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(Reuters) - The world's wealthiest people have responded to economic worries by buying gold by the bar -- and sometimes by the ton -- and by moving assets out of the financial system, bankers catering to the very rich said on Monday.
Originally posted by Mdv2
Most don't know what is coming, but gold is a safe heaven in times of uncertainty, which explains why nowadays many people invest in gold and other precious metals. As soon as the Dollar goes down the drain - and believe me, they are trying to postpone this as long as possible (including the Chinese), the IMF will act and try to replace it by a new world reserve currency, giving control to those who have had control of the financial system for almost a century. Unfortunately for them, the BRICS and the EU are not going to let this happen.
There will be another century, but not one of America holding the world hostage with petrodollars.
Don't believe me? Long before the crisis I stressed here on ATS this crisis would come to happen and especially the US would be hit hard. Many Americans ridiculed me. Guess what. All these people have disappeared into thin air and I'm still around.
Originally posted by neo96
yeah gold is a safe haven investment people
anyone who has gold will be the ones left standing after a "financial" collapse comes.
Originally posted by ANNED
I will not buy gold right now as the price is way to high.
But i will be out in some of the gold mining areas near where in live with my metal detector looking.
If i get lucky i might get a couple ounces.
If i do i will sell it quick while i can make good money on it.
"Gold is going to go a lot higher over the next decade. It may slow down for a while because it's run up so dramatically here in the last few weeks. But gold's going to be much higher," Rogers said. "Adjusted for inflation it should be well over $2,000 now. When I say something like it's going to 2,000 in 10 years it's not a very dramatic statement given the state of the world. I'm sure it's a given."
Rogers said one reason gold will continue to gain is because of what he called the failed policies of the Federal Reserve, its Chairman Ben Bernanke, as well as Treasury Secretary Geithner and other government officials. He said their efforts to prop up the economy have made things worse, not better.