The coming US dollar crisis Message Board

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Strategies & Market Trends : The coming US dollar crisis

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To: RockyBalboa who wrote (23939)	11/3/2009 3:53:16 PM
From: ayn rand	Read Replies (1) of 71409

House of Cards .............................. Today, Monex Spot Gold traded over the $1,080 mark, making all-time highs. $1088 HOD Now that the previous long gold market consolidation phase has shifted to a market 'breaking all-time highs,' investor complacency in the bullion market should shift to heated attention to prices. Focus will likely increase on the sobering realization of the fundamental dollar weakness that poses a house of cards dilemma to central banks. Some central banks have been quietly restocking gold reserves to shield their national currencies from value erosion, because the primary backing (reserves) of their currency is a weak dollar. Note the news today from Bloomberg: 'Gold jumped to a record after India's central bank bought 200 metric tons of the metal from the International Monetary Fund, heightening speculation about more official purchases.' It seems that most investors and central banks have yet to act to accumulate much in the way of precious metals. Much higher gold prices may be the wakeup call for them. - monex

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