Gold just hit all-time highs today. After breaking through the previous resistence in the low $1020's/oz, it met further small resistence at the previous all-time high of $1033/oz (hit in early 2007). As I write this, it is sitting at $1040/oz (up 2% on the day). Furthermore, the gold/silver mining stocks are up an incredible 7.5% on the day so far. Breaking through all-time highs is a pretty significant event, and many people thought that if gold could do it, $1300 isn't out of the question in a fairly short time (a few months to a yr).
The dollar keeps getting weaker. There are more and more rumblings around the world of the dollar losing it's reserve standard. Unless the government changes it's ways soon, the dollar will keep getting weaker, assets will keep getting more expensive, and inflation will ruin many people's standard of living. In the past year, the dollar has lost 20%! Yet the government says there has been no inflation?!?!?! Don't believe them. Food costs are up, gas prices are up, etc. Real inflation is running at around 6% or so according to most real estimates. Protect yourself.
1 comment:
People are too focused. People are so much more wary
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