Gold moving up
jetpro
Posts: 126
Gold at $640.20. $700 by the end of the year anyone??
0
jetpro
Posts: 126
Comments
China to be sold. Fed Chair and some other genius heading to
China to try and ease the dollar and call for the strength in Yuan.
Then of couse it could just be short covering, but I doubt it.
Recent articles in NY Times.
I wonder if coins I mean it. Coins. Not bullion not bullion related
coins. I wonder if this time they do indeed hold up. Is the dollar too
far gone? Just a question. I know you guys dealt with it all before.
Regards, Michael
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Life is too short, I might as well buy Gold while I'm still around!
roadrunner
I would be careful on your gold prognostications.....They tend to cost you!
Actually, I believe we will be making new highs in gold and should be over $700 by the FUN show.....
The dollar broke very important support on Wednesday and is headed to a USDX of 80.00-80.50 where it should find major support for awhile....
I am not very optimistic about the future for our great country.....I hope that changes soon.....
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The British Empire saw the effects of being the world's policeman in 1948 when it had to divest itself of a large portion of its empire, including India and Palestine, etc. Trying to police the world essentially bankrupted the United Kingdom and the United States kept England afloat until England had no choice to devaluate its currency and decimalize its currency.
The United States suffered financial problems as well due to the effects of bailing out England as well as the "guns and butter" policies of the 1960's (Vietnam and Welfare) that it was forced to default on its promise to pay gold to foreign countries redeeming their holdings of the US dollar.
Instead, a promise to pay with more promises to pay.
Also 1970 marked a sea change in reporting of the Federal budget. In 1970, the Nixon administration decided to include the Social Security annual surplus into the numbers reported for the Federal government surplus/deficit. The result? A reported "surplus" in 1969 which was the first time that it became quite apparent that the Feds began to fall in love with manipulating the reported numbers.