Note: Left is the baltic dry rate index: plunging.
My first reaction when I read an article on this site by Arnold Bock - articulating why gold would go to $10,000 – by 2012 no less - was amazement. Who in their right mind would suggest that gold would eventually reach $2,500, let alone $5,000 or even $10,000? Well, I did some investigation and, believe it or not, Bock is in lofty company. Many respected individuals, such as David Rosenberg, Peter Schiff, Harry Schultz, Rob McEwen and many others, have come to the same conclusion. Below is a partial list of such individuals with sound reasons to substantiate their views.
1. Peter Schiff:
As President & Chief Global Strategist of Euro Pacific Capital, Schiff correctly called the current bear market before it began. As a result of his accurate forecasts on the U.S. stock market, economy, real estate, the mortgage meltdown, credit crunch, subprime debacle, commodities, gold and the dollar, he is becoming increasingly more renowned.
He recently was reported in Business Week as saying that "People are afraid of the debasement of all the currencies. What's surprising is that gold is still as low as it is ... Gold could reach $5,000 to $10,000 per ounce in the next 5 to 10 years.”
Source: Here..
2. David Rosenberg:
Rosenberg, the former Merrill Lynch North American Economist and current Chief Economist and Strategist for Gluskin Sheff, an independent investment firm for high net worth individuals, believes that "$3000 an ounce on gold may yet prove to be a conservative forecast." He went on to say:
- "if the gold price to world GDP ratio were to ever scale up to the peak three decades ago, it would imply an ultimate peak for gold of $5,300 an ounce.
- if the relationship between gold and the M3 money measure where to revert to the 1990 high, then gold would move to $5,700 an ounce.
- if gold were merely put on the same footing as the CPI, and head back to the previous peaks in this ratio, it would suggest $2,300 as the peak in gold — only a double from here.
- if the gold price-M1 ratio was used then gold would go to $3,100 per ounce under the proviso that prior highs get re-established."
Source Here..
3. Alf Field:
Alf Field has been called the “world’s best gold analyst.” He is well known for his many spot-on predictions in the precious metals market and these are some of his determinations regarding the future price of gold;
More Here..Look Where GOLD and Silver is Going!
Here..
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ReplyDeleteEA: Please consider deleting posts from Brain William Doty 3. His posts are rude, crude, and totally inappropriate. More importantly, they make no sense and are just taking up space on this blog. This blog and the issues being discussed are too important to be hijacked by nut jobs.
ReplyDeleteBrian there's the warning..write a sentence that makes sense, pertaining to the subject
ReplyDelete10:08
ReplyDeleteResist the temptation
To kill what you do not understand
It will be ok, vato
I promise
And I always post on-topic
With my name
Like a mang
Why bother getting excited at gold being worth $10,000 in worthless currency that will soon be dead. Gold is only going to be something to barter with.
ReplyDeleteI recently heard Dave Ramsey say that it ridiculous to invest in gold. I wonder how many fans he lost over that statement.
ReplyDeleteFood is the most important thing along with shelter that you can have. Governments can and will confiscate it. I say if you didn't buy gold during the lows, I'm not sure I'd buy it now. Sure, it can go to 10,000 an ounce--but how are you going to trade with that? Because this is what we are leading up to...being able to purchase or trade with it...and so if others get wind that you have gold--you are a big target. This currency crash is meant to reduce us all to paupers. They can come to your door and arrest you at any time and throw you in prison for whatever reason. This is a dangerous time. Don't put all your eggs in one basket and be careful what you put your faith in.
ReplyDeleteIf hyper-inflation comes then it is logical to assume gold will go to infinity if measured in fiat. Just ask Zimbob.
ReplyDeleteIt really is true that the sheeple don't quite understand GOLD and its meaning. If GOLD or SILVER went to any such level, then you will be able to trade for large pieces of land, businesses, factories,boats etc. Every time GOLD is mentioned on this blog the dumb sheeple knock it with babble about food, etc. GROW your own food! GOLD/SILVER will replace useless paper currency to TRADE for more valuable items and control you dumb sheeple. That is why entire countries are unloading their currencies!
