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Originally posted by OBE1
Originally posted by Valorian
The world economy comes to a shuddering halt because finally oil has reached a price that cannot be handled. America moves into a sharp recession, followed by China and the rest of the world. The price of gold hits 1 000 US Dollars an ounce, whilst the oil price continues to oscillate around 150 US Dollars until the Iranian issue is settled one way or another. Stock markets together with commodity prices other than oil and gold plunge.
If you give decent odds to this scenario, it’s better to be in gold, bonds and cash and not in the stock market.
Yes I saw that, China is actually buying as much Gold and Silver reserves as it can. they are actually setting up dummy corps that allow anybody to borrow a capital amount to purchase Gold on their behalf, they will wire you the cash within 24 hours to go out and get them Gold....interesting
You may have noticed the under $24 US pop in gold yesterday thanks to strong physical demand, and a "religious experience" for the commercial shorts as they were forced to unwind a bit. I imagine Iran thumbing their nose at another UN deadline didn't hurt any...big surprise huh? I believe your $1000 Gold price is do-able this year. Personally, I'm long Gold & Silver...will continue to buy the dips....just hoping the volatility going forward doesn't have me wishing I'd stuck cholla spines in my eyes instead. lol!
China's signaling diversification of a percentage of it's foreign exchange reserves into non-US assets, including resources for strategic stockpiling ie. crude oil & minerals...a shield against potential supply disruptions..Hmmm! I believe this ultimately means a move towards a more flexible float and a weaker dollar. China has also been whispered to be 'stealth buyers' of Gold for some months now.
The pentagon leaks to the press that they can achieve the desired effect in Iran using conventional 250lb bunker busters (wink), at the same time Gates assures us we're not going in
We're entering a new cold war, nuclear proliferation in the Middle East is inevitable, global terrorism threatens, war and death in the ME rages on...and on top of all this...(the most watched story in America)...Brittany had to go and shave her head!
Maybe this really is TEOTWAWKI (the end of the world as we know it lol!).
"The creatures outside looked from pig to man, and from man to pig, and from pig to man again; but already it was impossible to say which was which."-- Animal Farm
Originally posted by ferretman2
The US will only go it alone if the UN pussies out again.
Now it is time to see whether the UN is a waste as previously thought.
[edit on 21-2-2007 by ferretman2]