Hey, hold off on those gold and silver investments – we have 216,000 new jobs! April fools, and the joke’s on us.

April 04, 2011 – Hey, hold off on those gold and silver investments – we have 216,000 new jobs! April fools, and the joke’s on us. And the joke is old hat.

Ask the 13.5 million who are on the books that can’t find work. Ask the other countless millions who have fallen through the cracks. Ask all of those holding down two or three minimum wage jobs just to feed their families.

The government keeps trying to convince us to look at the “recovery” through a microscope when a telescope is what we need. We placed the burden of fixing our economy on the back of the rest of the world but that mule is a lot more stubborn than Bernanke ever imagined.

Rather than drown in the flood of excess US liquidity nations everywhere have put up capital controls. And rather than let cheap US imports spur inflation they have been putting up trade barriers at the astounding rate of one per day according to Global Trade Alert, says the Wall Street Journal. The upshot of that is the most rapid decline in trade as a percentage of global GDP since the Great Depression.

But don’t expect our government to sit idly by and let that pesky rest of the world get away with it. Voters are going to demand the usual quick fix and politicians will oblige them with trade restrictions of our own – even though that has always backfired in the past.

Meanwhile, the Fed is going to have a hard time explaining why the economy doesn’t continue to limp along on its own when it pulls the plug on QE2 in June. Hints of QE3 are already being dropped.

Let’s sum that up. We implement trade restrictions and pump more money into a saturated market to counter declining trade. Exactly what helped precipitate the decline in trade in the first place.

We need to step back and look at what is really going on in the global community. The list of economic shocks is not getting any shorter, and most nations are still reeling. The few exceptions are not counting on currency to keep it that way.

The choice is yours. Fall for the joke and hold off on gold and silver investments, or follow the winners’ lead and secure your wealth in gold and silver.

Shannon King

Senior Staff Writer –

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