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Monday: Gold broke 1700 Wednesday: Gold breaks 1800

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posted on Aug, 10 2011 @ 02:32 PM

This is crazy news because usually it takes a month or so for gold to increase 100 dollars an ounce but now gold broke two thresholds in one week! As an indicator for the devaluing of the dollar, this basically means that the dollar is in complete free fall. If you think the S and P rating downgrade was a big deal you ain't seen nothing yet.

posted on Aug, 10 2011 @ 03:16 PM
Yes I'm totally with you on this one. This is true that gold is spiking upward really fast. I think too the downgrade of the credit rate of the U.S. has something to do with it combined with fear and loss of confidence in the worldwide currency, the American Dollar. High price of gold is also an indicator that things start to going wrong because when we consider what's happening around the globe economically it ain't pink and beautiful, isn't it?

Another precious metal which would need to be considered is silver. It is much more reliable than gold in a manner that the everybody man and woman can afford much more of it than gold. I wouldn't surprise me either to see silver spiking up as both gold and silver are related someway within a certain ratio.

Here is a link for a gold chart

Here is another link for a silver chart

at 16:00 gold cost 1688,80 $ and once and silver cost 39,35$ an ounce.

1688,80$ / 39,35$ (1 ounce of gold / 1 ounce of silver) gives us the gold - silver ratio which is currently 1/42,9174... It actually means that silver isn't costing so much. For you to understand clearly it means that to buy 1 ounce of gold you would need 42,9174 ounce of silver to the precedent said prices.

When we compare it to gold which is a good news on a side. But on the other side gold spiking that much is to be considered as a mere sign of economic trouble ahead. I expect (not predict but in my opinion) that this ratio will go down, which means silver may soar to a point where the ratio could reach 1/20,1/15 or even 1/10 (in the worst case of course) as time goes by.

With that being said, the past isn't an absolute truth related to the future but I believe it will continue along this way because there are currently many signs leading us to it. I talk about credit downgrade, not enough job creation, the loss of more than 600 points in the DJIA (Dow Jones Industrial Average), Spain, Italy and Greece financial situation.


posted on Aug, 10 2011 @ 03:38 PM
dont worry about the economy, WAR is coming to save it. North Korea or Syria will spark it, china and russia involved in either way...

posted on Aug, 10 2011 @ 03:50 PM
it was not the S&P downgrade, it was not the impasse of the debt ceiling debate/(tactics by each side)

no those elements only allowed the players/ HFTraders.. .
to take over the Market---- more like the foxes taking over the hen house !

i remind everyone that just before Gold & PMs go hyperbolic... that more informed persons than myself predicted that the Markets would have a series of multi-hundreds of dollars of ups-&-downs moves right before gold goes hyperbolic

even the MSM (bass-akwards asses they are) are pointing to gold @ $2,500. before years end===
whereas they were pooh-pooing the gold price phenomena as an abberation to the 'Norm" and to be dismissed by logical/sane peoples!

~"...he who laughts last--- laughs best...=(and loudest)"
i have been harping the reality of gold since 2004...sadly i'm only up a mere 4 fold...but expect that my wealth expansion to multiply, exponentially, in the next 2 years !
edit on 10-8-2011 by St Udio because: (no reason given)

posted on Aug, 10 2011 @ 03:54 PM
reply to post by RizeorDie

If war is coming there won't be economy... As Einstein said it I do not know how the 3rd world war will be fought but the war after will be fought with fork and sticks. With that being said do not wish a war this could be the real end of times here on earth as we now know it.


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