Economic update

[carlyincanada]

Holy Smokes!! I heard on the news the global markets lost another 2.1 Trillion dollars today!! (i might be off abit but its huge!).

Anyone see Alan Greenspan on the weekend talk shows saying the USA would just keep printing money & not to worry!! Duh!!!!

Thanks for all the links/videos!

[carlyincanada]

Gold hits $1800.00

[carlyincanada]

A steady rise of Gold price in the 100's is an indicative of problems in the general economy.

Tuesday, January 1, 2002 - Launch of euro notes and coins
Friday, February 8, 2002 - GOLD ABOVE $300
Monday, December 1, 2003 - GOLD ABOVE $400
Thursday December 1, 2005 - GOLD ABOVE $500
Monday, April 17, 2006 - GOLD ABOVE $600
Tuesday, May 9, 2006 - GOLD ABOVE $700
Friday, November 2, 2007 - GOLD ABOVE $800
Monday, January 14, 2008 - GOLD ABOVE $900
Monday, March 17, 2008 - GOLD ABOVE $1000
Monday, November 9, 2009 - GOLD ABOVE $1100
Tuesday, December 1, 2009 - GOLD ABOVE $1200
Tuesday, September 28, 2010 - GOLD ABOVE $1300
Wednesday, November 9, 2010 - GOLD ABOVE $1400
Wednesday, April 20, 2011 - GOLD ABOVE $1500
Monday, July 18, 2011 - GOLD ABOVE $1600
Monday, August 8, 2011 - GOLD ABOVE $1700
Wednesday, August 10, 2011 - GOLD hits $1800!!!!



Today is an excellent example: why Gold/Silver is a good investment, it can preserve wealth. One can even buy in their TFSA account, where all the gains are tax free..& let it stay/grow till this global financial train wreck is running its course....

regarding Kitco or RCM (RCM is the govt. mint) wheras Kitco is a dealer: check both & compare the prices, it doesn't matter where the it comes from; all it matters is the price. (on RCM products, Kitco has no HST)

.....

[ashedfc]

Question is Gold going up without the masses owning any..
This is main reason... as now Gold has gone into an explosion upside, which will cause more people to buy Gold which will cause more upside, & the upward spiral starts......
Its exactly like the worthless dot.com companies had in late 90's

Ask yourself "Do you really own any Gold ?".......

Just a note for those who like reading "Gold shorts, who have been selling Gold without having any called naked selling; some of them just had their career ending moves"
Please read (specially the last para) http://kingworldnews.com/kingworldne...ything%21.html

[ashedfc]

SAGE ADVISE FROM JIM SINCLAIR
Now that we have reached $1800 gold, what should you do?

1. Those holding gold to hedge the systemic risks of the Western Financial world simply stay in your position.
2. Traders lighten up your positions as gold approaches the next two Angels.
3. No market fails to have reactions at some point.
4. Reactions in this market will be deep, but brief when they occur.
5. The undervaluation of good gold shares has passed manic.
6. Utilization of some of your gold profits into good gold shares is pure logic...

[ashedfc]

The Real story of "who runs the world" published in 1912, but still holds true

[ashedfc]

Gold price is an indication of what's in store for the future:
The conclusion is that we are heading for a collapse of paper-money, or put another way, we are heading for massive inflation leading to hyperinflation.
Good thing is, we still have some time left to prepare before "S#*t hits the fan" (remember I posted an article couple of weeks back)

[newb]

Good article..well written...thanks

[ashedfc]

A brutal cyclical common equity bear market within this secular bear market for common stocks has already begun. Paperbugs (keep complaining about Goldbugs ranting of armageddon) but the reality is "The Paperbugs Won't Get It Until It's Too Late"

Dow to Gold ratio is headed for a lower (maybe 1:1 as it has happened in the past)

http://news.goldseek.com/GoldSeek/1313175824.php

An interesting video (interview of John Embry) worth watching... I consider this a must listen as it he speaks of Canada too:
http://www.youtube.com/watch?feature...&v=jL0YnJTdYJw
.
.

[ashedfc]

Smart money is already rushing to Gold... as a safety in this currency crisis, (as currency looses value & dollar becomes worth-less day by day)
& its evident by the Gold price becoming worth-more day by day



A must read: Bernanke Pledges to Screw Your Grandmother for at least 2 more years http://www.theburningplatform.com/?p=19975
.

[ashedfc]

Gold is the ultimate currency no matter what the naysayers or Central bank or politicians say! The next paper currency must be linked to gold to be taken seriously. Till that happens- Gold will continue to strengthening & regain its true value as the World Reserve Currency..... Or in other words the Dollar, the Euro, & all paper currencies will loose value simultaneously..

http://www.youtube.com/watch?v=YdFfI...layer_embedded

Gold Closes Today at a RECORD $1,785 per ounce !!!

http://www.youtube.com/watch?v=bYAmz...layer_embedded

[carlyincanada]

Not a good day in the markets!
TSX -305
Dow -444
Gold $1821 (up $27)

Unemployment up in US
Inflation up
Gas/Oil down so thats about it for good news!

Thanks for the links/videos...will take a look!

[ashedfc]

An all time high Gold price is an indication (or reflection) of problems elsewhere....

Its a perfect stagflation environment - where unemployment is high; wages are low; & inflation is high (I mean real inflation as measured by SGS, the Shadow Govt statistics, not what the govt CPI mentions, mainly because Govt CPI excludes food & energy, & the use of hedonics as a tool for measuring inflation lowers CPI)..

Look at the Oil price per barrel in WTI (West Texas intermediate) & Brent ..... & compare it with the price at the gas pump..... the real gas pump price is still high, even though WTI /Brent has gone down.... that shows the reality........

[ashedfc]

3 US Banks went belly up today, one each in Georgia, Illinois & Florida (its become a standard process now, as it happens every friday)

http://www.fdic.gov/bank/individual/.../banklist.html

[ashedfc]

A very hard hitting analysis by Martin Armstrong (an interesting read)

http://www.martinarmstrong.org/files...08-18-2011.pdf