Posted on 10/24/2010 7:40:13 PM PDT by blam
And The Result Of The G20 Talks Is... The Dollar Is Tanking, And Gold Is Rallying
Joe Weisenthal
Oct. 24, 2010, 8:55 PM |
Same-old same-old!
Here's the euro surging against the dollar.
Gold, meanwhile, is back up to $1337. Early Friday morning it was as low as $1314.
(Excerpt) Read more at businessinsider.com ...
The Nikkei-225 is down 0.29% as I post. See here
Actually I’m impressed and confused as to how the dollar has remained as strong as it has.
LOL. All the DUmmies give Glenn Beck the credit because one of his sponsors sells gold! :-)
Couldn’t be that most normal people can read the writing on the wall and realize that with O & Co. printing worthless money whenever they feel like it, that gold is a much safer investment?!
Nah. LOL. ;-)
"Financial advisors say their clients are demanding more and more gold, says, WSJ, and the same financial advisors who are trained to think that their clients are probably idiots when it comes to investing decisions, think this means gold is in a bubble that should be avoided."
The declining dollar has created a huge bubble in the American stock markets. We all know what happens to bubbles.
bump
The only bubble blowing is in US bonds. Gold just warming up as another round of QE also known as money printing will boost gold and silver and the regular stock markets higher.
When the US bonds bubble bursts money will turn to corporate bonds and stock investing looking for better returns.
Gold should drop significantly after Election Day.
I believe this round of dollar destruction is due to GS talking about 4 trillion in QE2. The bankers have to be bailed out after all. All the excess liquidly goes into commodities which are hyper inflating as wall street finds that is the best place to park all that money. So normal Americans are getting the shaft in multiple ways by the fed actions to save there banker friends. And the where that money won’t go with Zirp+QE in place is into business that would create jobs.
Make no mistake about it my fellow citizens this is back door banker bailout.
That’s what I’m thinking. Plus people are going to want to book profits at current tax rates as next year’s rates are (at the moment) projected to be higher. And there will be end of the year squaring of the books too — there was easily a 5% drop from early December 2009 into the last week that came right back the first week of 2010.
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