Over the past 5 weeks there has been a concerted effort to beat down gold from its recent high of 690. The fight is on by the cartel – made up of governments and a couple of bullion banks – to keep gold from going over 700.00.
However, every time they tried to do this at other levels, 300, 350, 400 450, 500 etc., they lost out and they will once again lose. Watch the ride cause it’s gonna break through 700 soon and then shoot for the moon.
You see, governments hate gold because it shows the weakness of their currency which is a reflection of their economy. Currency meant something when it was backed by gold and the strength of it was a reflection of the amount of gold a country used to back its currency. No gold equals paper that can go worthless over time. The US currency has dropped over 20% in the past 5 yrs and there is more to come.
He who has the gold shall be king.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment