Will gold close 2008 out with new end of year closing high to make that nine in a row since 2000?
In all likelihood with just three trading days to go and the daily chart breaking up last night from a bullish pattern, that will likely be the case.
And yet many analysts can only paint a negative point of view by focusing on the fact that gold hit a high back in March of $1037 and declined to $668 back in October.
One such analayst, Rick Ackerman is trumpeting to all of the oncoming deflationary collapse, something he was trumpeting back in 2001 mind you and look where that ended.
The fact is and remains that inspite of the massive destruction of asset prices in recent months, the expansion of money supply has excelerated like no other time in history and is continuing at a pace that will eventually lead to a flood hitting the mainstream economy. A flood that will send inflation through the roof.
2009 is going to possibly be THE most significant and tumultuous epside in the history of the United States and indeed the rest of the world.
