A few weeks ago, when discussing the unprecedented transfer of physical gold out London and other locations, and into comex gold vaults located under New York, we pointed out the truly unprecedented surge in US gold imports in the month of December, which confirmed the flood of metal into the US.
As it turns out, the explosion in gold imports - the result of growing skepticism in the financial system, concerns of future dollar weaponization (the current record gold price is the result of massive gold purchases by central banks in the aftermath of the Ukraine war), and to a lesser extent, tariff concerns - also had another, far more unexpected consequence: it crashed US GDP.
