In 1974 I placed an advertisement in Barrons saying gold would go to $900. That made for good laughs amongst the establishment then at Domonicos Steak House in the financial district. When in early 2000 I suggested gold would go to $1650 there were great laughs amongst the newbies. Now we are going to and through $3500.
If we go back to the late 1960′s, the gold price was suppressed to try and keep it at the $35 dollar price level where it had been for years, some three and a half decades. If anyone had suggested the gold price would rise from $35 to $887.50 at the high in 1980, they would have been considered nuts. A 25 fold increase. Yes, it settled down at 400 dollars for the next 30 something years, but that was still 11.4 times what it had been for the several decades before that.
We now have moved up to roughly 1600 dollars, a 4 fold move. The folks that did the repression in the 1960′s, I believe it was called the London Gold Pool, lost the battle, and the same folks doing the same thing will lose this one too....
We now have moved up to roughly 1600 dollars, a 4 fold move. The folks that did the repression in the 1960′s, I believe it was called the London Gold Pool, lost the battle, and the same folks doing the same thing will lose this one too....
....a 25 fold move for gold would put us at $10,000 gold, something most reading this will simply not believe.
The powers that be continue to print more paper money with abandon, while denying to the grave they are doing it. They either print, or the system comes down tomorrow.....
Nations are no different than people. At some point you cannot pay the interest. When that happens, currencies implode. When currencies implode, you better make sure you own gold. If you have the means to buy in the current weakness in the gold price, do so. If you don’t have the means, don’t do anything – make sure you have ample cash in hand so as not to have to sell out any of your position while it has been manipulated lower. There are powers that want you out of gold, holding only paper for when the currencies are devalued. Do not throw away your insurance policy. When gold lights up, many will be shocked, not understanding why it is doing so. The price control mechanism for gold and silver is beginning to break down, as it did in the 60′s.
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