – 79 mt) (2013 – 67 mt)
Turkey = (2008 – 57 mt) (2013 – 102 mt)
Thailand-Vietnam = (2008 – 139 mt) (2013 – 217 mt)
Europe = (2008 -243 mt) (2013 – 265 mt)
India = (2008 – 211 mt) (2013 – 312 mt)
China = (2008 – 76 mt) (2013 – 409 mt)
(figures from World Gold Council Full Year Gold Demand Trends)
The big three winners of increased physical gold investment from 2008 to 2013 are Turkey (+45 mt), India (+101 mt) and China (+333 mt). The United States wins the BRAIN-DEAD GOLD AWARD in the world for being the only country-region that stated a decline (-12mt) in overall physical gold investment during this same time period.
Lastly, I will be finally publishing my first paid report called THE U.S. GOLD MARKET REPORTin the next few weeks. It explains the dynamics of the U.S. Gold Market going back until 1981. There are over 25 chart and graphs included in the 38 page report.