An internal Citibank memo says that the next few years will see economic turmoil of unprecedented magnitude. According to the memo, we will either
see an economic depression, accompanied by civil unrest, riots and possibly war, or we will be caught up in a massive inflationary spiral as the
governments of the west flood their economies with liquidity:
futurestorm.blogspot.com...
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Buy gold now before it skyrockets
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I think inflation is pretty much guaranteed,with a period of stagflation,consider the current state a "repression".
[edit on 1-12-2008 by all2human]
[edit on 2-12-2008 by all2human]
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The last depression was caused by the contraction of the money supply. This is partly why gold was called in and exchanged for notes. Gold was being
taken out of circulation and hoarded and/or sent overseas because its worth exceeded what a dollar was worth.
Our current situation is similar. We've a contraction in money supply, ie the credit crisis but we're broke and solving it this time by printing
more money, and lots and lots of it.
This is identical to what happened to Germany in the 20's.
When you add money to the money supply, it dilutes the value of those dollars in circulation. It's called inflation and due to sheer amount of
dollars in this case, in the range of trillions of dollars, it will only create hyperinflation.
One thing is for sure. You won't want to invest in toilet paper in the future because that's about all our dollars will be good for !
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I agree that it is a good time to buy gold
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I got some gold kuggerands about a month ago for like $760 an ounce after commision. I'm ready to buy more now but with the prices at mid to low 800s
not counting the dealer commision, it's hard to buy more. I am hoping it goes back down into the 700s so I can buy more. Anyone think there is a
chance it goes back down a little?
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Originally posted by Kingfanpaul
I am hoping it goes back down into the 700s so I can buy more. Anyone think there is a chance it goes back down a little?
Hi KFP. I think Bears might respond in the affirmative, citing ongoing deflationary forces linked to recent Dollar firmness. OTOH, Bulls might point
to reckless monetary policy...paper Gold's relative strength when measured against most asset clases, and strong physical demand...as a courier of
mounting support.
Right now, I'm focused primarily on Dollar movement. Random technical clues like this one from Le Metropole Cafe' Bill Murphy can also be
valuable.
In the December 18 session on the TOCOM Goldman Sachs COVERED an absolutely gob-smacking 1,307 gold short contracts which reduces their
short position to just 495 contracts and leaves their long position unchanged at 1,337 contracts and makes them NET LONG – REPEAT, NET LONG 842
contracts. This is an absolutely stunning development! This is the largest net long position they have held ever since I have been tracking the TOCOM
data which is almost 3 years. Considering Goldman’s role in the Cartel and links to the Treasury this is of earth shattering significance. It should
also be noted that for ANY trader to be buying 1.3 tonnes of gold in a single day it deserves attention, when it is Goldman Sachs it has special
significance.
*Sorry; no link available, but the GS TOCOM open interest can be verified by scrolling this
page.
GL
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Peter Schiff has been predicting Gold will hit 2G next year. Has this guy been wrong so far?
When the US dollar suffer inflation, people will dump T bills as they lose value, besides putting more pressure on the dollar, it will also drive
more people into Gold as a safe haven.
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I just bought 5 1oz gold philharmonic's on Wednesday. Honestly, and maybe it was stupid, but I didn't really care what the price was, or does right
now.
I just felt the need to have something other than just money in the bank.
Deep down, my gut is saying: "Don't wait, and have to tell yourself...I knew it."
If next year they spring the Amero on us, God only knows what the exchange rate for a Dollar verses an Amero is going to be. What if it's $80.00 US
for 1 Amero?
I feel that they will have to establish a price for Gold in Amero's that will be relative to today's prices, so they can keep thier wealth in gold
intact.
Plus, having a few gold coins in your pocket is like keeping your bank account with you.
Like Schiff says, use your dollars now while you can still buy something with them.
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