Thursday, October 14, 2010
Drain is wide open for USD
Gold is reaching new record highs in terms of the US Dollar. The dollar index is falling hard .. govt-induced inflation. Gold is projected to double to over $2000 per ounce within next 6-9 months. Anyone with savings will be losing value big time. People are jumping into stock market to fight inflation ... not sure why, but DOW will most likely rise to higher highs. Silver is also reaching 30 yr high .. not quite $50 per oz, but about halfway there. This doesn't mean much to most people, but cash assets will suffer if you are invested in those instruments. Check the price of groceries near and after Thanksgiving .. should be higher, along with gas. I'm thinking about selling the old gold jewelry to get some Christmas money .. when gold surpasses $1400 an ounce.