Gold Haters Warm to Gold; Reminder: Gold is Financial Insurance; Banks and Criminal Money Laundering
The previous gold haters are starting to come around to the idea that gold is going higher versus the fiat dollar. Here at Certified Assets our philosophy centers on gold as, first and foremost, a form of financial insurance. In a world of ‘open-ended’ QE that guarantees falling dollar buying power and total future chaos in the “investment” world, gold stands as the solution to preserving wealth. However, for those who wish to be gold price jockey’s, Bank of America Merrill has some cheery news.
BofA Merrill sees gold at $2,400 per ounce by 2014 end http://reut.rs/Uj13Ix
I would venture to say that their time horizon for Merrill’s $2400 gold is off and slow by a year, but the prediction of $2400 by 2014 is daring enough for an organization that has been a long time participant in favoring fleeting paper investments over a hard asset like gold. Better late than never, but Merrill sure would have been a lot more useful if they had started making their positive forecasts for gold when gold had doubled to about $550 an ounce at the start of the last decade.
Anyhow, I will not dwell much on future price, or even my general complaints about corrupt Wall Street brokers since there needs to be a different approach to gold and what I see as a corrupted process in the coin and bullion industry to lure and entice people by talking mouth watering potential investment returns in gold. Gold is far better than that. I’ll say it again. Gold needs to be viewed as a form of financial-life-saving insurance due to its hard asset characteristics. Plus to be practical, at some point it won’t make much sense to measure gold against dollars when the value of the fiat dollar is guaranteed to be shredded by unlimited dollar creation and unlimited worldwide currency creation.
Think about it. When our financial system deteriorates to the point of a time when there is $10,000+ an ounce gold, the dollar and the world’s supply of rocks will be similar. I just can’t get excited about a future where measuring gold against a wallpaper equivalent will retain relevance beyond nostalgia for the once great dollar. It will be an irrelevant comparison in the daily battle of life. What will matter then is what you can purchase with your metal pieces versus paper currency, or even if we are shifted to an all digital world of money. A reverse split of dollars is not going to be happening. There is no way out, ultimately, from the trap of killing the dollar, which shall be the reward of schemes like open-ended QE.
To readers who have stumbled upon this on the web – we are at a serious cross roads in time. I hope you are paying attention and preparing.
From @dailyFX US Dollar Downtrend Intact – We Like Selling – http://bit.ly/O8MAzl
Gold Hoard Found At Dead Loner’s Nevada Home http://bit.ly/Nzl7VI
Banks Behaving Badly
Here’s the reality: U.S. banking system liquidity would seize up without money laundering. Wells Fargo has already been caught red handed aiding and abetting. Anyone who knows me, knows that I do not believe the ends justify the means, which is why I hold JP Moron and Crank of America in such utter contempt. You are dealing with the devil if you bank with them. Let’s see if the top players in the banking cabal can make this investigation go mysteriously away.
Related: JPMorgan, Bank Of America Probed Over Money-Laundering Allegations: New York Times http://huff.to/RV0yQ3 via @HuffPostBiz
Here is my 2011 post about the Wells Fargo incident. http://buttonwood1792.blogspot.com/2011/04/drug-money-makes-world-go-round.html I do not make this stuff up.
I am tempted to launch into an expletive laden tirade to wonder aloud about why we tolerate the crimes against humanity committed at the behest of these mega banks, but that’s not my style.
Share this post
Author Jim Kingsland
Market commentator with focus on Gold and Silver after long broadcast career at FNN, Bloomberg, and Fox. #RandomHouse published author on PMs. Jim has also been involved in projects for CAC and Coinplex.
No comments yet.