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The Gold Mountain

The Gold Mountain

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Published by babstar999

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Categories:Business/Law, Finance
Published by: babstar999 on Jun 19, 2011
Copyright:Attribution Non-commercial

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06/19/2011

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How to BuyGoldat$350 an Ounce
Do you own gold yet?As I’m sure you’re aware, starting in July 2007, the financial markets entered one of themost severe crises in history. In response to this, the Feds (Federal Reserve, TreasuryDepartment, etc.) have tried to prop up the financial system with endless money printingand stealth bailouts.And that’s a BRIEF recap (I’m sure I left something out).At some point (and I cannot tell you when), the money printing and bailouts will result ina horrific wave of inflation similar to the one this country saw in the early ‘70s. Nocentral bank in the history of mankind has ever been able to print money ad nauseumwithout devaluing its currency. And the US central bank is currently producingTRILLIONS of dollars to aid their friends on Wall Street.Indeed, inflation is actually already here as the headlines attest:
Global Food-Price Index Hits Record
 
China has raised interest rates twice in recent months to combat inflation. Euro- zone inflation jumped past the bloc's target rate for the first time in more than two years, data released this week showed, and economists said the rise was likelydue to higher food and energy prices.
UN body warns of ‘food price shock’
The world faces a “food price shock”, the Food and Agricultural Organisationhas warned after its benchmark index of agricultural commodities prices shot upto a nominal record last month, surpassing the levels of the 2007-08 food crisis.The warning from the UN body comes as inflation is becoming an increasing economic and political challenge in developing countries, including China and  India, and is starting to emerge as a potential problem even in developed countries, including the UK and the eurozone.
 
China Acts To Prevent Collusion On Prices
China's economic planning agency unveiled regulations to prevent price collusionand monopolistic pricing practices, giving the government more tools to rein ininflation pressures… Under the new rules, competitors will be banned fromreaching agreements to fix prices, while business partners will be barred fromagreeing to minimum resale prices, the NDRC said.
China PBOC: To Give Higher Priority To Curbing Inflation
China's central bank will give a higher priority to curbing inflation in 2011, the People's Bank of China said Thursday, boosting expectations that it will adopt more tightening measures, such as raising interest rates.China has adopted various measures in the past few months in a bid to rein ininflation. The PBOC hiked benchmark interest rates on Dec. 25, the second time since Oct. 19, which was the first rate hike in nearly three years.
Brazil pledges to stop US 'melting the dollar'
 Brazil has sounded a new note of warning in the international "currency war" by pledging not to allow the United States to "melt the dollar". Guido Mantega, the Brazilian finance minister, raised the prospect of introducing greater controls on short-term flows of speculative capital into his country.
All of these come from major media outlets (not exactly at the forefront of investigative journalism). At this point I actually wonder if Ben Bernanke can even
read 
. I realize thatsounds harsh, but how on earth can he claim inflation is under control? I mean, does thisguy even bother reading anymore? He’s an academic right? Isn’t his entire job supposedto consist of reading and thinking?Let’s be clear here, inflation has already begun to rear its head around the world,especially in food prices. This is a MAJOR problem for emerging market economieswhere food comprises a higher percentage of consumer spending than in the US. Soexpect to see food riots and greater civil unrest in many emerging markets.And you BETTER prepare for inflation in the US.Indeed, We’ve already seen commodity prices spike across the board in the US in the lastyear:
 
 
Asset Price on 1/1/10 Price 1/31/11 % Change
Oil 82.75 90.00 +8%Gold 1,137 1,348 +18%Silver 16.81 27.90 +65%Wheat* 201 339 +68%Corn* 167 279 +67%Poultry** 83 85 +2%Sugar ** 21 33 +57%* per metric ton** cents per poundThe next stage is the paper currency collapse: the stage at which inflation accelerates asthe US Dollar collapses, destroying purchasing power while inflation hedges EXPLODEhigher.So it’s no surprise that the smart money (investing legends like Jim Rogers, DavidWinters, and the like) have been preparing in advance buying inflation hedges andcompanies that profit during periods of high inflation.And nothing protects against inflation like GOLD.
Goldwas,is,andalwayswillbeTHEultimatestorehouseofvalue.Mankindwasprizingthisstuffduringtheprehistoricperiod,longbeforetheconceptofstocks,mutualfunds,orpapermoneyevenexisted.Today,withworldcentralbank’sprintingpapermoneydayandnightitisnosurprisethatGoldisnowemergingastheultimatecurrency:onethatcannotbeprinted.Smallwonderthenthatithasrecentlyhitnewall‐timehighsagainstALLmajorworldcurrencies.
Gold:TheKingOfCurrencies
Here’sGoldpricedinUSDollars:

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