new york criminals, page-35

What I hear now is hat the fundies who previously had no gold are starting to add some to the bag. 5% maybe 10% if v aggessive. Sure there will be some games played around a psychological barrier such as $1000 US, as the chat on HC attests, but there are far bigger influences than chartists here this time around. Massive changes in financial tectonics.

Think about the huge amount of NEW money being created, by the Fed to buy toxic debt from US banks, the huge "cash for trash" show. Its happening now. The banks are putting that new money straight back into US Treasuries, on which the govt pays interest. Not lending, as the govt wants. Why? What a racket! They buy your dud loans for cash, then pay interest on the dough they gave you! But wait..more to it. The banks know the toxic tsunami isnt one wave. Its multiple waves. Its getting bigger and bigger. Bloomberg last night. Not me here. They are hoarding ammunition/flotation for the next wave. Many millions of mortgages are about to come off honeymoon rates from later and higher in the boom. The banks know so. They wrote them. Payments up 30, 40%.
But what happens when all that new money begins to hit the streets, when they get sick of 1.5% interest? More money chasing fewer goods-and hyperinflation. You dont want to be caught in the headlights of an oncoming inflation train then, holdin' foldin'. What happens when paper money is devalued, is hard assets go up in nominal dollar terms. Longer term, gold isnt so much going up, as FIAT MONEY(paper money) money is going DOWN...these days, gold is better money than fiat money. The penny is starting to drop. The money you put into the bank as savings in cash, enough to buy you a new car 10 years ago, wouldnt buy a half of one now. But if you had it in gold, it would buy you maybe three now. Now thats a savings vehicle. No bank fees either.