From "Gold The Week" of the-privateer:
"This weekend, the Central Bankers of the G-7 nations are meeting in Ottawa, Canada. Do you have any doubt that GOLD will be on the agenda, quite likely at the TOP of the agenda? This meeting will pit three (the U.S., Canada, Britain) against three (Germany, France, Italy), with one "wallflower" (Japan). If the U.S. government is going to accelerate their spending to the extent they plan to WITHOUT the Dollar expiring, they need FULL co-operation from their G-7 "partners". They will find out at this meeting if it will be forthcoming.
If it is, Gold may well dip back below $US 300. If it is NOT, Gold is set to rise MUCH higher. The price action on Monday, February 11 will be the first indicator. But no matter what happens in the short term, the delusions of omnipotence of the U.S. government have GUARANTEED the demise of their currency and their economy. Unless they radically change their policies, it's just a matter of time. Gold's sudden spurt is the clearest possible indicator that their time is running out. Stay tuned."
"We can only repeat - technically, this is a BULL market. It will remain intact on any Gold price above $US 278 - the bottom of the post April 2001 uptrend. It will receive FINAL confirmation if and when Gold consolidates ABOVE the $US 300 level."
the-privateer.com
Sounds about right to me.
Wayne |
