RE: RE: RE: Chinese Fools Lining Up for gold soberinvestor
I'll go you one better, I think that the Chinese and others have some kind of agreement to exit their US dollar reserves for gold. Lord knows every country in the world is fed up with the USA getting a free pass with the old dollar printing press, if anyone else tried it their money would go bust. So the long term goal of other sovereigns is to create a level playing field, and gold will certainly be a part of that, but first these other countries need to bolster their reserves. It won't matter where that gold comes from be it Cypress, Greece, Italy, private holdings, ETfs ( if they actually have any real gold to back up their shares) or heavens forbid the good old US of A itself. Maybe Cypress won't be the old one who gets squeezed.
Regardless, for little investors this might be their last chance to get in on the cheap, if you're your to young to remember the hyper inflation and 20+ % interest rates of the late seventies and early eighties get ready because it ain't pretty.
As I've said before I watched this unfold in the 1970's and was to young to ride the wave, not missing it this time.