More Gold Rush

Gold has hit an all-time record today at $1248.50 and readers that bought it back at $580-640 where I was pushing it hot and heavy have cleaned up with a nice little earner, great.

The reason it’s racing ahead is that people, quite rightly, don’t trust the currencies. How governments usually get out of massive debt is print more money. The Federal Reserve created many trillion dollars of new money during the real estate crisis in the US, and the Eurozone has just conjured up a trillion of its own.

The idea is that to cure dodgy countries with massive debts they can’t pay, one creates trillions of more debt back at the European head office to help out. Silly eh?

* (see below).

The UK also owes a trillion it can’t pay, so the presses will be clunking their profitable rhythms day ‘n’ night. The collapse of the pound has been on my predictions list for several years now.

The Greek and the Irish are rioting in the streets and the Spanish will soon be out and about causing trouble. Governments have to make massive budget cuts that hurt the workers; ordinary people feel the banks and governments and the fat cats that created the debt crisis should pay for it not the working class, they feel they are innocent.

But the workers are not really totally innocent as they have been fiddling their taxes and milking the welfare system for donkey’s years so in truth lots of working people are also guilty.

But be careful, gold could drop suddenly if there is a crisis in the stock markets as traders will unravel gold positions to pay for losses. So if you are not in right now then wait for a decent earthquake or something big to spook the markets, and buy when gold goes lower again.

If you are in don’t sell in case it does not go down much, hold on, as the long term future of gold is $5000 an ounce and up from there. (sw)

*When a government creates a trillion in new money it devalues the old money as now there is more swishing about and the currency falls; banks become reluctant to lend as the percentage fall in the currency is more than the interest they receive. So in effect they lose money by lending it out.

Eurozone and Britain will grind to a halt and America will have its own run on the dollar but later on.

** Spain has just come out with an austerity package that will kick in next year that will reduce its 100 billion annual deficit by six billion so they are only going to over spend by 94 billion a year. Ole!

They owe 500 billion.

It’s the same as if you credit card bill is $500 and you agree to send in $6.00 a year. Do you think they might pull ya card!

© Stuart Wilde 2010

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Stuart Wilde (1946 – 2013) is considered by many to be the greatest metaphysical teacher that has ever lived. Most famous New Age, New Thought writers and teachers privately studied with him, Read the full Stuart Wilde Bio >