Gold is UP $12, so far...Future of Gold... This mini Gold correction is over, in my view...upwards and onwards from here...One of the MAJOR reasons, for this next bull is hardly mentioned....everyone is now so scared lof the US$....lol....
And it is because of the US$ upcoming severe decline that Gold will shine extremely bright...What will cause this upcoming serious decline in the US$?...It seems they have it all figured out.....well not exactly not really....
US$ is now prohibited from raising interests rates, certainly beyond 1%....US$ is the BIGGEST DEBTOR, so much so that If they raise rates more than 1%, the incredibly LARGE foreign debt they hold, we"re talking TRILLIONS AND TRILLIIONS OF us$, AND THOSE HOLDERS will necessarily demand equal payments of said raised rates, and if Int. Rates go much higher, it will bankrupt US$, if nothing is done to stop the massive flood out of the US$...This is why the War on OIL is taking place, US$ must keep control of OIL...We have a number of examples of losing control of the Oil price, I am sure you all remember them....
On the other side, Russia, a major Oil exporter, is how it makes up most of its moneys, and along with the usual suspects, has begun a war of undermining US$ by trying to control the price of OiL much higher...They have a tough road ahead what with all the miltary sucessses the US$ has had in Oil exporting countries like Lybia,and many other ME countries, as well as other new producers...but US$ is failing to extent this Oil control in SYRIA etc...SO I feel the day of reckoning is coming and soon....
Other countries and other times implimented different startegies, to overcome this super mheavy debt problems....Like South Africa and many others historically implemented a 2 level currency, a domestic currnecy or dollar, and a foreign currency foreign dollar...This way they can decide just how much to pay foreigners in US$ interest, and avoid/stall a total collapse...
Of course this is just my opinion, from studying history, and living thru the recent currency crisises now..... there is nothing to say they could not find other ways out of this mess...but the facts and evidence is pointing at the fact that this US$ monetary crisis is now on the burner....lets see how "things "develop...one thing for sure hold and or buy more GOLD, the only way out...
Mellow