Will Gold Explode Higher in Next Few Days?
In the past three weeks, central banks and governments around the world have wreaked havoc on financial markets with daily changes in policies and actions. Yet we are told that this extreme financial instability is being done in the name of creating financial stability!
" On Monday this week the governments of Germany, France, Austria and Spain announced that they were setting up a $1.5 trillion fund to guarantee newly created European Union debt. This action was taken to supplant steps of individual nations to guarantee deposits in their banks, which had the potential to draw accounts away from banks in other European Union member nations that do not offer this guarantee.
" Also on Monday, the British government announced that it was taking majority ownership of Royal Bank of Scotland and HBOS (Halifax Bank of Scotland), two of the four largest United Kingdom banks.
" In a side note, safe manufacturer Sentry reported that recent sales had increased by 20 percent over year earlier levels. However, in the last week volume has jumped to 50 percent above previous levels. One retailer of safes said that in normal markets his company was able to deliver safes within one week. Currently, demand is so strong that delivery times are now 2-4 weeks after purchase. Obviously, there is demand to store valuables by people who no longer feel secure depositing or storing in banks.
" Morgan Stanley Chief Economist David Greenlaw has just forecast a $2 trillion U.S. federal government deficit for the current fiscal year.
" Depending on definitions, at least 20 national governments are on the brink of bankruptcy, including Iceland, Hungary and Pakistan.
While this turbulence has been building, there are two huge developments in the world gold markets plus a surprising prediction on global television: . . .
Full story at: Link
" On Monday this week the governments of Germany, France, Austria and Spain announced that they were setting up a $1.5 trillion fund to guarantee newly created European Union debt. This action was taken to supplant steps of individual nations to guarantee deposits in their banks, which had the potential to draw accounts away from banks in other European Union member nations that do not offer this guarantee.
" Also on Monday, the British government announced that it was taking majority ownership of Royal Bank of Scotland and HBOS (Halifax Bank of Scotland), two of the four largest United Kingdom banks.
" In a side note, safe manufacturer Sentry reported that recent sales had increased by 20 percent over year earlier levels. However, in the last week volume has jumped to 50 percent above previous levels. One retailer of safes said that in normal markets his company was able to deliver safes within one week. Currently, demand is so strong that delivery times are now 2-4 weeks after purchase. Obviously, there is demand to store valuables by people who no longer feel secure depositing or storing in banks.
" Morgan Stanley Chief Economist David Greenlaw has just forecast a $2 trillion U.S. federal government deficit for the current fiscal year.
" Depending on definitions, at least 20 national governments are on the brink of bankruptcy, including Iceland, Hungary and Pakistan.
While this turbulence has been building, there are two huge developments in the world gold markets plus a surprising prediction on global television: . . .
Full story at: Link
posted by A.C. Dwyer at 10:49 AM
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