Gold is UP over $12...US$ steady...Gold continues it.s rally, but most of the Gold stocks are not following...the lunch hour crowdare doing their usual, knocking Gold stocks down duriing lunchhour ..to me this means the full battle vs Gold continues in a strong way, but the economic evidence so far does not back that up...the Dow etc are in the process of collapsing to new years lows....nothing now can stop that...
On todays Bernman,s call,as much as he is a waffler, on this hand on the other hand.., left me with the impression that equities were going downon all fronts till about the fall, with the distinct possibility/probability that we cold have that 20% correction during this time...Of course this could be devestating for the dollar and paper currencies worldwide...It would mean very lose moneys again, with lNO rate hikes for US$ continuing, and US$ forced into printing....Gold at this stage in my view should regain its full role worldwide as a safety haven vs all world currencies and particularly the US$...
The EURO is expected to gain vs US$ aand the YEN, since it is expected to be in a better economic position than the said 2...There is absolutely very little enthusiasm for the US$ and the economies worldwide, and thus the fear of paper currencies
will help Gold and other precious metalsattract even more scared paper holders...BTW...
BERMEN also said that Gold will play a MAJOR role in a new Monetary System, he doesn,t when, but he sees it coming, at what price, at what exchange rates, he does not know , but is sure it is coming...One of the Biggest things
that will happen , IMV, is a Major devaluation of US$ vs. GOLD...
Most of the biggest economies in the world are now up to almost 100% of GDP to DEBT, and that is the REAL problem. in the World Economy, and thus some HUGE Economic changes, will have to be implemented in order to have a change for a new Economic System to succeed...We are far away indeed, and thus GOLD will play a central role in this new E. System rising to new heights as the world moves to safe accepted hard money...Gold...Got Gold???...Better get some...OH BTW...PDG has plenty of GOLD...you know the rest...
Mellow99