Gold Up - Dollar Down… further!
Gold is up… so what’s new? Gold hit $914 an ounce today, and the dollar sank to new lows.
Inflation is raging everywhere in the world, and America is in a recession. Gold is up 50% in the last 12 months from $650 in Jan 2007 and rose 50% from $430 in the 18 months before that in Jul 2005.
The US$ has dropped by a similar amount in the same period of time. The only commodity that has not gone up in price compared to the value of Gold is Oil. Gold is the great leveller… isn’t it odd how the REAL price of oil has not risen. It has only risen in price if you compare it to the Fiat US$ currency. The FED prints money to pay for oil in the same way that Adolf Hitler printed Reichsmarks to pay for World War 2.
Gold prices are rising in anticipation of further cuts in US interest rates, high oil prices, and by speculative trading.
Ron Paul is right, stop fighting wars, bring the troops home, and reduce government spending.
Aussies support Ron Paul