Spot Gold Over $2,000
Arizona gold
Some gold traders feel that spot gold could go beyond $2,960, in 2010. Their reasoning is that we are getting to the point in the gold market where some of the really strong, big players — by that, I’m saying commodity funds with hundreds of millions of dollars — are saying gold is should easily be rising to $2,000.
Between the massive over-spending by Barack Hussein Obama & the Democrats; combined with other countries’ attempts at keeping their currencies cheap to the US$; along with dwindling supplies of new gold to be mined; add it all up & the price of gold bullion has no where to go but up!
Needless to say, scepticism about the merits of the dollar mounts monthly. The actions of the US administration and Congress place it on an unprecedented spending binge organized by the Treasury and FED which dishes out vast quantities of new digital dollars designed to mop up the flood of new and maturing debt.
This revolting process is causing foreign central banks to rapidly lose their appetite for US Treasury bonds. The expanded FED balance sheet coupled with monetizing debt inherent in quantitative easing is the boogeyman of international finance.
The dollar will devalue because massive dilution caused by incessant money creation allows future obligations to become more manageable – for government – because it is the only way that it can meet its future obligations for employee pensions, accumulated debt, Medicare and social security.
A nominal dollar which buys much less in the future than it does today is still a dollar. Unfortunately the holders or recipients of those devalued pieces of paper will find they are essentially fraudulent promises.
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I have no doubt either that gold will hit that price.
Gold Buckles