Thursday, August 4, 2011
CNN Interviews Jim Sinclair in 2008 about Gold at $1,650/oz
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www.jsmineset.com
We couldn't agree more. Get your family and your financial house in order first, then think about investing in gold as insurance. Financially speaking, one doesn't become rich by investing in gold, you are just maintaining your standard of living while the rest of the economy is falling. Gold protects your wealth against unsound financial policies in government and banking. BK
Wednesday, August 3, 2011
Central Banks Join Rush to Gold
The Wall Street Journal
by Liam Pleven, Se Young Lee and In-Soo Nam
Central banks are ramping up their gold buying as they seek to diversify their reserves away from the dollar and other beleaguered currencies.
South Korea became the latest government to disclose a big bullion purchase, saying Tuesday that it recently bought 25 metric tons - more than doubling its holdings to 39 metric tons. Mexico, Russia and Thailand have also been major buyers in 2011.
This year, governments have almost tripled their net gold purchases, increasing their holdings by 203.5 metric tons this year, up from a 76-metric ton rise last year, according to the World Gold Council, an industry group backed by miners.
The demand marks a major shift in central banks' thinking about gold. Increasingly, they see bullion as protection against risks posed by declining paper currencies and global economic upheaval, and their vast resources and conservative bent make them a powerful force in the gold market. LINK...
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As we have said HERE many times, families should become their own "Central Bankers." BK
by Liam Pleven, Se Young Lee and In-Soo Nam
Central banks are ramping up their gold buying as they seek to diversify their reserves away from the dollar and other beleaguered currencies.
South Korea became the latest government to disclose a big bullion purchase, saying Tuesday that it recently bought 25 metric tons - more than doubling its holdings to 39 metric tons. Mexico, Russia and Thailand have also been major buyers in 2011.
This year, governments have almost tripled their net gold purchases, increasing their holdings by 203.5 metric tons this year, up from a 76-metric ton rise last year, according to the World Gold Council, an industry group backed by miners.
The demand marks a major shift in central banks' thinking about gold. Increasingly, they see bullion as protection against risks posed by declining paper currencies and global economic upheaval, and their vast resources and conservative bent make them a powerful force in the gold market. LINK...
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As we have said HERE many times, families should become their own "Central Bankers." BK
$1,650 GOLD is Now BROKEN!!!
The number many experienced traders and analysts have been waiting for has now been achieved. Gold at $1,650 is the launching pad for $2,000, $3,000, $5,000 and beyond. How much more significance does anyone need when gold hit this number the same day as the debt ceiling deadline? What gold is telling us is that it sees right through the politics and responds to the truth, the USD is losing confidence as the world's reserve currency. This will set the stage for much higher inflation into the future. Prepare yourself by practising the old fashion way of living and saving money. Take personal control of your finances and protect yourself and your family. BK
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