As many of you know, FOFOA is my favorite gold analyst. He writes a blog that describes in great detail what he expects to happen to gold. The most dramatic act will be a quick, quantum like jump in the price of gold to $55,000 (+/-). In other words, Freegold.
I will not go further as his blog is the place to go for that, and because the Freegold idea cannot be briefly summarized.
fofoa.blogspot.com
But, I will paste in below a paragraph he recently wrote showing why we will NOT likely return to a gold standard. This is a very nice piece of fruit (and from his recent article "The Return to Honest Money"), I felt I should share it with you:
And yes, we are returning to honest money today! The signs are everywhere, the most prominent being the rising price of gold against a falling dollar. Those who are buying gold, like China, Russia, Europe, India, Asia and the Middle East, are preparing for the return to honest money. They are preparing because they realize there is a huge advantage in preparing for something that is coming versus just watching it arrive from the sidelines. Yet, for some reason, we don't hear them demanding a new fixed dollar-gold standard from the US. Hmm. Fool me once, shame on you. Fool me twice, shame on me!
Read the paragraph and then re-read it. I believe it will resonate very well with many of you.
I hope to turn more attention back to the precious metals soon here in my blog.
Once I again I put out a call to EXPERTS willing to write a Guest Post here (especially on Silver)!
Silver is money, but only preserves purchasing power.
ReplyDeleteGold is being accumulated by central banks.
Any questions?