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Gold/Mining/Energy : Gold & Gold Stock Analysis
GLD 414.48+0.7%Jan 9 4:00 PM EST
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To: Tommaso who wrote (28016)6/6/2012 1:26:41 AM
From: GST3 Recommendations  Read Replies (2) of 29622
 
I agree entirely -- but it is more than a productivity boom that lifted us -- it was the mobilization of global resources that needed the dollar to anchor a system that brought prosperity to so many that is was beyond the imagination of almost all economists to even consider the consequences of relying on the dollar as the global reserve currency. The assumption was that we could never abuse that status with such wild abandon so as to make the entire global system come crashing down. And now look at us -- printing money like mad in hopes that we can get the global economic engine from stalling out completely. there are no more resources to mobilize -- the global economy is 'all in', leaving us without the means to service global debt. Gold was the anchor -- we convinced the world that central bankers were too smart to need gold as the anchor for their reserves -- especially in Asia where central banks used dollars instead of gold during the boom from 1980 to 2000. Forget about your friends -- they will not wake up in time. It will be the central banks of Asia, and their citizenry who are smelling the coffee -- and they are buying gold to reduce dependence on the dollar. This has gone from a trickle to a stream and will soon turn into a torrent. That is what will shoot gold up to levels that few can even begin to imagine would be possible -- we as a people are not going to wake up in time.
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