Bloomberg/Tim Duy/4-7-2020
“That bounce, however, won’t be a full recovery. There are two broad obstacles to a V-shaped recovery. First, expect some persistent damage to the economy as the result of firms going bankrupt and the severing of employer-employee relationships. The CARES Act, with its enhanced unemployment benefits and aid to business, helps minimize this damage, but it remains insufficient to stem all the bleeding.”
USAGOLD note: Oregon University economist Tim Duy addresses objectively the questions on many investors’ minds as we move deeper into the fourth month of this crisis – which now seems like it has been with us for years, not months.
“The latest published numbers show record stocks of 8,326 tonnes of gold in London, which is equivalent to 666,045 standard 400-ounce gold bars, according to the LBMA, which oversees the London trade hub. 