ReplyDeleteThe question is not how high Gold and Silver will go but rather for most people how LOW their dollars and bank account will. Perhaps very close to zero. Yes it might be hard to trade or barter with gold or silver but it might be IMPOSSIBLE to buy something with your dollars.
ReplyDeleteBut what you people (or some of you) don't understand is the scenerio that is coming. You will be able to barter and trade for awhile, but if you don't take a mark--you will not be able to buy or trade. And how is it that they will know? There is technology that we don't even know about. They will rule with an iron fist, or try to. In their mind (TPTB) they want to reduce us all to peasant status or kill us (Georgia Guidestones) so how do you think they will accomplish this task? They plan on bringing people to their knees. That means no gold for you.
ReplyDeleteOh really ?
ReplyDeleteWell buckwheat I already have it and nobody can take it because A) you don't know I have it and
B) you don't know where it is
Plant your own garden and buy heirloom seeds only as these will reproduce a true strain when you save the seeds yourself. A well tended 50' X 50' garden will feed a family of 4 into perpetual
happiness - throw in the occasional deer or fish and your good to go. Also learn to pressure can - it's so damn easy and then you can really stock up when your garden is overflowing.
Last year I had 35 tomato plants that yielded 75 Quarts of everything tomato - sauce, ketcup, paste, juice all for practically nothing but my time.
People don't seem to realize just how economical and easy it can be to feed your family if you stay away from red lobster.
All those of us that hold physical gold will now also begin to watch our tongues - and when it comes time to barter with our gold we will be even more diligent.
We are anything but stupid about what's going on and we also realize that those that are now in power will not be there very much longer
They may plan on bringing the people to their knees but I've got news for them buckwheat - when push comes to shove --
They are the weakest link
Yeah I don't believe there is a conspiracy to that extent. Who the hell is Soros and others going to get their wealth from when the whole country is destroyed?
ReplyDeleteWith hyperinflation there will be no one working. To say, "they want to kill us all" is ridiculous, can anyone come up with a good reason for them to kill us?
Now the conspiracies that do exist is that there are communists trying to hijack this country and there are politicians being used by them for money. Human stupidity causing the demise of another civilization, it happens over and over and is not the cause of deliberate actions.
In my opinion gold will be worth trash, since we made it valued in fiat, when fiat currencies are wiped out how exactly will gold be measured? And who the hell would want gold when they are trying to survive?
Fuck gold, just have a gun with lots of ammo, food to survive inside for a while, withdrawal from any kinds of substances you're addicted to (drugs, cigs, alcohol, television), get into shape so you can run or last longer, and hope you can find others who are competent to form up a community with.
Thank you for sharing this information with us.
ReplyDeleteI agree with the last 2 posts but would say to 8:35 - If your able and have the resources it can hurt nothing for people who want to prepare to own some physical gold and silver.
ReplyDeleteIf our worthless paper is pulled/devalued/changed
the Pm's wikk reign king for awhile until another fiay=t is established and could be used quite effectively tyo barter for ones needs.
Also it is worthwhile for all to note that both guns and PM's are NEVER worth nothing & that's a helluva lot more than I can say for currency.
Speaking of currency - if we continue in this deflationary enviroment ( and make NO mistake that's where we currently find ourselves ) believe it or not cash will be king for a period of time - take advantage of it !
