Developments in GOLD

Posted: September 4, 2010 in Gold, Precious Metals, Silver

There have been interesting developments in gold.  I am someone who believes we have a corrupt system where the elites are provided information in advance.  Likely the information is provided privately, however I wonder if their egos are so massive they provide the public messages which may or may not be hidden.  Let’s look at gold and potential messages.

1.   Three days ago Yahoo! Finance had a “glitch” where the price of gold was quoted at $3,401.  Could this have been the been a hidden sign?  Not likely but who knows.  If gold tops at $3,401 remember this post.  In my opinion $3,401 is realistic, who knows where gold prices will go.  It depends on how low the US Dollar will go.  If we have a collapse in the dollar who knows where gold and silver prices will go. 

2.  Ron Paul had a fantastic interview on Kitco about auditing Fort Knox.  I must say Ron is taking on the true cause of this crisis which is our Federal Reserve.  In the interview Ron discusses the importance of auditing our Gold at Fort Knox.  Knowing how much gold we have in Fort Knox is vital information.   Could you imagine how fast the Dollar would fall if it was discovered we did not have gold in Fort Knox?  I believe there is very little if any gold.  Most people have no idea how not having gold in Fort Knox will affect there lives. 

3.  According to Bloomberg there is unusual activity for the December $1,500 contracts.   Someone is betting a lot of money gold will be at $1,500 in December.

4. The New York Sun and Fox News actually covered Ron Paul’s interview on auditing Fort Knox.  Ron Paul is typically ignored by the mainstream media.  Ron Paul is the only politician I have seen who has the balls to attack the Federal Reserve, in fact he wants to abolish the Fed.  I encourage you to listen to The Creature from Jekyll Island, it will blow your mind.  Many of our problems come from the independent bank known as The Federal Reserve. 

5. Once again China is trying to talk down the price of gold.  This is not unusual for China.  China is aggressively accumulating gold, they would rather accumulate at cheaper prices.  China has sold estimated 10% of their US Treasuries and publicly announced they will now buy Japanese debt.  The dollar is done.  Ticker UDN is shorting the dollar if you are interested.  I would also look at shorting US Treasuries ticker TBF, TBT. 

6.  Fox News host Glenn Beck spent a quarter of his show explaining gold.  Whether you like the guy or not Beck is mainstream media.  Beck explained when all else fails and people lose confidence in stocks, bonds, treasuries and tips they run to gold.  To prove his point he used George Soros as an example of someone who is buying gold hand over fist.   Beck then explained gold is “cheap” when adjusted for inflation.  We still are not to a point where citizens flock to gold but we will get there someday, maybe soon than people think.  When our house of cards collapses it could be fast.   Beck opened the eyes of millions and some will listen.

 These could be messages or signs gold and silver are going higher or we have reached a short-term top.  Either way the gold and silver  bull market continues.  I believe gold and silver are ready to run.  Silver may explode higher.  I would like one more pullback but I don’t think I will get that lucky.  The true bubble is the US Dollar, Treasuries, and other fiat currencies backed by nothing around the world.  As I continue to study these topics it is evident the US Dollar is a failed currency which is going much lower.  Buying gold and silver will protect your wealth from obvious future collapse of the US Dollar.


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