Gold to head back to Stratosphere after Olympic Games in China?
Sheesh! Who are we kidding? Gold down to $800 an ounce? What happened that it could fall from the $1040 mark and bottom? Lemmings – Lemmings – Lemmings, that’s what happened.
Gold, however, is still in the middle of a long bull cycle. The credit crunch isn’t going anywhere and it’s just a matter of time before all the bailouts start to undercut the value of the dollar even more around the world..
Gold Bars China United States Economy Politics
China, for one, probably does not want to continue to hold onto the ever depreciating dollar. The United States is starting to dig its own grave when it comes to fiscal policy. Can you imagine the dollar actually going up in value? Yeah – neither can millions around the world. The fact is, the FED has pumped so much cash into “the system” that Gold has no choice to go back up.
Today was a fine example of that. Gold rebounded after heavy losses for the past week. The bottom line is that the United States is losing over $1.25 billion dollars daily. ???
Let me repeat that – THE UNITED STATES IS LOSING OVER $1.25 BILLION DOLLARS DAILY.
The Federal Reserve has allowed 8 banks to fail thus far, but Bloomberg has guessed that up to 300 can be defunct!
How can the Federal Reserve continue to bail the economy out? It can’t. And when it does, the value of the dollar will deteriorate even further, pushing the value of gold through the roof.
If you are an owner of Gold, I would suggest that you hold on! Do NOT sell.
If you are NOT an owner of Gold, I would suggest that you hurry up and BUY during this market dip.
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Sad truth.. this could and might possibly happen with the ways things are going