Before Greenspan became a lying weasel for the ruling elite, he sometimes spoke the truth. The chart below should be your basis for staying the course on days when the powers that be try to break the spirit of holders of gold. We know that the National Debt is rising by $3.7 billion per day and will continue to do so for the foreseeable future. I believe it will easily break $20 trillion by 2015. It would take a nice war with Iran and a deep recession to reach $23 trillion by 2015. The timing may be in doubt but the destination is certain. Gold will be much higher than it is today by 2015. On days like today where it drops $50, you can take solace in the fact that it doesn’t matter. As long as the debts accumulate, gold will rise.
Deficit spending is simply a scheme for the ‘hidden’ confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights.”
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| The above chart shows a very clear correlation between the US Federal debt and the price of gold. If the current trend continues the US debt would reach $23 trillion in 2015 and if the correlation remains the same the indicated gold price would be $2,600 per ounce. |
ncognito1959 says:
Word!
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14th March 2012 at 10:49 am
DaveL says:
I know comments like this piss some people off, but shouldn’t the price of gold be a separate story from the function of gold? If gold will save the lives of you and your family, should you care whether the “price” went up or down $50?
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14th March 2012 at 12:06 pm
Administrator says:
DaveL
That was the point of the post.
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14th March 2012 at 12:14 pm
DaveL says:
Sorry Jim, I guess I missed the point. Can there be a gold weakness, or strength, to people who buy it for security purposes only? I’m looking to buy a “monster” box of silver dollars. Not for an investment but for security.
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14th March 2012 at 4:29 pm
Administrator says:
Dave
The average person is driven by their emotions and make bad decisions by allowing their emotions to get in the way of reason. When they see gold drop $50 they get worried and wonder whether it will fall another $200.
But if you step back and look at the correlation of gold to our debt, it will give you the confidence to hold on. A box of silver coins sounds like a sound strategy. This sell off will get you a better price.
I buy silver coins whenever the price drops below $30.
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14th March 2012 at 4:42 pm
DaveL says:
Agreed. I’ve only held off on silver because I didn’t want mail order. Now that I’m in AZ, there are enough dealers nearby to walk in and buy.
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14th March 2012 at 7:02 pm
TG says:
Grasshoppers, well done!
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14th March 2012 at 1:13 am