Hi John,I think the Gold price is seeing some upward pressure...

Hi John,

I think the Gold price is seeing some upward pressure due to the clamouring for more money printing here in Europe. It would appear that all eyes here are waiting for the coming German Constitutional Court decision due out any day now.

I keep hearing more words like hope being used by the talking heads on the financial channels, like others with their money locked into the paper system it would appear that more and more Hope is becoming an official investment strategy.

Hope that the system hold together a few more years is not something I would personally be writing into my own strategy, hence my views on physical gold.

If for any reason my preparations are not required over the next couple of years I certainly won’t be beating myself up. I don’t complain about my house not burning down whilst I pay an annual insurance policy so won’t be doing it if I am left with a load of gold coins to pass on to my grandchildren.

Meanwhile the German Bund sales go on:

Moreover, the German constitutional court is soon afterwards due to rule on the legality of the European Stability Mechanism, the eurozone’s rescue vehicle. The ESM is likely to play an integral part of any ECB intervention, but its implementation could be blocked by a negative ruling by the court.


http://www.ft.com/intl/cms/s/0/eff1d310-ec6f-11e1-8e4a-00144feab49a.html#axzz24Mzq3Yn1

And the good news on the growing and recovering economy world-wide continues, so we can expect to see more and more full aeroplane loads no doubt this will reassure some here.

Qantas Cancels 787 Orders After Posting Annual Net Loss

http://www.bloomberg.com/news/2012-08-22/qantas-airways-has-first-annual-loss-as-fuel-costs-rise.html

Life goes on as they told me in Majorca last week, and so it does.

Good luck to all especially those trusting their future purchasing power protection with the very Fashionable Hope Strategy (FHS may as well have another one) I have a feeling you will be needing it. ESM, ECB, FHS seems to fit!

Cheers and very best regards: Andy