According to Eric_deCarbonnel who writes a column called "marketskeptics", the US dollar will collapse in 30 days. He and many others believe COMEX gold is a form of debt.
Right now, because of low margin requirements, sellers of gold futures only have enough gold to cover 10% of outstanding contracts stored in COMEX warehouses. If even a quarter of outstanding contracts asked for physical delivery, it would be enough to guarantee a default. Since a financial collapse would actually create the risk total default (insolvent banks can't produce the gold or cash)This is why COMEX gold prices are falling, while physical gold is disappearing from the market place.
The forces and trends behind the financial collapse are too powerful to stop.
If you have wealth and don't own gold, then you will soon be poor.
Lets announce the date as of Nov 27th and see if he is close!
Did the prediction come true?
ReplyDeleteAccording to Eric_deCarbonnel who writes a column called "marketskeptics", the US dollar will collapse in 30 days.
Well not yet....