With gold and silver recently hitting new highs, King World News interviewed James Turk out of Spain. James had this to say about recent developments, “Robert Zoelleck, President of the World Bank, wants to start a debate about a new international monetary system. The key quote from his article is, ‘The system should also consider employing gold as an international reference point of market expectations about inflation, deflation and future currency values. Although textbooks may view gold as the old money, markets are using gold as an alternative monetary asset today.”
This development is significant as officialdom is recognizing what the market has already long recognized, that the present international monetary system has a short shelf life. This is extremely bullish for gold and bearish for the dollar. It is not too surprising that the US dollar is going to lose its reserve currency status given the fact that the Federal Reserve’s actions continue to erode the dollar’s purchasing power.
This development is significant as officialdom is recognizing what the market has already long recognized, that the present international monetary system has a short shelf life. This is extremely bullish for gold and bearish for the dollar. It is not too surprising that the US dollar is going to lose its reserve currency status given the fact that the Federal Reserve’s actions continue to erode the dollar’s purchasing power.
If QE2 doesn’t put the final nail in the dollar’s coffin, QE3 or QE4 certainly will.”
James, it wouldn’t surprise me if we were to see silver move $3 in a single day in the near future which would get us to your $30 target.
Totally believable, only wish I had the $$ to buy more gold (& silver). Come on disinfo agents and shills, tell us about the recovery & the great american dollar, come on, tell us.
ReplyDeleteAnd by the way disinfo agents and shills, hoping you are following your own advise...
Otherwise, your are screwed! Ha Ha Ha Ha Ha....
I have something to propose to people. I'm high on a percocet at the time of writing this so my limits are not present. The dollar is about to be history, it's pretty much a fact at this point. Even if it happens in five years and not witin a year, the dollar is history and we're going to be in deep trouble.
ReplyDeleteI was in the shower the other day and I saw a spider sitting on the faucet. I kind of didn't want him there because of the way he looked, so I took a bit of water and splashed in on him with my hand pushing the sprinkling water coming down on me. He got hurt really bad and after I turned the shower off I noticed he looked "washed up".
It made me very sad to think that I did that to him/her because of he way it looked. It really looked very pittiful all sprawled out. I made a prayer to the universe to bring it back to health and moved its body with a piece of kleenex to a dry spot. I started blowing on it gently and sent it imagined love waves... (weird I know). After five minutes or so it started wiggling around. Her nerves were active again. And in no time it was moving around in perfect health. This made me elated!
Perhaps we're supposed to lose "everything" unreal so that we gain what is Real?
555 awesome story, really. I think you have this one nailed dead on.
ReplyDeletepercocets right
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