The Next Big Event for Gold: Tier One Status; The New $100 Notes – An Update; An All Part Time Staff at Red Lobster
Consolidation in the gold market continues, but you should know the old saw, ‘never sell a dull market short’. Sooner or, later participants will wake up to a new band leader in the gold market and that will be when gold is essentially viewed as a cash equivalent in the banking system, or a Tier One, or Risk Free Asset. At present, gold is a Tier 3 asset and valued at half of its present price on the COMEX. This will happen toward the end of this year, or early in 2013. There will be no credit rating associated with gold.
My dear readers, this is nothing short of huge and now is the time to accumulate gold. Silver is not included in the Tier 1 category, but this probably gives silver another shot at $50+ in the months ahead, but beyond that is anyone’s guess. The spot light here is on gold, not silver, nor even platinum.
The new $100 Note – An Update: http://www.newmoney.gov/newmoney/default.aspx Many have noted the golden symbols on the $100 note, but it still is a Federal Reserve Note and nowhere does the Note say it is good for gold. Also, there is the little problem that all the gold ever mined on the planet is worth just 60% of US annual GDP. The Fed is not about to go on a gold standard.
There’s a nifty experiment taking place in Florida — Darden tests limiting worker hours as health-care changes loom http://www.orlandosentinel.com/business/os-darden-part-time-workers-20121007,0,1505128.story This is why you will be seeing more part time hires in the monthly employment report as you did this past Friday with the September labor market data.
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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.