You will know why gold has been going up after reading this article. I have three targets for the price of gold.
1. $3,000 - This is a very achievable target in 3 years.
2. $5,000 - When too many things got out of control worldwide. Watch 2015.
3. $7000 to $10,000 - Hyperinflation in the US and many countries.
I real hope we don't see gold go over $3000 because it will indicate disastrous financial situations. Too many people will lose every thing and even their lives.
Please protect yourselves when you still have the chance that is atleast 15% of your liquid assets in physical gold and at least 6 months of cash as living expenses under your direct controls.
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If you don't believe me you can take his words for reference. haha
Gold Rally Signals Move Away From Currencies, Greenspan Says
http://www.bloomberg.com/apps/news?pid=20601083&sid=acrGvxBXPDfk
By Millie Munshi and Veronica Navarro Espinosa
Sept. 9 (Bloomberg) -- Gold prices that jumped above $1,000 an ounce this week are signaling that investors are buying metals to hedge against declines in currencies, former Federal Reserve Chairman Alan Greenspan said.
The gains are “strictly a monetary phenomenon,” Greenspan said today at an investment conference in New York. Rising prices of precious metals and other commodities are “an indication of a very early stage of an endeavor to move away from paper currencies,” he said.
The price of gold has jumped 13 percent this year as rising government debt coupled with declines in the dollar spurred demand for the metal as a haven. Silver, platinum and palladium also gained.
“What is fascinating is the extent to which gold still holds reign over the financial system as the ultimate source of payment,” Greenspan said.
Yesterday, gold futures for December delivery touched $1,009.70 an ounce on the Comex division of the New York Mercantile Exchange, the highest for a most-active contract since March 18, 2008. The metal touched a record $1,033.90 an ounce on March 17, 2008. As of 9:42 a.m., gold traded at $988.
China, the world’s fastest-growing major economy, will continue to be a “large consumer” of commodities, including energy and metals, Greenspan said.
“China is turning out to be the 900-pound gorilla in the energy and commodity market,” Greenspan said. “The increase in oil consumption in China has been quite extraordinary.”
You will udnerstand why I kept on bugging you about this subject if you finish reading this article:
The Coming Consequences of Banking Fraud
http://seekingalpha.com/article/160619-the-coming-consequences-of-banking-fraud?source=article_sb_popular
“The problems are worse than they were in 2007 before the crisis.” ..
http://www.bloomberg.com/apps/news?pid=20601087&sid=aYdgQkXu9eBg
Stiglitz Says Banking Problems Are Now Bigger Than Pre-Lehman
By Mark Deen and David Tweed
Sept. 13 (Bloomberg) -- Joseph Stiglitz, the Nobel Prize- winning economist, said the U.S. has failed to fix the underlying problems of its banking system after the credit crunch and the collapse of Lehman Brothers Holdings Inc.
“In the U.S. and many other countries, the too-big-to-fail banks have become even bigger,” Stiglitz said in an interview today in Paris. “The problems are worse than they were in 2007 before the crisis.”
..more
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