I'm no guru ok. Tell me now? Gold has been an equity worth having dating back to the Egyptians and Aztecs has it not. It has seen many a person through hard times.... wars, economic depresions and the list goes on. Gold has stood the test of time. Currency's come and go and yet gold is still standing albeit down but NOT out atm.
The Gold standard for currency trading between countries was abolished by American President Nixon (40 odd years back)I think?; In favour of the current American $...... credit and printing money to pay debts; which happens to be numbers on a piece of paper which inflation just eats away at and at the end of the day it's paper.
My questions are these! Would this system of world finance we have be under threat (with money printing) by the American FED to the tune of $85 billion a month? Is there a new fiancial system to be put in place which I don't know of? Is Gold being shorted to enable a previlidged (institutions) few to gobble up this commodity cheaply and when the time is ripe the Gold will be revalued? Much much higher?
Gold as mentioned has been around longer than all of us writing on the forum. Why should Gold over a period of 12months become suddenly a non event as some inform us on this forum.
Gentleman it is my view to stay the course, as Gold will have its day again. Surely it has to be worth more than paper? I'm hurting big time, but do believe that our time is not here yet.
What's happening atm just defies logic.
Comments welcome.
Cheers the phanotom.
NCM Price at posting:
$7.76 Sentiment: Hold Disclosure: Held