It will NOT last
anybody hear of steve quayle or wanyne madsen:
ReplyDeleteJune 25, 2010
Steve Quayle
Inside sources have informed me that Full scale Gulf Coast evacuations are expected to begin in next couple of weeks--With Methane now surfacing and Bubbling in Florida waters the potential for a Methane Explosion of unimaginable devastation now comes into focus Further Law Enforcement Sources are being Advised of "ESCALATING VENT DETERIORATION" Two Definitions were provided to me--First "VENT" DEFINITION-"The opening in a volcano from which gas and molten rock erupt" and "ESCALATES"- DEFINITION GIVEN-"To expand step by step as from a limited or local conflict into a General NUCLEAR WAR"--to become unmanageable--You don't need a rocket science degree to read between the lines. Ten Years ago after the Papua New Guinea Earthquake in which "Burnt to a Crisp" bodies were pulled from the Fiery Seas-Stan Deyo and I did multiple Radio programs together over the years, warning of the Methane Hydrate Problems off our Coasts that could turn into "Seas Of Fire". Now maybe you can understand our warnings in perspective!. With massive numbers of Military assets being moved south it is being stated, that Martial Law initially will be on a regional Basis,. You will have no choice-- as you will be moved against your will, to places you really don't want to be moved to. Have you wondered what will become of everyones "stuff" thats left behind in abandoned homes and offices--THEY HAVE!--"To the Victors (THE NWO CROWD) go the spoils"! I encourage everyone to prayerfully consider all the above information and use your GOD GIVEN FREE WILL TO MOVE. There will be a complete shutdown of all commerce and Industry in the Areas affected by the Forced Evacuations. Don't assume your credit cards will work at this time, as a "Cyberattack" is to be Launched against the "US FINANCIAL" System concurrent with the mass evacuations that will deny access to funds--Have Cash on Hand to get you where you need to go. LIFE AS WE HAVE KNOWN IS ABOUT TO TAKE AN APOCALYPTIC CHANGE--FOR THE WORST. Now's a great time to get right with JESUS-as he told us this stuff was going to happen in Matthew 24,Luke 21 and in the Book of Revelation--May the GOD OF HEAVEN Guide and Direct those who "CALL OUT TO HIM IN REPENTANCE AND FAITH". Emergency preparations in dealing with the expanding oil menace are now being made for cities and towns from Corpus Christi, Texas, to Houston, New Orleans, Gulfport, Mobile, Pensacola, Tampa-St.Petersburg-Clearwater, Sarasota-Bradenton, Naples, and Key West. Some 36 FEMA-funded contracts between cities, towns, and counties and emergency workers are due to be invoked within days, if not hours, according to WMR's FEMA sources. (Wayne Madsen Reports)
With all this babble about gold, you're missing the real indicator of economy: the Baltic Dry Index. The fact that it is plunging again is a very bad sign in terms of importing, exporting, and generally having the commodities we need.
ReplyDeleteEven if gold goes way up, when there is a limited amount of essential items, then you can't buy what doesn't exist. Those of us with land and water will fare best because we don't have to depend on the supermarket to survive.
All news about the oil Crisis and the economy seems to be declining. Have people lost interest or are our reporters withdrawing a bit and getting ready for the coming mess.
ReplyDeleteGold. I realize there are people who will be able to buy real estate with their gold during a collapse. Those who think they will buy land with gold during a collapse ask yourself how much gold and attorney will need to make sure everything is legal and has no liens, etc. etc., because you will be his only client. But the little people with a few ounces may find they can only buy a little ammo or a gun. Buy them now, it will be cheaper.
ReplyDeleteGold is evaluated relative to US dollars, in fact its value is constant, but the dollar is going down.
ReplyDeleteDon't be happy to see it going to $10,000, because this mean everything you will buy will also cost 10 times what your are paying today, there is no such thing as a free lunch.
This mean little money today will still be little money tomorrow.
Also at one point reasoning and comon sens is going to come back.
It cost around $275 US to extract an ounce on average. All things being equals, it will go back there.
And if the Chinese can extract it for a quarter of the cost I let you do the math.
(Don't laugh, everything they do cost a quarter of the same thing made in the US)
If you want to play safe buy a little gold but stay within 10 to 15%, so if it collapse you will be able to absorb the loss.
Much better to invest in high dividend worldwide companies that will continue to prosper even if sadly the United States is on the decline of a civilization, and an other country will be at the top for a while.
All the best to all.