Quote:
Originally Posted by ophiuchus
how do you think this effects someone who owns gold? how about the status of our economic meltdown? etc.........
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The meltdown is there already. The so-called 7.5 trillion guarantees is probabely the biggest sb I saw in my life and I have 20 years solid financial career behind me. The astonishing thing is how well CIA did in organising worldwide drug business that definitely everybody switched-off his brain...
Lets quickly talk about reasons that caused people to switch-off brain or being brain-dead:
- Fast food
- Video games
- TV shows
- consume, consume, credit, credit card, spend
- low-level education
- propaganda media
- governments just bsitting around and telling lies about terrorists that do not exist or even worse are their biggest friends.
But getting back to the answer to your question:
- meltdown is going on big time in big and fast steps
- US is by definition bankrupt
- actual falling equity markets, real estate prices makes us believe to be in a deflation
- this will quickly switch over to a hyperinflation
- the guarantees are not only guarantess over the weekend US just spend a little pocket money of USD 300 billion to save CITI
- this week they will spend USD 100 billion for the car industry
- next week another sector
What is the good thing about all this:
- Key companies won't go bankrupt anymore...so buy as much equities as you can - I expect the Dow Jones to reach 20 to 30'000 next year
- and as soon the 99.99% of paper-money-fan-investors realises that they do not have enough equity-exposure they will buy like hell
- expect the dow to trade about 10'000 x-mas 2009....
- Now FED-Benky and advisor-Hanky together with JP Morgan and Goldman Sachs did a great job to manipulate down the funny-money-Gold&Silver-COMEX-paper-price...
- this seems to be over because now investors soon start to believe that the world is saved and then gold and silver will be allowed to shoot up!
- I have a little e-mail service and I told my people this weekend that I expect the price of Gold @ x-mas between 1000 and 1500 and the one of Silver between 20 and 30....
- If you have physical Gold you must be a very happy person and just keep it! Don't tell anybody! Maybe one day you will be told to be a criminal or a terrorist...but believe me you are not!
The purchasing power of one ounce of Gold will go up by a factor of 5 to 10 and the one of Silver times 30 to 50...
Cheers silverman